Universal Electronics (NASDAQ:UEIC – Get Rating) issued an update on its second quarter 2022 earnings guidance on Monday morning. The company provided earnings per share guidance of $0.53-$0.63 for the period, compared to the consensus earnings per share estimate of $0.63. The company issued revenue guidance of $133.00 million-$143.00 million, compared to the consensus revenue estimate of $146.95 million.
Shares of UEIC traded up $0.41 during trading hours on Monday, reaching $27.58. 1,852 shares of the company’s stock traded hands, compared to its average volume of 55,746. The firm’s 50 day simple moving average is $30.59 and its 200-day simple moving average is $34.99. Universal Electronics has a 12 month low of $26.09 and a 12 month high of $53.07.
Universal Electronics (NASDAQ:UEIC – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The technology company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.15). The company had revenue of $132.41 million during the quarter, compared to analysts’ expectations of $135.06 million. Universal Electronics had a negative return on equity of 1.60% and a negative net margin of 0.79%. As a group, analysts predict that Universal Electronics will post 0.76 earnings per share for the current year.
In related news, Director William C. Mulligan bought 6,500 shares of the company’s stock in a transaction on Tuesday, February 22nd. The shares were acquired at an average cost of $31.84 per share, with a total value of $206,960.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 7.80% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in UEIC. Invesco Ltd. lifted its holdings in shares of Universal Electronics by 14.9% during the first quarter. Invesco Ltd. now owns 87,073 shares of the technology company’s stock valued at $2,720,000 after purchasing an additional 11,282 shares in the last quarter. Renaissance Technologies LLC increased its position in Universal Electronics by 4.2% during the first quarter. Renaissance Technologies LLC now owns 39,800 shares of the technology company’s stock valued at $1,243,000 after acquiring an additional 1,600 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Universal Electronics by 13.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 181,866 shares of the technology company’s stock valued at $5,682,000 after acquiring an additional 21,833 shares during the last quarter. Vanguard Group Inc. increased its position in Universal Electronics by 2.3% during the first quarter. Vanguard Group Inc. now owns 846,003 shares of the technology company’s stock valued at $26,430,000 after acquiring an additional 19,281 shares during the last quarter. Finally, Synovus Financial Corp increased its position in Universal Electronics by 7.2% during the first quarter. Synovus Financial Corp now owns 13,197 shares of the technology company’s stock valued at $407,000 after acquiring an additional 882 shares during the last quarter. 87.74% of the stock is currently owned by institutional investors and hedge funds.
About Universal Electronics (Get Rating)
Universal Electronics Inc designs, develops, manufactures, and sells pre-programmed and universal control products, audio-video (AV) accessories, and intelligent wireless security and smart home products for video services, consumer electronics, security, home automation, climate control, and home appliance markets.
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