Universal Electronics Inc. (UEIC) Reaches New 12-Month High at $80.42
Universal Electronics Inc. (NASDAQ:UEIC)’s share price reached a new 52-week high on Wednesday . The company traded as high as $80.42 and last traded at $79.76, with a volume of 60,621 shares. The stock had previously closed at $77.88.
A number of equities analysts have weighed in on the company. B. Riley reaffirmed a “neutral” rating and set a $73.50 price target on shares of Universal Electronics in a research report on Wednesday, August 10th. Zacks Investment Research downgraded Universal Electronics from a “buy” rating to a “hold” rating in a report on Thursday, April 21st. Dougherty & Co increased their price objective on Universal Electronics from $70.00 to $86.00 and gave the company a “buy” rating in a report on Friday, July 15th. Lake Street Capital began coverage on Universal Electronics in a report on Thursday. They issued a “buy” rating and a $87.00 price objective for the company. 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 issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $74.92.
The firm has a market cap of $1.14 billion and a price-to-earnings ratio of 46.63. The firm’s 50 day moving average price is $75.03 and its 200-day moving average price is $65.04.
Universal Electronics (NASDAQ:UEIC) last issued its earnings results on Thursday, August 4th. The company reported $0.77 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.77. During the same quarter in the previous year, the firm posted $0.67 earnings per share. The business earned $172.20 million during the quarter, compared to the consensus estimate of $170.02 million. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. On average, equities analysts expect that Universal Electronics Inc. will post $3.30 earnings per share for the current year.
In other news, EVP Paul J. Bennett sold 13,100 shares of the business’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 sale, the executive vice president now owns 41,899 shares in the company, valued at $2,786,283.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Richard A. Firehammer, Jr. sold 2,697 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now owns 270 shares of the company’s stock, valued at approximately $17,361. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Universal Electronics stock. California Public Employees Retirement System boosted its stake in shares of Universal Electronics Inc. (NASDAQ:UEIC) by 4.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,100 shares of the company’s stock after buying an additional 2,400 shares during the period. California Public Employees Retirement System owned about 0.36% of Universal Electronics worth $2,675,000 at the end of the most recent reporting 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.