Universal Electronics Inc. (UEIC) Given Consensus Rating of “Buy” by Brokerages
Universal Electronics Inc. (NASDAQ:UEIC) has been given an average rating of “Buy” by the seven analysts that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $75.08.
A number of analysts have issued reports on UEIC shares. B. Riley reiterated a “buy” rating and issued a $77.25 target price on shares of Universal Electronics in a research note on Friday, May 5th. Zacks Investment Research upgraded shares of Universal Electronics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 5th. BidaskClub upgraded shares of Universal Electronics from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $77.00 target price on shares of Universal Electronics in a research note on Monday, May 15th.
Shares of Universal Electronics (UEIC) traded up 0.60% during trading on Monday, reaching $67.25. 18,062 shares of the company traded hands. Universal Electronics has a 12 month low of $52.90 and a 12 month high of $80.42. The firm has a market capitalization of $970.55 million, a PE ratio of 56.04 and a beta of 1.65. The firm has a 50-day moving average price of $65.32 and a 200-day moving average price of $66.19.
Universal Electronics (NASDAQ:UEIC) last posted its quarterly earnings results on Thursday, May 4th. The technology company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.63 by $0.02. The business had revenue of $162.30 million during the quarter, compared to analysts’ expectations of $158.77 million. Universal Electronics had a net margin of 2.68% and a return on equity of 14.40%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company posted $0.50 earnings per share. Equities research analysts anticipate that Universal Electronics will post $3.35 EPS for the current year.
In other news, Director Edward K. Zinser sold 10,000 shares of Universal Electronics stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $72.00, for a total value of $720,000.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at $1,440,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 5.82% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. purchased a new position in Universal Electronics during the fourth quarter worth approximately $1,856,000. Wells Fargo & Company MN raised its position in Universal Electronics by 32.8% in the first quarter. Wells Fargo & Company MN now owns 173,427 shares of the technology company’s stock worth $11,880,000 after buying an additional 42,878 shares in the last quarter. Comerica Bank raised its position in Universal Electronics by 6.1% in the fourth quarter. Comerica Bank now owns 15,556 shares of the technology company’s stock worth $1,041,000 after buying an additional 897 shares in the last quarter. Ameriprise Financial Inc. raised its position in Universal Electronics by 13.4% in the first quarter. Ameriprise Financial Inc. now owns 95,130 shares of the technology company’s stock worth $6,516,000 after buying an additional 11,210 shares in the last quarter. Finally, Guggenheim Capital LLC purchased a new position in Universal Electronics during the fourth quarter worth approximately $1,061,000. 92.86% of the stock is currently owned by institutional investors.
About Universal Electronics
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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