Universal Electronics Inc (UEIC) was Reiterated by Dougherty & Company to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 86 from a previous price target of $70 . Dougherty & Company advised their investors in a research report released on Jul 15, 2016.
On the company’s financial health, Universal Electronics Inc reported $0.50 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on May 5, 2016. Analyst had a consensus of $0.54. The company had revenue of $151.50 million for the quarter, compared to analysts expectations of $156.85 million. The company’s revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 EPS.
Universal Electronics Inc closed down -1.35 points or -1.80% at $73.59 with 1,15,284 shares getting traded on Wednesday. Post opening the session at $75.11, the shares hit an intraday low of $73.393 and an intraday high of $76.15 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Jun 15, 2016, Edward K Zinser (director) sold 2,600 shares at $66.88 per share price. According to the SEC, on Jun 8, 2016, Paul J Bennett (EVP) sold 13,100 shares at $66.50 per share price. On May 27, 2016, David Cheung Hyen Chong (Executive Vice President -Asia) sold 3,500 shares at $64.75 per share price, according to the Form-4 filing with the securities and exchange commission.
Universal Electronics Inc. (UEI) develops control technology solutions and manufactures a line of pre-programmed universal remote control products embedded hardware and software and audio-video (AV) accessories for home entertainment systems. The Company’s offerings include pre-programmed universal infrared (IR) and radio frequency (RF) remote controls; audio-video (AV) accessories; integrated circuits on which its software and universal device control database is embedded; software firmware and technology solutions that can enable devices such as TVs set-top boxes stereos smart phones tablets gaming controllers and other consumer electronic devices to wirelessly connect and interact with home networks and interactive services and intellectual property which the Company licenses to OEMs software development companies private label customers and subscription broadcasting providers.