Eagle Asset Management Inc Lowers stake in Universal Electronics Inc (UEIC)

Universal Electronics Inc (UEIC) : Eagle Asset Management Inc reduced its stake in Universal Electronics Inc by 8.75% during the most recent quarter end. The investment management company now holds a total of 2,430,510 shares of Universal Electronics Inc which is valued at $172,250,244 after selling 232,986 shares in Universal Electronics Inc , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Universal Electronics Inc makes up approximately 1.19% of Eagle Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Legal General Group Plc boosted its stake in UEIC in the latest quarter, The investment management firm added 9,674 additional shares and now holds a total of 12,237 shares of Universal Electronics Inc which is valued at $867,236. Simplex Trading sold out all of its stake in UEIC during the most recent quarter. The investment firm sold 739 shares of UEIC which is valued $53,607.First Mercantile Trust Co reduced its stake in UEIC by selling 1,250 shares or 19.34% in the most recent quarter. The Hedge Fund company now holds 5,212 shares of UEIC which is valued at $378,078. Universal Electronics Inc makes up approx 0.05% of First Mercantile Trust Co’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in UEIC by selling 2,549 shares or 49.23% in the most recent quarter. The Hedge Fund company now holds 2,629 shares of UEIC which is valued at $191,181.Independent Portfolio Consultants reduced its stake in UEIC by selling 55 shares or 19.64% in the most recent quarter. The Hedge Fund company now holds 225 shares of UEIC which is valued at $16,362. Universal Electronics Inc makes up approx 0.01% of Independent Portfolio Consultants’s portfolio.

Universal Electronics Inc closed down -2.19 points or -3.00% at $70.87 with 75,411 shares getting traded on Tuesday. Post opening the session at $73.3, the shares hit an intraday low of $70.53 and an intraday high of $73.3 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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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