Ergoteles LLC Takes $250,000 Position in Universal Electronics Inc. (NASDAQ:UEIC)

Ergoteles LLC acquired a new stake in Universal Electronics Inc. (NASDAQ:UEIC – Get Rating) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 12,716 shares of the technology company’s stock, valued at approximately $250,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Tower Research Capital LLC TRC raised its holdings in shares of Universal Electronics by 117.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,408 shares of the technology company’s stock valued at $28,000 after purchasing an additional 761 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Universal Electronics by 20.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 685,501 shares of the technology company’s stock valued at $13,484,000 after purchasing an additional 115,822 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Universal Electronics by 19.2% in the 3rd quarter. Victory Capital Management Inc. now owns 32,000 shares of the technology company’s stock valued at $629,000 after purchasing an additional 5,150 shares in the last quarter. Lapides Asset Management LLC raised its holdings in shares of Universal Electronics by 3.9% in the 3rd quarter. Lapides Asset Management LLC now owns 266,000 shares of the technology company’s stock valued at $5,232,000 after purchasing an additional 9,900 shares in the last quarter. Finally, Peregrine Capital Management LLC raised its holdings in shares of Universal Electronics by 48.9% in the 3rd quarter. Peregrine Capital Management LLC now owns 281,028 shares of the technology company’s stock valued at $5,528,000 after purchasing an additional 92,236 shares in the last quarter. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Universal Electronics Price Performance

Shares of NASDAQ:UEIC opened at $12.14 on Monday. The company’s fifty day moving average price is $20.98 and its 200 day moving average price is $20.93. Universal Electronics Inc. has a 12 month low of $11.74 and a 12 month high of $34.39. The firm has a market capitalization of $153.94 million, a P/E ratio of 404.80 and a beta of 1.26.

Analyst Ratings Changes

UEIC has been the topic of a number of analyst reports. B. Riley lowered shares of Universal Electronics from a “buy” rating to a “neutral” rating and raised their price objective for the company from $22.00 to $29.00 in a report on Friday, February 17th. StockNews.com lowered shares of Universal Electronics from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 20th. Rosenblatt Securities lowered shares of Universal Electronics from a “buy” rating to a “neutral” rating and cut their price target for the stock from $36.00 to $20.00 in a research note on Friday, February 17th. Finally, Sidoti lowered shares of Universal Electronics from a “buy” rating to a “neutral” rating and set a $20.00 price target on the stock. in a research note on Friday, February 17th. Four investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $23.00.

Universal Electronics Company Profile

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Universal Electronics, Inc engages in the design, development, and trade of control and sensor technology solutions. Its products include one for all retail accessories, tablets and smartphones, and consumer electronics OEM. The firm’s services include design, global manufacturing, and outsourced call center services.