Universal Electronics Inc. (UEIC) Stock Price Up 4.8%
Shares of Universal Electronics Inc. (NASDAQ:UEIC) rose 4.8% during trading on Friday . The stock traded as high as $75.44 and last traded at $75.43, with a volume of 118,019 shares traded. The stock had previously closed at $71.98.
UEIC has been the subject of several research reports. Zacks Investment Research cut Universal Electronics from a “buy” rating to a “hold” rating in a research report on Thursday, April 21st. Dougherty & Co boosted their price target on Universal Electronics from $70.00 to $86.00 and gave the stock a “buy” rating in a research report on Friday, July 15th. Sidoti began coverage on Universal Electronics in a research report on Friday. They set a “buy” rating for the company. Finally, B. Riley restated a “neutral” rating and issued a $60.00 target price on shares of Universal Electronics in a report on Thursday, May 12th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Universal Electronics currently has a consensus rating of “Buy” and a consensus price target of $69.80.
The stock’s 50 day moving average is $69.93 and its 200 day moving average is $60.95. The company has a market capitalization of $1.10 billion and a P/E ratio of 43.07.
Universal Electronics (NASDAQ:UEIC) last issued its quarterly earnings data on Thursday, May 5th. The company reported $0.50 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by $0.04. The business earned $151.50 million during the quarter, compared to the consensus estimate of $159.59 million. Universal Electronics’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 EPS. On average, equities analysts anticipate that Universal Electronics Inc. will post $3.36 earnings per share for the current year.
In other Universal Electronics news, Director Edward K. Zinser sold 10,588 shares of the business’s stock in a transaction dated Friday, June 10th. The stock was sold at an average price of $65.23, for a total transaction of $690,655.24. Following the transaction, the director now owns 11,288 shares in the company, valued at $736,316.24. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Edward K. Zinser sold 2,600 shares of the business’s stock in a transaction dated Tuesday, June 14th. The stock was sold at an average price of $68.70, for a total value of $178,620.00. Following the transaction, the director now owns 7,500 shares in the company, valued at approximately $515,250. The disclosure for this sale can be found here.
Several hedge funds and institutional investors recently modified their holdings of the company. Russell Frank Co boosted its position in shares of Universal Electronics by 27.0% in the fourth quarter. Russell Frank Co now owns 125,195 shares of the company’s stock worth $6,450,000 after buying an additional 26,598 shares in the last quarter. California Public Employees Retirement System boosted its position in Universal Electronics by 4.8% in the fourth quarter. California Public Employees Retirement System now owns 52,100 shares of the company’s stock valued at $2,675,000 after buying an additional 2,400 shares during the period. New York State Common Retirement Fund boosted its position in Universal Electronics by 3.0% in the fourth quarter. New York State Common Retirement Fund now owns 34,356 shares of the company’s stock valued at $1,764,000 after buying an additional 1,000 shares during the period. GSA Capital Partners LLP acquired a new position in Universal Electronics during the fourth quarter valued at approximately $1,070,000. Finally, Bank of Montreal Can boosted its position in Universal Electronics by 38,280.3% in the fourth quarter. Bank of Montreal Can now owns 120,898 shares of the company’s stock valued at $6,208,000 after buying an additional 120,583 shares during the period.
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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