Universal Electronics Inc. (UEIC) Given Consensus Recommendation of “Hold” by Brokerages
Universal Electronics Inc. (NASDAQ:UEIC) has earned a consensus rating of “Hold” from the seven research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $75.08.
A number of brokerages have recently weighed in on UEIC. ValuEngine upgraded shares of Universal Electronics from a “sell” rating to a “hold” rating in a report on Tuesday, August 22nd. BidaskClub lowered shares of Universal Electronics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. B. Riley restated a “buy” rating and set a $77.25 price objective on shares of Universal Electronics in a report on Thursday, August 10th. Zacks Investment Research upgraded shares of Universal Electronics from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 5th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $77.00 price objective on shares of Universal Electronics in a report on Monday, May 15th.
Shares of Universal Electronics (NASDAQ UEIC) traded down 1.12% during mid-day trading on Tuesday, hitting $57.15. The stock had a trading volume of 14,086 shares. Universal Electronics has a 52-week low of $52.90 and a 52-week high of $77.97. The stock has a 50 day moving average price of $62.38 and a 200-day moving average price of $65.76. The company has a market cap of $823.02 million, a PE ratio of 52.87 and a beta of 1.64.
Universal Electronics (NASDAQ:UEIC) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.78 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.78. Universal Electronics had a net margin of 2.37% and a return on equity of 11.97%. The firm had revenue of $177.58 million for the quarter, compared to analysts’ expectations of $176.12 million. During the same period last year, the firm earned $0.74 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, equities analysts expect that Universal Electronics will post $3.14 earnings per share for the current fiscal year.
In related news, Director William C. Mulligan bought 5,000 shares of Universal Electronics stock in a transaction that occurred on Wednesday, August 23rd. The stock was acquired at an average price of $55.91 per share, with a total value of $279,550.00. Following the acquisition, the director now owns 17,966 shares of the company’s stock, valued at approximately $1,004,479.06. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.82% of the company’s stock.
Large investors have recently modified their holdings of the company. State of Alaska Department of Revenue raised its position in shares of Universal Electronics by 1.3% in the 1st quarter. State of Alaska Department of Revenue now owns 1,590 shares of the technology company’s stock valued at $108,000 after buying an additional 20 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Universal Electronics by 23.8% in the 1st quarter. Victory Capital Management Inc. now owns 1,667 shares of the technology company’s stock valued at $114,000 after buying an additional 321 shares in the last quarter. First Mercantile Trust Co. raised its position in shares of Universal Electronics by 7.7% in the 1st quarter. First Mercantile Trust Co. now owns 2,556 shares of the technology company’s stock valued at $175,000 after buying an additional 183 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new position in shares of Universal Electronics in the 2nd quarter valued at approximately $209,000. Finally, Mason Street Advisors LLC raised its position in shares of Universal Electronics by 6.3% in the 1st quarter. Mason Street Advisors LLC now owns 3,384 shares of the technology company’s stock valued at $232,000 after buying an additional 200 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.
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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