Universal Electronics Inc. (UEIC) Sets New 1-Year High at $76.50
Shares of Universal Electronics Inc. (NASDAQ:UEIC) hit a new 52-week high on Monday . The stock traded as high as $76.50 and last traded at $74.92, with a volume of 32,443 shares traded. The stock had previously closed at $76.24.
Several brokerages have weighed in on UEIC. Zacks Investment Research raised Universal Electronics from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a report on Tuesday, May 10th. B. Riley reissued a “neutral” rating and set a $60.00 price objective on shares of Universal Electronics in a report on Thursday, May 12th. Sidoti began coverage on Universal Electronics in a report on Friday, July 22nd. They set a “buy” rating for the company. Finally, Dougherty & Co boosted their price objective on Universal Electronics from $70.00 to $86.00 and gave the stock a “buy” rating in a report on Friday, July 15th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $69.80.
The company’s 50 day moving average price is $70.87 and its 200 day moving average price is $61.75. The company has a market capitalization of $1.09 billion and a P/E ratio of 42.59.
Universal Electronics (NASDAQ:UEIC) last issued its quarterly earnings results on Thursday, May 5th. The company reported $0.50 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by $0.04. During the same quarter in the prior year, the firm earned $0.46 EPS. The company earned $151.50 million during the quarter, compared to the consensus estimate of $159.59 million. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. Equities analysts predict that Universal Electronics Inc. will post $3.36 earnings per share for the current year.
In related news, SVP Richard A. Firehammer, Jr. sold 2,697 shares of the firm’s stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $64.30, for a total value of $173,417.10. Following the sale, the senior vice president now directly owns 270 shares of the company’s stock, valued at $17,361. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward K. Zinser sold 2,600 shares of the firm’s stock in a transaction dated 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 sale, 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 hedge funds have added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new stake in Universal Electronics during the fourth quarter valued at $1,070,000. New York State Common Retirement Fund raised its stake 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. Monarch Partners Asset Management LLC acquired a new stake in Universal Electronics during the fourth quarter valued at $2,008,000. California Public Employees Retirement System raised its stake 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. Finally, Bank of Montreal Can raised its stake 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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