Item 5. Market for Registrant’s Common Equity
ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Our common stock trades on the NASDAQ Global Select Market under the symbol UEIC. Our stockholders of record on March 3, 2023 numbered 166. We have never paid cash dividends on our common stock. We intend to retain our earnings, if any, to reinvest in the business for future operations and expansion and, as such, we do not anticipate paying any cash dividends in the foreseeable future.
Purchases of Equity Securities
The following table sets forth, for the fourth quarter, our total stock repurchases, average price paid per share and the maximum number of shares that may yet be purchased on the open market under our plans or programs:
Period Total Number of Shares Purchased (1)
Weighted
Average
Price Paid
per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs
October 1, 2022 - October 31, 2022 — $ — — —
November 1, 2022 - November 30, 2022 3,057 21.90 — —
December 1, 2022- December 31, 2022 73,015 22.90 — —
Total 76,072 $ 22.86 —
(1) Of the repurchases in November and December, 3,057 and 73,015 shares, respectively, represent common shares of the Company that were owned and tendered by employees to satisfy option cost and tax withholding obligations in connection with stock option exercises and the vesting of restricted shares.
Performance Chart
The following graph and table compares the cumulative total stockholder return with respect to our common stock versus the cumulative total return of the Standard & Poor's Small Cap 600 (the "S&P Small Cap 600"), the NASDAQ Composite Index, and the Peer Group Indices for the five-year period ended December 31, 2022. We amended our peer group during 2022 to more accurately reflect the current overall business of the Company. The comparison assumes that $100 was invested on December 31, 2017 in each of our common stock, S&P Small Cap 600, the NASDAQ Composite Index, and the Peer Group Indices and that all dividends were reinvested. We have not paid any dividends and, therefore, our cumulative total return calculation is based solely upon stock price appreciation and not upon reinvestment of dividends. The graph and table depicts year-end values based on actual market value increases and decreases relative to the initial investment of $100, based on information provided for each calendar year by the NASDAQ Stock Market, the New York Stock Exchange, the Hong Kong Stock Exchange and the Korea Exchange.
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The comparisons in the graph and table below are based on historical data and are not intended to forecast the possible future performance of our common stock.
12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022
Universal Electronics Inc. $ 100 $ 54 $ 111 $ 111 $ 86 $ 44
S&P Small Cap 600 $ 100 $ 90 $ 109 $ 120 $ 150 $ 124
NASDAQ Composite Index $ 100 $ 96 $ 130 $ 187 $ 227 $ 152
Peer Group - Legacy Index (1)
$ 100 $ 96 $ 117 $ 195 $ 181 $ 134
Peer Group - Updated Index (2)(3)
$ 100 $ 82 $ 120 $ 173 $ 171 $ 112
(1) Companies in the legacy Peer Group Index are as follows: Dolby Laboratories, Inc.; Logitech International S.A.; VOXX International Corp.; and Xperi Corporation (formerly TiVo Corporation).
(2) Companies in the updated Peer Group Index are as follows: Arlo Technologies, Inc.; Charter Communications, Inc.; Comcast Corporation; CommScope Holding Company, Inc.; Computime Group Limited; Dish Network Corporation; Home Control International Limited; LG Display Co., Ltd.; Liberty Global PLC; Logitech International S.A.; Samsung Electronics Co. Ltd.; Sony Group Corporation; and Turtle Beach Corporation.
(3) Cumulative stockholder return data for Arlo Technologies, Inc. and Home Control Limited was not included in the updated Peer Group Index calculations, as these companies were not public until after the December 31, 2017 base period.
The information presented above is as of December 31, 2017 through December 31, 2022. This information should not be deemed to be "soliciting material" or to be "filed" with the SEC or subject to the liabilities of Section 18 of the Exchange Act nor should this information be incorporated by reference into any prior or future filings under the Exchange Act, except to the extent that we specifically incorporate it by reference into a filing.
ITEM 6. [RESERVED]
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