Universal Electronics Inc. (UEIC) Given Average Recommendation of “Buy” by Analysts
Universal Electronics Inc. (NASDAQ:UEIC) has received a consensus rating of “Buy” from the six research firms that are covering the company. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $82.17.
A number of equities analysts have issued reports on the company. B. Riley upgraded Universal Electronics from a “neutral” rating to a “buy” rating and set a $73.50 target price for the company in a report on Monday, November 7th. Zacks Investment Research cut Universal Electronics from a “hold” rating to a “sell” rating in a report on Wednesday, September 7th. Finally, Lake Street Capital started coverage on Universal Electronics in a report on Thursday, August 18th. They issued a “buy” rating and a $87.00 price objective for the company.
In related news, insider David Cheung Hyen Chong sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $75.77, for a total value of $265,195.00. Following the completion of the sale, the insider now directly owns 25,076 shares in the company, valued at approximately $1,900,008.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Louis Sylvester Hughes sold 398 shares of the firm’s stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $76.07, for a total transaction of $30,275.86. The disclosure for this sale can be found here. 5.82% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Victory Capital Management Inc. increased its stake in shares of Universal Electronics by 77.2% in the second quarter. Victory Capital Management Inc. now owns 1,469 shares of the company’s stock valued at $106,000 after buying an additional 640 shares during the period. Schroder Investment Management Group bought a new stake in shares of Universal Electronics during the third quarter valued at about $108,000. PineBridge Investments L.P. increased its stake in shares of Universal Electronics by 3.3% in the second quarter. PineBridge Investments L.P. now owns 1,830 shares of the company’s stock valued at $132,000 after buying an additional 59 shares during the period. Teacher Retirement System of Texas increased its stake in shares of Universal Electronics by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 2,033 shares of the company’s stock valued at $147,000 after buying an additional 248 shares during the period. Finally, Smith Asset Management Group LP increased its stake in shares of Universal Electronics by 70.7% in the second quarter. Smith Asset Management Group LP now owns 2,173 shares of the company’s stock valued at $157,000 after buying an additional 900 shares during the period. Institutional investors and hedge funds own 91.71% of the company’s stock.
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Shares of Universal Electronics (NASDAQ:UEIC) traded up 0.37% during trading on Wednesday, reaching $67.65. The company had a trading volume of 74,664 shares. The firm has a 50 day moving average price of $68.46 and a 200 day moving average price of $71.22. The company has a market cap of $985.80 million, a price-to-earnings ratio of 37.54 and a beta of 1.90. Universal Electronics has a 12 month low of $45.20 and a 12 month high of $80.42.
Universal Electronics (NASDAQ:UEIC) last released its earnings results on Thursday, November 3rd. The company reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.02. The firm earned $170.30 million during the quarter, compared to analysts’ expectations of $173.98 million. Universal Electronics had a return on equity of 16.85% and a net margin of 4.05%. The company’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.78 EPS. Analysts predict that Universal Electronics will post $2.90 earnings per share for the current year.
Universal Electronics Company Profile
Universal Electronics Inc (UEI) develops control and sensor technology solutions and manufactures a line of pre-programmed and universal remote control products, audio-video (AV) accessories, and intelligent wireless security and automation components. The Company’s offerings include pre-programmed universal infrared (IR) and radio frequency (RF) remote controls that are sold primarily to subscription broadcasting providers, original equipment manufacturers (OEMs), retailers, and private label customers, and integrated circuits, on which its software and universal device control database is embedded, sold primarily to OEMs, subscription broadcasting providers, and private label customers.
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