Universal Electronics Inc. (UEIC) Reaches New 1-Year High at $76.50
Universal Electronics Inc. (NASDAQ:UEIC) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $76.50 and last traded at $74.92, with a volume of 32,443 shares. The stock had previously closed at $76.24.
Several equities research analysts have issued reports on UEIC shares. Zacks Investment Research raised Universal Electronics from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a research note on Tuesday, May 10th. Sidoti started coverage on Universal Electronics in a research note on Friday. They set a “buy” rating for the company. Dougherty & Co boosted their target price on Universal Electronics from $70.00 to $86.00 and gave the company a “buy” rating in a research note on Friday, July 15th. Finally, B. Riley reissued a “neutral” rating and issued a $60.00 target price on shares of Universal Electronics in a research note on Friday, May 6th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $69.80.
The company’s 50-day moving average price is $70.25 and its 200-day moving average price is $61.15. The firm has a market capitalization of $1.08 billion and a price-to-earnings ratio of 42.25.
Universal Electronics (NASDAQ:UEIC) last released its quarterly earnings results on Thursday, May 5th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by $0.04. The business had revenue of $151.50 million for the quarter, compared to analyst estimates of $159.59 million. During the same quarter in the prior year, the company earned $0.46 earnings per share. The company’s revenue was up 14.2% on a year-over-year basis. On average, equities research analysts forecast that Universal Electronics Inc. will post $3.36 earnings per share for the current fiscal year.
In other Universal Electronics news, SVP Richard A. Firehammer, Jr. sold 2,697 shares of Universal Electronics stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $64.30, for a total value of $173,417.10. Following the transaction, the senior vice president now directly owns 270 shares of the company’s stock, valued at $17,361. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward K. Zinser sold 2,600 shares of Universal Electronics stock in a transaction on Tuesday, June 14th. The stock was sold at an average price of $68.70, for a total transaction 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 disclosure for this sale can be found here.
Other institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP purchased a new position in Universal Electronics during the fourth quarter valued at about $1,070,000. New York State Common Retirement Fund raised 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 in the last quarter. Monarch Partners Asset Management LLC purchased a new position in Universal Electronics during the fourth quarter valued at about $2,008,000. California Public Employees Retirement System raised 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 in the last quarter. Finally, Bank of Montreal Can raised 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 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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