Granite Investment Partners buys $15,592,794 stake in Universal Electronics Inc (UEIC)

Universal Electronics Inc (UEIC) : Granite Investment Partners scooped up 44,152 additional shares in Universal Electronics Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 203,934 shares of Universal Electronics Inc which is valued at $15,592,794.Universal Electronics Inc makes up approximately 1.18% of Granite Investment Partners’s portfolio.

Other Hedge Funds, Including , Lpl Financial added UEIC to its portfolio by purchasing 3,192 company shares during the most recent quarter which is valued at $244,060. Renaissance Group sold out all of its stake in UEIC during the most recent quarter. The investment firm sold 5,997 shares of UEIC which is valued $458,531.Blackrock Fund Advisors reduced its stake in UEIC by selling 14,781 shares or 1.58% in the most recent quarter. The Hedge Fund company now holds 919,300 shares of UEIC which is valued at $70,289,678. Universal Electronics Inc makes up approx 0.01% of Blackrock Fund Advisors’s portfolio. Rothschild Asset Management Inc added UEIC to its portfolio by purchasing 5,440 company shares during the most recent quarter which is valued at $416,323. Universal Electronics Inc makes up approx 0.01% of Rothschild Asset Management Inc’s portfolio.Ftb Advisors boosted its stake in UEIC in the latest quarter, The investment management firm added 44 additional shares and now holds a total of 136 shares of Universal Electronics Inc which is valued at $10,518.

Universal Electronics Inc opened for trading at $74.41 and hit $75.5495 on the upside on Thursday, eventually ending the session at $75.27, with a gain of 1.68% or 1.24 points. The heightened volatility saw the trading volume jump to 57,836 shares. Company has a market cap of $1,089 M.

On the company’s financial health, Universal Electronics Inc reported $0.77 EPS for the quarter, based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus estimate of $0.77. The company had revenue of $172.20 million for the quarter, compared to analysts expectations of $169.97 million. The company’s revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 EPS.

Many Wall Street Analysts have commented on Universal Electronics Inc. Lake Street Initiated Universal Electronics Inc on Aug 18, 2016 to “Buy”, Price Target of the shares are set at $87.Sidoti Initiated Universal Electronics Inc on Jul 22, 2016 to “Buy”, Price Target of the shares are set at $98.Company shares were Reiterated by Dougherty & Company on Jul 15, 2016 to “Buy”, Firm has raised the Price Target to $ 86 from a previous price target of $70 .

Universal Electronics Inc. (UEI) develops control technology solutions and manufactures a line of pre-programmed universal remote control products embedded hardware and software and audio-video (AV) accessories for home entertainment systems. The Company’s offerings include pre-programmed universal infrared (IR) and radio frequency (RF) remote controls; audio-video (AV) accessories; integrated circuits on which its software and universal device control database is embedded; software firmware and technology solutions that can enable devices such as TVs set-top boxes stereos smart phones tablets gaming controllers and other consumer electronic devices to wirelessly connect and interact with home networks and interactive services and intellectual property which the Company licenses to OEMs software development companies private label customers and subscription broadcasting providers.

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