Universal Electronics Inc. (UEIC) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Universal Electronics Inc. (NASDAQ:UEIC) have received an average recommendation of “Buy” from the seven analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $77.81.

Several brokerages have recently commented on UEIC. B. Riley reissued a “buy” rating and issued a $77.25 target price on shares of Universal Electronics in a report on Friday, May 5th. Piper Jaffray Companies reissued a “buy” rating and issued a $77.00 target price on shares of Universal Electronics in a report on Monday, May 15th. Zacks Investment Research downgraded Universal Electronics from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 24th. Lake Street Capital downgraded Universal Electronics from a “buy” rating to a “hold” rating and set a $71.00 target price on the stock. in a report on Friday, May 5th. Finally, TheStreet raised Universal Electronics from a “c+” rating to a “b-” rating in a report on Thursday, March 16th.

Shares of Universal Electronics (UEIC) traded down 0.60% during mid-day trading on Tuesday, reaching $66.80. The company’s stock had a trading volume of 1,353 shares. 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 $964.06 million, a P/E ratio of 55.67 and a beta of 1.60. The company has a 50 day moving average of $65.34 and a 200-day moving average of $66.15.

Universal Electronics (NASDAQ:UEIC) last released its quarterly earnings data on Thursday, May 4th. The technology company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.02. The company had revenue of $162.30 million for the quarter, compared to analyst estimates of $158.77 million. Universal Electronics had a return on equity of 14.40% and a net margin of 2.68%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.50 EPS. Equities research analysts forecast that Universal Electronics will post $3.35 EPS for the current year.

In other news, Director Edward K. Zinser sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 20th. The stock was sold at an average price of $70.00, for a total value of $700,000.00. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $1,400,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.82% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue increased its position in 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 valued at $108,000 after buying an additional 20 shares in the last quarter. Victory Capital Management Inc. increased its position in Universal Electronics by 23.8% in the first 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. increased its position in Universal Electronics by 7.7% in the first 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. Mason Street Advisors LLC increased its position in Universal Electronics by 6.3% in the first 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. Finally, Invictus RG purchased a new position in Universal Electronics during the first quarter valued at about $236,000. 93.06% of the stock is currently owned by institutional investors and hedge funds.

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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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:UEIC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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