Louis Sylvester Hughes Sells 925 Shares of Universal Electronics Inc. (UEIC) Stock

Universal Electronics Inc. (NASDAQ:UEIC) COO Louis Sylvester Hughes sold 925 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $53.58, for a total transaction of $49,561.50. Following the completion of the transaction, the chief operating officer now directly owns 1,502 shares of the company’s stock, valued at approximately $80,477.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Universal Electronics Inc. (NASDAQ UEIC) opened at $50.55 on Wednesday. The stock has a market cap of $732.45, a price-to-earnings ratio of 23.70, a PEG ratio of 1.62 and a beta of 1.52. Universal Electronics Inc. has a 52 week low of $48.50 and a 52 week high of $74.85. 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 (NASDAQ:UEIC) last released its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.81 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.04). The business had revenue of $175.51 million for the quarter, compared to the consensus estimate of $182.53 million. Universal Electronics had a net margin of 1.45% and a return on equity of 11.27%. Universal Electronics’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.93 EPS. sell-side analysts forecast that Universal Electronics Inc. will post 2.11 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in UEIC. Suntrust Banks Inc. increased its position in shares of Universal Electronics by 0.5% during the second quarter. Suntrust Banks Inc. now owns 7,891 shares of the technology company’s stock worth $527,000 after buying an additional 43 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Universal Electronics by 1.8% during the second quarter. PNC Financial Services Group Inc. now owns 4,144 shares of the technology company’s stock worth $278,000 after buying an additional 75 shares during the period. Texas Permanent School Fund increased its position in shares of Universal Electronics by 0.8% during the second quarter. Texas Permanent School Fund now owns 10,567 shares of the technology company’s stock worth $706,000 after buying an additional 88 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Universal Electronics by 0.8% during the second quarter. The Manufacturers Life Insurance Company now owns 11,082 shares of the technology company’s stock worth $741,000 after buying an additional 91 shares during the period. Finally, TIAA CREF Investment Management LLC increased its position in shares of Universal Electronics by 0.5% during the second quarter. TIAA CREF Investment Management LLC now owns 38,098 shares of the technology company’s stock worth $2,547,000 after buying an additional 188 shares during the period. 96.69% of the stock is owned by hedge funds and other institutional investors.

UEIC has been the subject of several research reports. B. Riley reissued a “buy” rating and issued a $77.25 price objective on shares of Universal Electronics in a research note on Thursday, August 10th. BidaskClub downgraded shares of Universal Electronics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. ValuEngine raised shares of Universal Electronics from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Zacks Investment Research raised shares of Universal Electronics from a “hold” rating to a “strong-buy” rating and set a $73.00 price objective for the company in a research note on Tuesday, October 3rd. Finally, Piper Jaffray Companies dropped their price objective on shares of Universal Electronics to $70.00 and set an “overweight” rating for the company in a research note on Friday, November 3rd. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Universal Electronics currently has a consensus rating of “Hold” and a consensus target price of $72.75.

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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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