Universal Electronics Inc. (NASDAQ:UEIC) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its position in shares of Universal Electronics Inc. (NASDAQ:UEIC) by 6.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,500 shares of the technology company’s stock after selling 3,500 shares during the quarter. Victory Capital Management Inc. owned 0.40% of Universal Electronics worth $598,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in UEIC. Bank of New York Mellon Corp purchased a new stake in shares of Universal Electronics in the second quarter valued at about $122,000. Marquette Asset Management LLC acquired a new position in shares of Universal Electronics in the first quarter valued at approximately $159,000. Howland Capital Management LLC raised its position in shares of Universal Electronics by 56.6% in the first quarter. Howland Capital Management LLC now owns 32,942 shares of the technology company’s stock valued at $330,000 after buying an additional 11,900 shares during the last quarter. Empowered Funds LLC raised its position in shares of Universal Electronics by 8.0% in the first quarter. Empowered Funds LLC now owns 37,956 shares of the technology company’s stock valued at $380,000 after buying an additional 2,800 shares during the last quarter. Finally, Quadrature Capital Ltd raised its position in shares of Universal Electronics by 4.9% in the fourth quarter. Quadrature Capital Ltd now owns 41,085 shares of the technology company’s stock valued at $387,000 after buying an additional 1,936 shares during the last quarter. 79.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Universal Electronics from a “hold” rating to a “buy” rating in a research report on Thursday.

Universal Electronics Stock Performance

Shares of UEIC stock opened at $8.76 on Monday. Universal Electronics Inc. has a one year low of $7.02 and a one year high of $14.20. The company has a 50 day moving average price of $9.93 and a 200 day moving average price of $10.59. The firm has a market capitalization of $112.93 million, a price-to-earnings ratio of -2.48 and a beta of 1.14.

Universal Electronics (NASDAQ:UEIC) last released its quarterly earnings data on Thursday, August 8th. The technology company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.01). Universal Electronics had a negative return on equity of 19.41% and a negative net margin of 11.19%. The business had revenue of $90.45 million during the quarter, compared to analyst estimates of $94.86 million. As a group, equities analysts forecast that Universal Electronics Inc. will post -0.62 EPS for the current fiscal year.

Universal Electronics Profile

Universal Electronics Inc designs, develops, manufactures, ships, and supports control and sensor technology solutions in the United States, the People’s Republic of China, rest of Asia, Europe, Latin America, and internationally. The company offers voice-enabled automatically-programmed universal two-way radio frequency, as well as infrared remote controls to video service providers, original equipment manufacturers (OEMs), retailers, and private label customers; wall-mount and handheld thermostat controllers and connected accessories for smart energy management systems to OEM customers, hotels, hospitality, and system integrators; proprietary and standards-based RF sensors for residential security, safety, and home automation applications; and integrated circuits on which its software and universal device control database is embedded to OEMs, video service providers, and private label customers.