Universal Electronics (NASDAQ:UEIC) Releases Q2 2022 Earnings Guidance

Universal Electronics (NASDAQ:UEICGet Rating) updated its second quarter 2022 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $0.53-$0.63 for the period, compared to the consensus 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.

Several brokerages recently issued reports on UEIC. B. Riley cut their price objective on Universal Electronics from $62.00 to $53.00 in a report on Friday, February 18th. TheStreet lowered Universal Electronics from a c rating to a d+ rating in a report on Thursday, May 5th. StockNews.com upgraded Universal Electronics from a hold rating to a buy rating in a report on Friday. Finally, Zacks Investment Research downgraded shares of Universal Electronics from a hold rating to a strong sell rating in a research report on Wednesday, May 18th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Universal Electronics presently has an average rating of Buy and an average price target of $64.33.

Shares of NASDAQ:UEIC opened at $26.52 on Monday. The company has a market cap of $334.95 million, a P/E ratio of -68.00 and a beta of 1.10. The stock’s 50-day moving average is $30.09 and its 200-day moving average is $34.44. Universal Electronics has a 52-week low of $26.00 and a 52-week high of $53.07.

Universal Electronics (NASDAQ:UEICGet Rating) last released its earnings results on Thursday, May 5th. The technology company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.15). Universal Electronics had a negative return on equity of 1.60% and a negative net margin of 0.79%. The firm had revenue of $132.41 million for the quarter, compared to analyst estimates of $135.06 million. Research analysts predict that Universal Electronics will post 0.51 EPS for the current fiscal year.

In other Universal Electronics news, Director William C. Mulligan purchased 6,500 shares of the business’s stock in a transaction on Tuesday, February 22nd. The stock was purchased at an average price of $31.84 per share, for a total transaction of $206,960.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.09% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its stake in shares of Universal Electronics by 1.1% in the fourth quarter. BlackRock Inc. now owns 2,124,309 shares of the technology company’s stock valued at $86,565,000 after acquiring an additional 23,762 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Universal Electronics by 2.3% in the first quarter. Vanguard Group Inc. now owns 846,003 shares of the technology company’s stock valued at $26,430,000 after purchasing an additional 19,281 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Universal Electronics by 10.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 540,053 shares of the technology company’s stock valued at $22,008,000 after purchasing an additional 50,290 shares in the last quarter. State Street Corp increased its holdings in shares of Universal Electronics by 1.6% in the first quarter. State Street Corp now owns 520,369 shares of the technology company’s stock valued at $16,256,000 after purchasing an additional 8,045 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Universal Electronics by 13.6% in 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 purchasing an additional 21,833 shares in the last quarter. Hedge funds and other institutional investors own 87.74% of the company’s stock.

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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