Universal Electronics Inc. (UEIC) Shares Down 4.6%
Universal Electronics Inc. (NASDAQ:UEIC)’s share price traded down 4.6% during mid-day trading on Friday . The company traded as low as $72.60 and last traded at $74.01, with a volume of 105,498 shares changing hands. The stock had previously closed at $77.61.
A number of equities analysts recently issued reports on the stock. B. Riley reiterated a “neutral” rating and issued a $73.50 target price on shares of Universal Electronics in a research report on Friday. Zacks Investment Research lowered shares of Universal Electronics from a “buy” rating to a “hold” rating in a research report on Thursday, April 21st. Dougherty & Co raised their price objective on shares of Universal Electronics from $70.00 to $86.00 and gave the company a “buy” rating in a research report on Friday, July 15th. Finally, Sidoti started coverage on shares of Universal Electronics in a research report on Friday, July 22nd. They set a “buy” rating for the company. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $72.50.
The firm has a market capitalization of $1.09 billion and a P/E ratio of 42.69. The firm’s 50-day moving average is $73.07 and its 200-day moving average is $63.13.
Universal Electronics (NASDAQ:UEIC) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.77 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.77. The company had revenue of $172.20 million for the quarter, compared to the consensus estimate of $170.02 million. The firm’s revenue was up 16.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.67 earnings per share. Equities research analysts expect that Universal Electronics Inc. will post $3.36 earnings per share for the current year.
In other Universal Electronics news, SVP Richard A. Firehammer, Jr. sold 2,697 shares of Universal Electronics stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $64.30, for a total transaction of $173,417.10. Following the completion of the transaction, the senior vice president now directly owns 270 shares of the company’s stock, valued at $17,361. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Edward K. Zinser sold 10,588 shares of Universal Electronics stock in a transaction on Friday, June 10th. The shares were sold at an average price of $65.23, for a total value of $690,655.24. Following the transaction, the director now directly owns 11,288 shares of the company’s stock, valued at $736,316.24. The disclosure for this sale can be found here.
Several hedge funds and institutional investors recently modified their holdings of the stock. GSA Capital Partners LLP bought a new position in shares of Universal Electronics during the fourth quarter worth about $1,070,000. New York State Common Retirement Fund boosted its position 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 worth $1,764,000 after buying an additional 1,000 shares during the last quarter. Finally, California Public Employees Retirement System boosted its position 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 worth $2,675,000 after buying an additional 2,400 shares during the last quarter.
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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