Russell Investments Group Ltd. Buys 67,939 Shares of Universal Electronics Inc. (NASDAQ:UEIC)

Russell Investments Group Ltd. lifted its stake in shares of Universal Electronics Inc. (NASDAQ:UEIC) by 109.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,922 shares of the technology company’s stock after purchasing an additional 67,939 shares during the quarter. Russell Investments Group Ltd. owned about 1.00% of Universal Electronics worth $1,429,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. American Century Companies Inc. lifted its holdings in shares of Universal Electronics by 4.9% in the fourth quarter. American Century Companies Inc. now owns 223,627 shares of the technology company’s stock valued at $2,460,000 after purchasing an additional 10,529 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in Universal Electronics by 2.2% during the 4th quarter. First Eagle Investment Management LLC now owns 163,936 shares of the technology company’s stock worth $1,803,000 after acquiring an additional 3,500 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Universal Electronics by 9.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 125,360 shares of the technology company’s stock worth $1,379,000 after acquiring an additional 11,263 shares in the last quarter. Peapod Lane Capital LLC bought a new stake in shares of Universal Electronics in the 4th quarter worth $1,215,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Universal Electronics by 25.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 82,570 shares of the technology company’s stock valued at $908,000 after purchasing an additional 16,591 shares during the last quarter. 79.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. StockNews.com downgraded shares of Universal Electronics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 1st. Rosenblatt Securities reissued a “buy” rating and issued a $15.00 price objective on shares of Universal Electronics in a research report on Friday, February 21st.

Universal Electronics Stock Performance

Shares of UEIC stock opened at $4.98 on Monday. The firm has a market cap of $65.30 million, a price-to-earnings ratio of -2.69, a P/E/G ratio of 3.62 and a beta of 1.36. Universal Electronics Inc. has a 52 week low of $4.51 and a 52 week high of $14.20. The firm’s 50-day simple moving average is $6.86 and its two-hundred day simple moving average is $9.00.

Universal Electronics (NASDAQ:UEIC) last announced its quarterly earnings data on Thursday, February 20th. The technology company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). The firm had revenue of $110.45 million for the quarter, compared to the consensus estimate of $102.47 million. Universal Electronics had a negative net margin of 6.09% and a negative return on equity of 3.67%. Analysts forecast that Universal Electronics Inc. will post 0.17 earnings per share for the current 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.