Universal Electronics Inc. (NASDAQ:UEIC) Receives Average Rating of “Buy” from Analysts
Universal Electronics Inc. (NASDAQ:UEIC) has earned a consensus rating of “Buy” from the six research firms that are covering the firm. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $82.17.
Several research firms have commented on UEIC. Zacks Investment Research cut Universal Electronics from a “hold” rating to a “sell” rating in a report on Wednesday, September 7th. B. Riley reiterated a “neutral” rating and set a $73.50 target price on shares of Universal Electronics in a report on Wednesday, August 10th. Dougherty & Co boosted their target price on Universal Electronics from $70.00 to $86.00 and gave the stock a “buy” rating in a report on Friday, July 15th. Sidoti initiated coverage on Universal Electronics in a report on Friday, July 22nd. They set a “buy” rating for the company. Finally, Lake Street Capital initiated coverage on Universal Electronics in a report on Thursday, August 18th. They set a “buy” rating and a $87.00 target price for the company.
In related news, CEO Paul D. Arling sold 3,300 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $77.00, for a total transaction of $254,100.00. Following the transaction, the chief executive officer now directly owns 170,675 shares of the company’s stock, valued at approximately $13,141,975. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David Cheung Hyen Chong sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $75.77, for a total value of $265,195.00. Following the transaction, the insider now directly owns 25,076 shares in the company, valued at $1,900,008.52. The disclosure for this sale can be found here. Corporate insiders own 5.82% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in UEIC. William Blair Investment Management LLC raised its position in Universal Electronics by 323.9% in the second quarter. William Blair Investment Management LLC now owns 717,505 shares of the company’s stock valued at $51,861,000 after buying an additional 548,254 shares during the period. Vanguard Group Inc. raised its position in shares of Universal Electronics by 1.1% in the second quarter. Vanguard Group Inc. now owns 642,207 shares of the company’s stock worth $46,419,000 after buying an additional 7,149 shares during the last quarter. Loomis Sayles & Co. L P raised its position in shares of Universal Electronics by 19.2% in the second quarter. Loomis Sayles & Co. L P now owns 242,906 shares of the company’s stock worth $17,557,000 after buying an additional 39,104 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Universal Electronics by 4,267.6% in the second quarter. UBS Asset Management Americas Inc. now owns 179,073 shares of the company’s stock worth $12,943,000 after buying an additional 174,973 shares during the last quarter. Finally, Frontier Capital Management Co. LLC raised its position in shares of Universal Electronics by 11.5% in the second quarter. Frontier Capital Management Co. LLC now owns 178,586 shares of the company’s stock worth $12,908,000 after buying an additional 18,394 shares during the last quarter. 93.76% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Universal Electronics (NASDAQ:UEIC) traded up 3.074% during trading on Wednesday, reaching $75.955. 121,815 shares of the company’s stock traded hands. The stock has a market capitalization of $1.10 billion, a PE ratio of 45.158 and a beta of 1.80. The company has a 50 day moving average price of $75.73 and a 200 day moving average price of $68.97. Universal Electronics has a 1-year low of $40.28 and a 1-year high of $80.42.
Universal Electronics (NASDAQ:UEIC) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.77 EPS for the quarter, meeting the consensus estimate of $0.77. The company earned $172.20 million during the quarter, compared to analysts’ expectations of $170.02 million. Universal Electronics had a return on equity of 16.53% and a net margin of 3.87%. The firm’s revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.67 EPS. On average, equities analysts forecast that Universal Electronics will post $3.27 EPS for the current fiscal year.
Universal Electronics Company Profile
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.
Receive News & Ratings for Universal Electronics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Electronics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.