Universal Electronics Inc. (NASDAQ:UEIC) has been assigned an average recommendation of “Buy” from the six ratings firms that are presently covering the stock. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $82.17.
UEIC has been the topic of several analyst reports. Zacks Investment Research downgraded Universal Electronics from a “buy” rating to a “hold” rating in a research report on Thursday, July 7th. Lake Street Capital initiated coverage on Universal Electronics in a research report on Thursday, August 18th. They set a “buy” rating and a $87.00 target price on the stock. Sidoti initiated coverage on Universal Electronics in a research report on Friday, July 22nd. They set a “buy” rating on the stock. Dougherty & Co lifted their target price on Universal Electronics from $70.00 to $86.00 and gave the company a “buy” rating in a research report on Friday, July 15th. Finally, B. Riley restated a “neutral” rating and issued a $73.50 price objective on shares of Universal Electronics in a research report on Wednesday, August 10th.
In related news, CEO Paul D. Arling sold 6,439 shares of the business’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $77.10, for a total value of $496,446.90. Following the sale, the chief executive officer now directly owns 173,814 shares in the company, valued at $13,401,059.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Bryan M. Hackworth sold 23,000 shares of the business’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $78.42, for a total value of $1,803,660.00. Following the completion of the sale, the chief financial officer now owns 41,314 shares in the company, valued at $3,239,843.88. The disclosure for this sale can be found here. 5.82% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of the company. William Blair Investment Management LLC increased its stake in Universal Electronics by 323.9% in the second quarter. William Blair Investment Management LLC now owns 717,505 shares of the company’s stock worth $51,861,000 after buying an additional 548,254 shares in the last quarter. Loomis Sayles & Co. L P bought a new stake in shares of Universal Electronics during the first quarter valued at $12,634,000. UBS Asset Management Americas Inc. boosted its stake in shares of Universal Electronics by 4,267.6% in the second quarter. UBS Asset Management Americas Inc. now owns 179,073 shares of the company’s stock valued at $12,943,000 after buying an additional 174,973 shares during the last quarter. Columbus Circle Investors bought a new stake in shares of Universal Electronics during the second quarter valued at $12,631,000. Finally, NWQ Investment Management Company LLC bought a new stake in shares of Universal Electronics during the first quarter valued at $9,475,000. Institutional investors own 93.76% of the company’s stock.
Universal Electronics (NASDAQ:UEIC) opened at 77.58 on Wednesday. The company’s 50-day moving average price is $75.75 and its 200 day moving average price is $69.23. Universal Electronics has a 52-week low of $40.28 and a 52-week high of $80.42. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 46.12 and a beta of 1.80.
Universal Electronics (NASDAQ:UEIC) last released its earnings results on Thursday, August 4th. The company reported $0.77 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.77. The company had revenue of $172.20 million for the quarter, compared to the consensus estimate of $170.02 million. Universal Electronics had a return on equity of 16.53% and a net margin of 3.87%. Universal Electronics’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.67 earnings per share. On average, equities analysts expect that Universal Electronics will post $3.27 EPS for the current fiscal year.
About Universal Electronics
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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