Universal Electronics Inc. (UEIC) Given a $77.00 Price Target at B. Riley

B. Riley set a $77.00 target price on Universal Electronics Inc. (NASDAQ:UEIC) in a research report sent to investors on Tuesday morning. The firm currently has a buy rating on the technology company’s stock.

Other equities analysts have also issued research reports about the stock. BidaskClub raised shares of Universal Electronics from a hold rating to a buy rating in a report on Thursday, July 6th. Zacks Investment Research lowered shares of Universal Electronics from a strong-buy rating to a hold rating in a report on Thursday, October 5th. Finally, ValuEngine raised shares of Universal Electronics from a sell rating to a hold rating in a report on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Universal Electronics has a consensus rating of Hold and a consensus price target of $74.50.

Shares of Universal Electronics (NASDAQ:UEIC) traded up 2.08% during mid-day trading on Tuesday, reaching $61.25. 43,595 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $62.72 and a 200 day moving average price of $64.10. Universal Electronics has a 52-week low of $52.90 and a 52-week high of $74.85. The firm has a market cap of $882.06 million, a P/E ratio of 56.66 and a beta of 1.62.

Universal Electronics (NASDAQ:UEIC) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.78 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.78. The firm had revenue of $177.58 million for the quarter, compared to analyst estimates of $176.12 million. Universal Electronics had a net margin of 2.37% and a return on equity of 11.97%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.74 EPS. Analysts forecast that Universal Electronics will post $3.14 earnings per share for the current fiscal year.

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In other Universal Electronics news, Director William C. Mulligan acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was bought at an average price of $55.91 per share, with a total value of $279,550.00. Following the purchase, the director now owns 17,966 shares of the company’s stock, valued at $1,004,479.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory Stapleton sold 10,000 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $60.31, for a total transaction of $603,100.00. Following the completion of the sale, the director now directly owns 35,726 shares of the company’s stock, 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 corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Suntrust Banks Inc. boosted its stake 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 stake 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 stake 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 stake 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 stake 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. 95.23% of the stock is 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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