William C. Mulligan Acquires 5,000 Shares of Universal Electronics Inc. (UEIC) Stock
Universal Electronics Inc. (NASDAQ:UEIC) Director William C. Mulligan acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was purchased at an average price of $55.91 per share, for a total transaction of $279,550.00. Following the completion of the acquisition, the director now owns 17,966 shares in the company, valued at $1,004,479.06. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.
Universal Electronics Inc. (NASDAQ:UEIC) opened at 56.80 on Friday. The stock has a market capitalization of $817.98 million, a P/E ratio of 52.54 and a beta of 1.65. Universal Electronics Inc. has a 12-month low of $52.90 and a 12-month high of $78.33. The stock has a 50 day moving average price of $63.84 and a 200-day moving average price of $65.96.
Universal Electronics (NASDAQ:UEIC) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.78 EPS for the quarter, hitting analysts’ consensus estimates of $0.78. Universal Electronics had a return on equity of 11.97% and a net margin of 2.37%. The business had revenue of $177.58 million during the quarter, compared to analysts’ expectations of $176.12 million. During the same quarter last year, the company posted $0.74 earnings per share. Universal Electronics’s quarterly revenue was up 3.9% on a year-over-year basis. Equities research analysts expect that Universal Electronics Inc. will post $3.14 EPS for the current year.
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Institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue boosted 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 worth $108,000 after buying an additional 20 shares during the last quarter. Victory Capital Management Inc. boosted 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 worth $114,000 after buying an additional 321 shares during the last quarter. First Mercantile Trust Co. boosted 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 worth $175,000 after buying an additional 183 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new position in Universal Electronics during the second quarter worth approximately $209,000. Finally, Mason Street Advisors LLC boosted 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 worth $232,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 94.57% of the company’s stock.
UEIC has been the topic of a number of research reports. Zacks Investment Research upgraded Universal Electronics from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 5th. BidaskClub upgraded Universal Electronics from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. B. Riley restated a “buy” rating and issued a $77.25 price objective on shares of Universal Electronics in a report on Monday, July 31st. Lake Street Capital downgraded Universal Electronics from a “buy” rating to a “hold” rating and set a $71.00 price objective on the stock. in a report on Friday, May 5th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $77.00 price objective on shares of Universal Electronics in a report on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $74.06.
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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