According to Zacks, “Universal Electronics Inc. develops software, and builds and markets pre-programmed, easy-to-use wireless control devices and chips principally for home entertainment equipment and the subscription broadcast market. The company’s product lines under development include wireless interface technologies, such as combination keyboard/remotes and touch-screen remotes. The company licenses its patented technologies and database of infrared codes to companies selling into the cable and satellite industries, and to original equipment manufacturers. (PRESS RELEASE) “
A number of other brokerages have also issued reports on UEIC. Lake Street Capital began coverage on Universal Electronics in a research report on Thursday, August 18th. They issued a buy rating and a $87.00 target price on the stock. B. Riley reiterated a neutral rating and issued a $73.50 price target on shares of Universal Electronics in a report on Friday, August 5th. Dougherty & Co boosted their price target on Universal Electronics from $70.00 to $86.00 and gave the company a buy rating in a report on Friday, July 15th. Finally, Sidoti began coverage on Universal Electronics in a report on Friday, July 22nd. They issued a buy rating for the company. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $74.92.
Shares of Universal Electronics (NASDAQ:UEIC) opened at 70.87 on Thursday. The firm has a 50-day moving average price of $74.69 and a 200-day moving average price of $70.33. The firm has a market cap of $1.03 billion, a P/E ratio of 42.13 and a beta of 1.75. Universal Electronics has a 12-month low of $44.13 and a 12-month high of $80.42.
Universal Electronics (NASDAQ:UEIC) last announced its earnings results on Thursday, August 4th. The company reported $0.77 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.77. Universal Electronics had a return on equity of 16.53% and a net margin of 3.87%. The company had revenue of $172.20 million for the quarter, compared to analyst estimates of $170.02 million. During the same period in the prior year, the company posted $0.67 EPS. Universal Electronics’s quarterly revenue was up 16.7% on a year-over-year basis. On average, equities research analysts expect that Universal Electronics will post $3.27 earnings per share for the current fiscal year.
In related news, CFO Bryan M. Hackworth sold 23,000 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $78.42, for a total transaction of $1,803,660.00. Following the completion of the transaction, the chief financial officer now directly owns 41,314 shares in the company, valued at approximately $3,239,843.88. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Paul D. Arling sold 6,439 shares of the company’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $77.10, for a total value of $496,446.90. Following the transaction, the chief executive officer now owns 173,814 shares of the company’s stock, valued at $13,401,059.40. The disclosure for this sale can be found here. Corporate insiders own 5.82% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of UEIC. Victory Capital Management Inc. increased its position 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 worth $106,000 after buying an additional 640 shares during the last quarter. PineBridge Investments L.P. increased its position 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 worth $132,000 after buying an additional 59 shares during the last quarter. Teacher Retirement System of Texas increased its position 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 worth $147,000 after buying an additional 248 shares during the last quarter. Smith Asset Management Group LP increased its position 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 worth $157,000 after buying an additional 900 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Universal Electronics by 12.0% in the first quarter. Legal & General Group Plc now owns 2,647 shares of the company’s stock worth $165,000 after buying an additional 284 shares during the last quarter. Hedge funds and other institutional investors own 93.76% 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.
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