Universal Electronics Inc. (UEIC) Rating Increased to Hold at ValuEngine
ValuEngine upgraded shares of Universal Electronics Inc. (NASDAQ:UEIC) from a sell rating to a hold rating in a research report report published on Tuesday.
Other analysts have also recently issued research reports about the company. B. Riley reissued a buy rating and set a $77.25 price objective on shares of Universal Electronics in a research report on Monday, July 31st. Zacks Investment Research raised Universal Electronics from a strong sell rating to a hold rating in a research report on Wednesday, July 5th. Piper Jaffray Companies reissued a buy rating and set a $77.00 price objective on shares of Universal Electronics in a research report on Friday, May 5th. Finally, BidaskClub cut Universal Electronics from a sell rating to a strong sell rating in a research report on Saturday, August 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $74.06.
Universal Electronics (UEIC) opened at 56.80 on Tuesday. Universal Electronics has a 52-week low of $52.90 and a 52-week high of $78.33. The firm has a market capitalization of $817.98 million, a P/E ratio of 52.54 and a beta of 1.65. The firm has a 50-day moving average price of $63.84 and a 200 day moving average price of $65.96.
Universal Electronics (NASDAQ:UEIC) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.78 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.78. The firm had revenue of $177.58 million during the quarter, compared to analysts’ expectations of $176.12 million. Universal Electronics had a return on equity of 11.97% and a net margin of 2.37%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 earnings per share. Analysts forecast that Universal Electronics will post $3.14 EPS for the current year.
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In related news, Director William C. Mulligan bought 5,000 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were bought at an average cost of $55.91 per share, for a total transaction of $279,550.00. Following the completion of the acquisition, the director now directly owns 17,966 shares in the company, valued at $1,004,479.06. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 5.82% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Ameriprise Financial Inc. raised its position in Universal Electronics by 13.4% in the first quarter. Ameriprise Financial Inc. now owns 95,130 shares of the technology company’s stock valued at $6,516,000 after buying an additional 11,210 shares during the period. Karp Capital Management Corp bought a new position in Universal Electronics during the first quarter valued at $307,000. Comerica Bank raised its position in Universal Electronics by 2.9% in the first quarter. Comerica Bank now owns 16,012 shares of the technology company’s stock valued at $1,111,000 after buying an additional 456 shares during the period. BNP Paribas Arbitrage SA raised its position in Universal Electronics by 7.4% in the first quarter. BNP Paribas Arbitrage SA now owns 3,748 shares of the technology company’s stock valued at $257,000 after buying an additional 259 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Universal Electronics by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 181,621 shares of the technology company’s stock valued at $12,440,000 after buying an additional 2,825 shares during the period. Institutional investors own 94.57% of the company’s stock.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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