Geode Capital Management LLC Has $1.05 Million Stock Position in Universal Electronics Inc. (NASDAQ:UEIC)

Geode Capital Management LLC lessened its stake in Universal Electronics Inc. (NASDAQ:UEIC) by 13.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 114,148 shares of the technology company’s stock after selling 17,473 shares during the quarter. Geode Capital Management LLC’s holdings in Universal Electronics were worth $1,054,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of UEIC. Acadian Asset Management LLC raised its position 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 purchasing an additional 41,795 shares during the last quarter. American Century Companies Inc. raised its position in shares of Universal Electronics by 24.8% during the second quarter. American Century Companies Inc. now owns 165,845 shares of the technology company’s stock worth $1,927,000 after acquiring an additional 32,911 shares during the last quarter. Sei Investments Co. acquired a new position in shares of Universal Electronics during the second quarter valued at $212,000. Jane Street Group LLC bought a new position in Universal Electronics in the third quarter valued at about $163,000. Finally, Dimensional Fund Advisors LP increased its position in Universal Electronics by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 392,822 shares of the technology company’s stock worth $4,565,000 after purchasing an additional 13,495 shares during the period. 79.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on UEIC. Rosenblatt Securities raised shares of Universal Electronics from a “neutral” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Friday, November 8th. B. Riley upgraded shares of Universal Electronics from a “neutral” rating to a “buy” rating and upped their target price for the company from $11.00 to $14.00 in a research report on Monday, November 11th. Finally, StockNews.com upgraded Universal Electronics from a “buy” rating to a “strong-buy” rating in a research report on Thursday.

Insiders Place Their Bets

In other news, Director Edward K. Zinser sold 2,500 shares of Universal Electronics 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 approximately $406,502.16. This trade represents a 6.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Paul D. Arling sold 13,185 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $11.73, for a total transaction of $154,660.05. Following the completion of the sale, the chief executive officer now directly owns 283,615 shares of the company’s stock, valued at $3,326,803.95. This represents a 4.44 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.37% of the company’s stock.

Universal Electronics Trading Down 0.6 %

Shares of UEIC opened at $10.22 on Friday. The stock has a market capitalization of $133.15 million, a price-to-earnings ratio of -4.99 and a beta of 1.20. Universal Electronics Inc. has a 12 month low of $7.53 and a 12 month high of $14.20. The firm has a fifty day simple moving average of $10.88 and a 200 day simple moving average of $10.13.

Universal Electronics Company 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.