Universal Electronics Inc. (UEIC) Stock Price Up 4.8%
Shares of Universal Electronics Inc. (NASDAQ:UEIC) rose 4.8% on Friday . The stock traded as high as $75.44 and last traded at $75.43, with a volume of 118,019 shares changing hands. The stock had previously closed at $71.98.
UEIC has been the topic of several research reports. B. Riley restated a “neutral” rating and set a $60.00 price objective on shares of Universal Electronics in a research report on Friday, May 6th. Dougherty & Co lifted their target price on shares of Universal Electronics from $70.00 to $86.00 and gave the stock a “buy” rating in a research report on Friday, July 15th. Sidoti started coverage on shares of Universal Electronics in a research report on Friday. They issued a “buy” rating on the stock. Finally, Zacks Investment Research cut shares of Universal Electronics from a “buy” rating to a “hold” rating in a research report on Thursday, April 21st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $69.80.
The stock has a 50 day moving average price of $70.25 and a 200 day moving average price of $61.15. The stock has a market cap of $1.10 billion and a price-to-earnings ratio of 43.07.
Universal Electronics (NASDAQ:UEIC) last posted its quarterly earnings results on Thursday, May 5th. The company reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.54 by $0.04. During the same period in the prior year, the firm posted $0.46 EPS. The business had revenue of $151.50 million for the quarter, compared to analyst estimates of $159.59 million. Universal Electronics’s revenue for the quarter was up 14.2% on a year-over-year basis. On average, equities research analysts expect 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 2,600 shares of the company’s stock in a transaction that occurred on Tuesday, June 14th. The shares were sold at an average price of $68.70, for a total value of $178,620.00. Following the completion of the transaction, the director now directly owns 7,500 shares in the company, valued at $515,250. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Paul J. Bennett sold 13,100 shares of the company’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $66.50, for a total transaction of $871,150.00. Following the completion of the transaction, the executive vice president now owns 41,899 shares of the company’s stock, valued at $2,786,283.50. The disclosure for this sale can be found here.
Several institutional investors recently modified their holdings of the company. Russell Frank Co raised 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 raised its position in shares of Universal Electronics by 4.8% in the fourth quarter. California Public Employees Retirement System now owns 52,100 shares of the company’s stock worth $2,675,000 after buying an additional 2,400 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of 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 worth $1,764,000 after buying an additional 1,000 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Universal Electronics during the fourth quarter worth $1,070,000. Finally, Bank of Montreal Can raised its position in shares of Universal Electronics by 38,280.3% in the fourth quarter. Bank of Montreal Can now owns 120,898 shares of the company’s stock worth $6,208,000 after buying an additional 120,583 shares in the last quarter.
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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