Universal Electronics Inc. (NASDAQ:UEIC) Stock Position Trimmed by Geode Capital Management LLC

Geode Capital Management LLC decreased its position in Universal Electronics Inc. (NASDAQ:UEIC) by 13.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 114,148 shares of the technology company’s stock after selling 17,473 shares during the period. Geode Capital Management LLC owned approximately 0.88% of Universal Electronics worth $1,054,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Acadian Asset Management LLC grew its holdings in Universal Electronics by 9.1% in the 2nd quarter. Acadian Asset Management LLC now owns 499,940 shares of the technology company’s stock worth $5,804,000 after buying an additional 41,795 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Universal Electronics by 24.8% in the second quarter. American Century Companies Inc. now owns 165,845 shares of the technology company’s stock worth $1,927,000 after purchasing an additional 32,911 shares in the last quarter. Sei Investments Co. bought a new position in shares of Universal Electronics in the second quarter worth $212,000. Jane Street Group LLC acquired a new position in shares of Universal Electronics during the third quarter valued at $163,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Universal Electronics by 3.6% during the second quarter. Dimensional Fund Advisors LP now owns 392,822 shares of the technology company’s stock valued at $4,565,000 after purchasing an additional 13,495 shares in the last quarter. Institutional investors and hedge funds own 79.35% of the company’s stock.

Insider Buying and Selling at Universal Electronics

In related news, CEO Paul D. Arling sold 13,185 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $11.73, for a total transaction of $154,660.05. Following the transaction, the chief executive officer now owns 283,615 shares of the company’s stock, valued at approximately $3,326,803.95. This trade represents a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward K. Zinser sold 2,500 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $10.68, for a total transaction of $26,700.00. Following the completion of the sale, the director now owns 38,062 shares of the company’s stock, valued at $406,502.16. This represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. B. Riley raised shares of Universal Electronics from a “neutral” rating to a “buy” rating and raised their target price for the company from $11.00 to $14.00 in a research note on Monday, November 11th. StockNews.com upgraded shares of Universal Electronics from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Finally, Rosenblatt Securities upgraded Universal Electronics from a “neutral” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Friday, November 8th.

Universal Electronics Trading Down 0.6 %

Shares of Universal Electronics stock opened at $10.22 on Friday. Universal Electronics Inc. has a 52 week low of $7.53 and a 52 week high of $14.20. The stock has a market cap of $133.15 million, a PE ratio of -4.99 and a beta of 1.20. The company’s 50-day moving average price is $10.88 and its two-hundred day moving average price is $10.13.

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.