Universal Electronics Inc. (UEIC) Upgraded by BidaskClub to Buy
Universal Electronics Inc. (NASDAQ:UEIC) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a report released on Thursday.
UEIC has been the subject of a number of other research reports. B. Riley reiterated a “buy” rating and set a $77.25 price objective on shares of Universal Electronics in a research report on Wednesday, March 22nd. Lake Street Capital cut Universal Electronics from a “buy” rating to a “hold” rating and set a $71.00 price objective for the company. in a research report on Friday, May 5th. TheStreet upgraded Universal Electronics from a “c+” rating to a “b-” rating in a research report on Thursday, March 16th. Zacks Investment Research cut Universal Electronics from a “buy” rating to a “hold” rating in a research report on Thursday, April 20th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $77.00 price objective on shares of Universal Electronics in a research report on Monday, May 15th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $76.45.
Universal Electronics (UEIC) traded down 0.07% during midday trading on Thursday, hitting $67.75. 13,240 shares of the stock were exchanged. Universal Electronics has a one year low of $52.90 and a one year high of $80.42. The firm has a 50-day moving average price of $65.32 and a 200-day moving average price of $66.19. The stock has a market cap of $977.77 million, a P/E ratio of 56.46 and a beta of 1.65.
Universal Electronics (NASDAQ:UEIC) last posted its quarterly earnings data on Thursday, May 4th. The technology company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. The firm had revenue of $162.30 million during the quarter, compared to analysts’ expectations of $158.77 million. Universal Electronics had a return on equity of 14.40% and a net margin of 2.68%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 EPS. On average, equities research analysts anticipate that Universal Electronics will post $3.35 EPS for the current fiscal year.
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In other Universal Electronics news, Director Edward K. Zinser sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $72.00, for a total value of $720,000.00. Following the sale, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $1,440,000. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 5.82% of the company’s stock.
A number of hedge funds have recently modified their holdings of UEIC. Victory Capital Management Inc. raised its stake in shares of Universal Electronics by 77.2% in the second quarter. Victory Capital Management Inc. now owns 1,469 shares of the technology company’s stock worth $106,000 after buying an additional 640 shares during the last quarter. Schroder Investment Management Group acquired a new stake in shares of Universal Electronics during the third quarter worth about $108,000. State of Alaska Department of Revenue raised its stake in shares of Universal Electronics by 1.3% in the first quarter. State of Alaska Department of Revenue now owns 1,590 shares of the technology company’s stock worth $108,000 after buying an additional 20 shares during the last quarter. PineBridge Investments L.P. raised its stake in shares of Universal Electronics by 3.3% in the second quarter. PineBridge Investments L.P. now owns 1,830 shares of the technology company’s stock worth $132,000 after buying an additional 59 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its stake in shares of Universal Electronics by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 2,033 shares of the technology company’s stock worth $147,000 after buying an additional 248 shares during the last quarter. 93.06% of the stock is currently owned by hedge funds and other institutional investors.
Universal Electronics Company Profile
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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