B. Riley set a $53.00 target price on Universal Electronics (NASDAQ:UEIC) in a research note released on Friday morning, TipRanks reports. The brokerage currently has a buy rating on the technology company’s stock.
Several other analysts have also issued reports on UEIC. Zacks Investment Research upgraded shares of Universal Electronics from a strong sell rating to a hold rating in a report on Friday, January 11th. BidaskClub upgraded shares of Universal Electronics from a sell rating to a hold rating in a report on Saturday, January 12th. ValuEngine lowered shares of Universal Electronics from a sell rating to a strong sell rating in a report on Wednesday, February 13th. Finally, Sidoti set a $49.00 price objective on shares of Universal Electronics and gave the company a buy rating in a report on Friday, February 22nd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $45.00.
Shares of UEIC opened at $45.33 on Friday. The stock has a market capitalization of $601.62 million, a P/E ratio of 53.33, a P/E/G ratio of 2.41 and a beta of 1.58. Universal Electronics has a 12-month low of $23.29 and a 12-month high of $47.65. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.84 and a current ratio of 1.36.
Universal Electronics (NASDAQ:UEIC) last issued its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.09. The firm had revenue of $184.16 million for the quarter, compared to analyst estimates of $180.69 million. Universal Electronics had a net margin of 1.64% and a return on equity of 4.25%. Analysts expect that Universal Electronics will post 1.2 earnings per share for the current year.
In other Universal Electronics news, insider David Cheung Hyen Chong sold 2,000 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $31.88, for a total transaction of $63,760.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Richard A. Firehammer, Jr. sold 1,011 shares of the business’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $33.61, for a total transaction of $33,979.71. The disclosure for this sale can be found here. 5.97% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the business. Municipal Employees Retirement System of Michigan purchased a new stake in shares of Universal Electronics during the fourth quarter worth approximately $101,000. Metropolitan Life Insurance Co. NY increased its stake in shares of Universal Electronics by 363.5% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,561 shares of the technology company’s stock worth $115,000 after buying an additional 3,577 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Universal Electronics by 141.2% during the first quarter. BNP Paribas Arbitrage SA now owns 3,514 shares of the technology company’s stock worth $131,000 after buying an additional 2,057 shares during the period. Oregon Public Employees Retirement Fund purchased a new stake in shares of Universal Electronics during the fourth quarter worth approximately $133,000. Finally, Van Hulzen Asset Management LLC purchased a new stake in shares of Universal Electronics during the first quarter worth approximately $222,000.
Universal Electronics Company Profile
Universal Electronics Inc develops and manufactures pre-programmed and universal control products, audio-video (AV) accessories, software and intelligent wireless security products, and sensing and automation components for home entertainment and automation systems. The company offers universal infrared and radio frequency (RF) remote controls; integrated circuits on which its software and universal device control database is embedded; and software, firmware, and technology solutions that enable devices, including televisions, set-top boxes, audio systems, smartphones, tablets, game controllers, and other consumer electronic devices to wirelessly connect and interact with home networks, as well as interactive services to control and deliver digital entertainment and information.
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