Universal Electronics Inc. (UEIC) Reaches New 1-Year High at $80.42
Universal Electronics Inc. (NASDAQ:UEIC) reached a new 52-week high during trading 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 research analysts have commented on the stock. Zacks Investment Research upgraded shares of Universal Electronics from a “sell” rating to a “hold” rating in a report on Wednesday. B. Riley restated a “neutral” rating and issued a $73.50 price target on shares of Universal Electronics in a report on Wednesday, August 10th. Sidoti initiated coverage on shares of Universal Electronics in a report on Friday, July 22nd. They issued a “buy” rating for the company. Finally, 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 note on Friday, July 15th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Universal Electronics presently has a consensus rating of “Buy” and a consensus price target of $72.50.
The firm’s 50-day moving average price is $74.67 and its 200-day moving average price is $64.85. The firm has a market cap of $1.14 billion and a PE ratio of 47.03.
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 Zacks’ consensus estimate of $0.77. The firm had revenue of $172.20 million for the quarter, compared to the consensus estimate of $170.02 million. The company’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.67 earnings per share. On average, equities research analysts anticipate that Universal Electronics Inc. will post $3.30 EPS for the current fiscal year.
In other news, SVP Richard A. Firehammer, Jr. sold 2,697 shares of the company’s stock in a transaction dated 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 directly owns 270 shares of the company’s stock, valued at approximately $17,361. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward K. Zinser sold 2,600 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 7,500 shares in the company, valued at $515,250. The disclosure for this sale can be found here.
Other hedge funds have added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new stake in Universal Electronics during the fourth quarter worth $1,070,000. Argent Capital Management LLC acquired a new stake in Universal Electronics during the fourth quarter worth $2,596,000. Finally, California Public Employees Retirement System increased its stake 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 worth $2,675,000 after buying an additional 2,400 shares in 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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