Insider Selling: Universal Electronics EVP Sells 7,553 Shares of Stock (UEIC)
Universal Electronics (NASDAQ:UEIC) EVP David Cheung Hyen Chong sold 7,553 shares of the stock on the open market in a transaction dated Monday, June 9th. The shares were sold at an average price of $46.13, for a total value of $348,419.89. Following the sale, the executive vice president now directly owns 6,980 shares in the company, valued at approximately $321,987. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on UEIC shares. Analysts at B. Riley downgraded shares of Universal Electronics from a “buy” rating to a “neutral” rating in a research note on Monday, June 2nd. They now have a $45.75 price target on the stock, down previously from $47.00. Separately, analysts at Sidoti initiated coverage on shares of Universal Electronics in a research note on Thursday, May 29th. They set a “buy” rating on the stock. Finally, analysts at Zacks upgraded shares of Universal Electronics from a “neutral” rating to an “outperform” rating in a research note on Monday, April 14th. They now have a $44.80 price target on the stock. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Universal Electronics presently has an average rating of “Buy” and a consensus target price of $41.31.
Universal Electronics (NASDAQ:UEIC) traded up 0.41% on Tuesday, hitting $46.75. The stock had a trading volume of 40,581 shares. Universal Electronics has a 1-year low of $25.83 and a 1-year high of $46.79. The stock has a 50-day moving average of $40.62 and a 200-day moving average of $38.66. The company has a market cap of $743.9 million and a price-to-earnings ratio of 30.41.
Universal Electronics (NASDAQ:UEIC) last announced its earnings results on Thursday, May 1st. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. The company had revenue of $129.80 million for the quarter, compared to the consensus estimate of $123.21 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. On average, analysts predict that Universal Electronics will post $2.35 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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