Universal Electronics Inc. (UEIC) Receives $75.08 Consensus Price Target from Analysts
Shares of Universal Electronics Inc. (NASDAQ:UEIC) have been given a consensus rating of “Buy” by the seven analysts that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $75.08.
A number of brokerages recently issued reports on UEIC. Zacks Investment Research lowered Universal Electronics from a “hold” rating to a “sell” rating in a research report on Thursday, May 4th. B. Riley reissued a “buy” rating and issued a $77.25 target price on shares of Universal Electronics in a research report on Friday, May 5th. Lake Street Capital lowered Universal Electronics from a “buy” rating to a “hold” rating and set a $71.00 target price on the stock. in a research report on Friday, May 5th. Piper Jaffray Companies reissued a “buy” rating and issued a $77.00 target price on shares of Universal Electronics in a research report on Friday, May 5th. Finally, BidaskClub raised Universal Electronics from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th.
In other Universal Electronics news, Director Edward K. Zinser sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $72.00, for a total value of $720,000.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $1,440,000. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.82% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue increased its position in Universal Electronics by 1.3% in the first quarter. State of Alaska Department of Revenue now owns 1,590 shares of the technology company’s stock worth $108,000 after buying an additional 20 shares in the last quarter. Victory Capital Management Inc. increased its position in Universal Electronics by 23.8% in the first quarter. Victory Capital Management Inc. now owns 1,667 shares of the technology company’s stock worth $114,000 after buying an additional 321 shares in the last quarter. First Mercantile Trust Co. increased its position in Universal Electronics by 7.7% in the first quarter. First Mercantile Trust Co. now owns 2,556 shares of the technology company’s stock worth $175,000 after buying an additional 183 shares in the last quarter. Mason Street Advisors LLC increased its position in Universal Electronics by 6.3% in the first quarter. Mason Street Advisors LLC now owns 3,384 shares of the technology company’s stock worth $232,000 after buying an additional 200 shares in the last quarter. Finally, Invictus RG bought a new position in Universal Electronics during the first quarter worth $236,000. Hedge funds and other institutional investors own 92.86% of the company’s stock.
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Shares of Universal Electronics (NASDAQ:UEIC) traded down 1.91% during midday trading on Monday, hitting $66.80. The company had a trading volume of 34,759 shares. Universal Electronics has a 12-month low of $52.90 and a 12-month high of $80.42. The firm has a market capitalization of $964.06 million, a P/E ratio of 55.67 and a beta of 1.65. The firm’s 50-day moving average is $66.87 and its 200-day moving average is $66.34.
Universal Electronics (NASDAQ:UEIC) last announced its earnings results on Thursday, May 4th. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.02. Universal Electronics had a return on equity of 14.40% and a net margin of 2.68%. The business had revenue of $162.30 million for the quarter, compared to analyst estimates of $158.77 million. During the same quarter last year, the firm earned $0.50 EPS. Universal Electronics’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, analysts predict that Universal Electronics will post $3.35 earnings per share for the current fiscal 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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