Eagle Asset Management Inc
recently stated that they own 17.7% of Universal Electronics Inc (NASDAQ:UEIC) in a Form 13G/A disclosure that was filed with the SEC on Monday, January 8th. The investor owns 2,530,362 shares of the stock valued at approximately $125,632,473. The disclosure is available through EDGAR at this link.
Shares of Universal Electronics Inc (NASDAQ:UEIC) traded up $1.35 during trading on Monday, reaching $49.65. The company’s stock had a trading volume of 68,500 shares, compared to its average volume of 71,550. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.80 and a current ratio of 1.34. Universal Electronics Inc has a 52-week low of $46.05 and a 52-week high of $74.85. The firm has a market cap of $703.49, a P/E ratio of 75.23, a P/E/G ratio of 0.88 and a beta of 1.53.
Universal Electronics (NASDAQ:UEIC) last issued its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.81 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.04). Universal Electronics had a return on equity of 11.27% and a net margin of 1.45%. The business had revenue of $175.51 million for the quarter, compared to analyst estimates of $182.53 million. During the same quarter in the previous year, the business posted $0.93 earnings per share. The business’s revenue was up 3.0% on a year-over-year basis. analysts forecast that Universal Electronics Inc will post 2.28 earnings per share for the current fiscal year.
Several research analysts recently issued reports on UEIC shares. Zacks Investment Research raised Universal Electronics from a “hold” rating to a “strong-buy” rating and set a $73.00 target price for the company in a research report on Tuesday, October 3rd. B. Riley set a $77.00 target price on Universal Electronics and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Piper Jaffray Companies decreased their price target on Universal Electronics to $70.00 and set an “overweight” rating for the company in a report on Friday, November 3rd. Finally, BidaskClub downgraded Universal Electronics from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $72.75.
In other news, insider David Cheung Hyen Chong sold 11,550 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $50.31, for a total value of $581,080.50. Following the completion of the sale, the insider now directly owns 31,657 shares in the company, valued at approximately $1,592,663.67. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director J C. Sparkman bought 2,000 shares of Universal Electronics stock in a transaction dated Friday, December 15th. The stock was purchased at an average price of $47.50 per share, with a total value of $95,000.00. Following the completion of the purchase, the director now owns 41,871 shares in the company, valued at $1,988,872.50. The disclosure for this purchase can be found here. Company insiders own 5.94% of the company’s stock.
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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.
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