Universal Electronics Inc. (UEIC) PT Set at $77.00 by B. Riley

Universal Electronics Inc. (NASDAQ:UEIC) received a $77.00 price objective from research analysts at B. Riley in a report issued on Tuesday. The brokerage currently has a “buy” rating on the technology company’s stock. B. Riley’s target price would indicate a potential upside of 28.33% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Universal Electronics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 5th. ValuEngine upgraded shares of Universal Electronics from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd. Finally, BidaskClub cut shares of Universal Electronics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. 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. The company currently has a consensus rating of “Hold” and an average target price of $74.50.

Universal Electronics (NASDAQ:UEIC) last posted its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.78 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.78. The company had revenue of $177.58 million during the quarter, compared to analysts’ expectations of $176.12 million. Universal Electronics had a net margin of 2.37% and a return on equity of 11.97%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.74 earnings per share.

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In other news, Director Gregory Stapleton sold 10,000 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $60.31, for a total value of $603,100.00. Following the completion of the sale, the director now directly owns 35,726 shares in the company, valued at $2,154,635.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William C. Mulligan bought 5,000 shares of Universal Electronics stock in a transaction dated 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 completion of the transaction, the director now directly owns 17,966 shares of the company’s stock, valued at $1,004,479.06. The disclosure for this purchase can be found here. 5.82% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of UEIC. BlackRock Inc. raised its position in shares of Universal Electronics by 151,751.4% in the first quarter. BlackRock Inc. now owns 1,705,291 shares of the technology company’s stock valued at $116,813,000 after buying an additional 1,704,168 shares during the last quarter. William Blair Investment Management LLC raised its position in shares of Universal Electronics by 20.1% in the second quarter. William Blair Investment Management LLC now owns 1,599,417 shares of the technology company’s stock valued at $106,921,000 after buying an additional 267,722 shares during the last quarter. Northpointe Capital LLC acquired a new stake in shares of Universal Electronics in the second quarter valued at about $6,270,000. Kennedy Capital Management Inc. raised its position in shares of Universal Electronics by 23.8% in the second quarter. Kennedy Capital Management Inc. now owns 243,487 shares of the technology company’s stock valued at $16,277,000 after buying an additional 46,838 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Universal Electronics by 5.6% in the first quarter. Vanguard Group Inc. now owns 723,290 shares of the technology company’s stock valued at $49,546,000 after buying an additional 38,395 shares during the last quarter. Institutional investors and hedge funds 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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