Universal Electronics Inc. (NASDAQ:UEIC) had its price target decreased by analysts at Piper Jaffray Companies to $70.00 in a research report issued on Friday, The Fly reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Piper Jaffray Companies’ target price suggests a potential upside of 15.23% from the company’s current price.

A number of other brokerages have also weighed in on UEIC. B. Riley reiterated a “buy” rating and set a $77.25 target price on shares of Universal Electronics in a research note on Thursday, August 10th. BidaskClub lowered Universal Electronics from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Zacks Investment Research upgraded Universal Electronics from a “hold” rating to a “strong-buy” rating and set a $73.00 target price on the stock in a research note on Tuesday, October 3rd. Finally, ValuEngine upgraded Universal Electronics from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $72.75.

Universal Electronics (NASDAQ:UEIC) last released its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.81 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.04). Universal Electronics had a net margin of 2.37% and a return on equity of 11.97%. The business had revenue of $175.51 million during the quarter, compared to analyst estimates of $182.53 million. During the same period in the previous year, the business earned $0.93 earnings per share. The business’s quarterly revenue was up 3.0% on a year-over-year basis.

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In related news, Director William C. Mulligan acquired 5,000 shares of the stock in a transaction on Wednesday, August 23rd. The shares were purchased at an average price of $55.91 per share, for a total transaction of $279,550.00. Following the purchase, the director now directly owns 17,966 shares in the company, valued at $1,004,479.06. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gregory Stapleton sold 10,000 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $60.31, for a total value of $603,100.00. Following the transaction, the director now owns 35,726 shares in the company, valued at approximately $2,154,635.06. The disclosure for this sale can be found here. 5.82% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of UEIC. Suntrust Banks Inc. boosted its holdings in shares of Universal Electronics by 0.5% in the 2nd quarter. Suntrust Banks Inc. now owns 7,891 shares of the technology company’s stock valued at $527,000 after purchasing an additional 43 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Universal Electronics by 1.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,069 shares of the technology company’s stock valued at $279,000 after purchasing an additional 69 shares in the last quarter. Texas Permanent School Fund boosted its holdings in shares of Universal Electronics by 0.8% in the 2nd quarter. Texas Permanent School Fund now owns 10,567 shares of the technology company’s stock valued at $706,000 after purchasing an additional 88 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Universal Electronics by 0.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,082 shares of the technology company’s stock valued at $741,000 after purchasing an additional 91 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its holdings in shares of Universal Electronics by 0.5% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 38,098 shares of the technology company’s stock valued at $2,547,000 after purchasing an additional 188 shares in the last quarter. Hedge funds and other institutional investors own 95.23% of the company’s stock.

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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