Universal Electronics CEO Sells $185,202 in Stock (UEIC)
Universal Electronics (NASDAQ:UEIC) CEO Paul Arling unloaded 5,602 shares of the company’s stock on the open market in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $33.06, for a total transaction of $185,202.12. Following the completion of the transaction, the chief executive officer now directly owns 131,450 shares in the company, valued at approximately $4,345,737. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of research firms have recently commented on UEIC. Analysts at Pacific Crest downgraded shares of Universal Electronics (NASDAQ:UEIC) from an “outperform” rating to a “sector perform” rating in a research note to investors on Friday, August 9th. They now have a $26.00 price target on the stock. Separately, analysts at Dougherty & Co raised their price target on shares of Universal Electronics (NASDAQ:UEIC) from $27.00 to $36.00 in a research note to investors on Friday, August 9th. They now have a “buy” rating on the stock. Finally, analysts at Zacks upgraded shares of Universal Electronics (NASDAQ:UEIC) from a “neutral” rating to an “outperform” rating in a research note to investors on Friday, July 5th. They now have a $32.00 price target on the stock.
One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Universal Electronics has a consensus rating of “Buy” and a consensus price target of $31.33.
Shares of Universal Electronics (NASDAQ:UEIC) traded up 2.12% on Tuesday, hitting $33.24. 86,628 shares of the company’s stock traded hands. Universal Electronics has a one year low of $14.36 and a one year high of $35.74. The stock’s 50-day moving average is $31.66 and its 200-day moving average is $27.39. The company has a market cap of $508.0 million and a P/E ratio of 26.70.
Universal Electronics (NASDAQ:UEIC) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.06. The company had revenue of $136.10 million for the quarter, compared to the consensus estimate of $127.04 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. On average, analysts predict that Universal Electronics will post $1.75 earnings per share for the current fiscal year.
Universal Electronics Inc develops and manufactures a line of pre-programmed universal wireless remote control products, audio-video accessories, and software that are marketed for home entertainment systems.
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