Universal Electronics Inc. (UEIC) Reaches New 52-Week High at $74.89
Universal Electronics Inc. (NASDAQ:UEIC) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $74.89 and last traded at $73.66, with a volume of 49,561 shares traded. The stock had previously closed at $73.58.
Several research firms have recently issued reports on UEIC. B. Riley reissued a “neutral” rating and issued a $60.00 price target on shares of Universal Electronics in a research note on Friday, May 6th. Zacks Investment Research cut Universal Electronics from a “buy” rating to a “hold” rating in a research note on Thursday, July 7th.
The stock has a market capitalization of $1.08 billion and a price-to-earnings ratio of 42.34. The firm’s 50 day moving average is $68.42 and its 200 day moving average is $60.06.
Universal Electronics (NASDAQ:UEIC) last announced its quarterly earnings data on Thursday, May 5th. The company reported $0.50 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by $0.04. The business earned $151.50 million during the quarter, compared to the consensus estimate of $159.59 million. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.46 EPS. Equities research analysts forecast that Universal Electronics Inc. will post $3.36 EPS for the current year.
In related news, Director Edward K. Zinser sold 2,600 shares of the firm’s stock in a transaction that occurred 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 owns 7,500 shares in the company, valued at approximately $515,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Richard A. Firehammer, Jr. sold 2,697 shares of the firm’s stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $64.30, for a total value of $173,417.10. Following the transaction, 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.
Several institutional investors recently bought and sold shares of the company. GSA Capital Partners LLP bought a new position in Universal Electronics during the fourth quarter valued at approximately $1,070,000. New York State Common Retirement Fund increased 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 during the period. Monarch Partners Asset Management LLC bought a new position in Universal Electronics during the fourth quarter valued at approximately $2,008,000. California Public Employees Retirement System increased 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 during the period. Finally, Bank of Montreal Can increased 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 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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