Universal Electronics Inc (NASDAQ:UEIC) Director Edward K. Zinser sold 10,000 shares of the company’s stock in a transaction dated Thursday, April 20th. The stock was sold at an average price of $70.00, for a total transaction of $700,000.00. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at $1,400,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Universal Electronics Inc (NASDAQ:UEIC) traded down 0.64% on Friday, reaching $69.50. 47,833 shares of the company’s stock traded hands. The firm has a market capitalization of $1.00 billion, a P/E ratio of 50.36 and a beta of 1.78. Universal Electronics Inc has a 52 week low of $52.90 and a 52 week high of $80.42. The firm’s 50 day moving average is $67.30 and its 200 day moving average is $67.05.
Universal Electronics (NASDAQ:UEIC) last announced its quarterly earnings results on Thursday, February 16th. The technology company reported $0.70 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.70. The firm earned $160.10 million during the quarter, compared to the consensus estimate of $164.41 million. Universal Electronics had a return on equity of 16.85% and a net margin of 4.05%. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.91 earnings per share. Analysts expect that Universal Electronics Inc will post $3.58 earnings per share for the current fiscal year.
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A number of research analysts have recently commented on UEIC shares. Zacks Investment Research cut shares of Universal Electronics from a “buy” rating to a “hold” rating in a report on Thursday. B. Riley restated a “buy” rating and issued a $77.25 price target on shares of Universal Electronics in a report on Wednesday, March 22nd. TheStreet upgraded shares of Universal Electronics from a “c+” rating to a “b-” rating in a report on Thursday, March 16th. Finally, Lake Street Capital dropped their target price on shares of Universal Electronics from $78.00 to $71.00 and set a “buy” rating on the stock in a report on Friday, February 17th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Universal Electronics currently has an average rating of “Buy” and an average price target of $76.31.
A number of institutional investors have recently made changes to their positions in UEIC. Rothschild Asset Management Inc. increased its position in shares of Universal Electronics by 15.8% in the third quarter. Rothschild Asset Management Inc. now owns 6,299 shares of the technology company’s stock worth $469,000 after buying an additional 859 shares during the period. Capital Management Associates NY increased its position in shares of Universal Electronics by 16.7% in the third quarter. Capital Management Associates NY now owns 7,000 shares of the technology company’s stock worth $521,000 after buying an additional 1,000 shares during the period. Wellington Shields & Co. LLC increased its position in shares of Universal Electronics by 18.4% in the third quarter. Wellington Shields & Co. LLC now owns 359,455 shares of the technology company’s stock worth $26,765,000 after buying an additional 55,888 shares during the period. First Trust Advisors LP increased its position in shares of Universal Electronics by 8.1% in the third quarter. First Trust Advisors LP now owns 14,330 shares of the technology company’s stock worth $1,067,000 after buying an additional 1,077 shares during the period. Finally, Aperio Group LLC increased its position in shares of Universal Electronics by 6.3% in the third quarter. Aperio Group LLC now owns 6,545 shares of the technology company’s stock worth $487,000 after buying an additional 387 shares during the period. 90.71% of the stock is owned by hedge funds and other 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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Universal Electronics Inc (UEIC) Director Edward K. Zinser Sells 10,000 Shares by: Steve Melvin published: