Universal Electronics Inc. (UEIC) Trading Down 4.6%
Universal Electronics Inc. (NASDAQ:UEIC) fell 4.6% during mid-day trading on Friday . The stock traded as low as $72.60 and last traded at $74.01, with a volume of 105,498 shares trading hands. The stock had previously closed at $77.61.
Several brokerages have recently issued reports on UEIC. B. Riley reaffirmed a “neutral” rating and issued a $73.50 price target on shares of Universal Electronics in a research report on Friday. Sidoti began coverage on Universal Electronics in a research report on Friday, July 22nd. They issued a “buy” rating on the stock. Dougherty & Co raised their price target on Universal Electronics from $70.00 to $86.00 and gave the company a “buy” rating in a research report on Friday, July 15th. Finally, Zacks Investment Research downgraded Universal Electronics from a “buy” rating to a “hold” rating in a research report on Thursday, July 7th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $72.50.
The firm has a 50 day moving average price of $72.87 and a 200-day moving average price of $63.04. The stock has a market cap of $1.09 billion and a price-to-earnings ratio of 42.69.
Universal Electronics (NASDAQ:UEIC) last announced 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. The company earned $172.20 million during the quarter, compared to analyst estimates of $170.02 million. Universal Electronics’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.67 earnings per share. On average, analysts anticipate that Universal Electronics Inc. will post $3.36 EPS for the current year.
In other Universal Electronics news, SVP Richard A. Firehammer, Jr. sold 2,697 shares of the business’s stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $64.30, for a total transaction of $173,417.10. Following the sale, the senior vice president now directly owns 270 shares of the company’s stock, valued at approximately $17,361. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Paul J. Bennett sold 13,100 shares of the business’s stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $66.50, for a total transaction of $871,150.00. Following the sale, the executive vice president now directly owns 41,899 shares in the company, valued at $2,786,283.50. The disclosure for this sale can be found here.
A number of large investors have modified their holdings of UEIC. GSA Capital Partners LLP acquired a new stake in shares of Universal Electronics during the fourth quarter valued at approximately $1,070,000. Bank of Montreal Can boosted its stake in shares of 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. New York State Common Retirement Fund boosted its stake in shares of 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. Finally, California Public Employees Retirement System boosted its stake in shares of 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.
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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