Universal Electronics (UEIC) Upgraded by BidaskClub to “Sell”

BidaskClub upgraded shares of Universal Electronics (NASDAQ:UEIC) from a strong sell rating to a sell rating in a research note released on Tuesday morning.

A number of other brokerages have also commented on UEIC. Zacks Investment Research lowered Universal Electronics from a strong-buy rating to a hold rating in a report on Thursday, October 5th. Piper Jaffray Companies cut their price target on Universal Electronics to $70.00 and set an overweight rating on the stock in a report on Friday, November 3rd. Finally, B. Riley set a $77.00 price target on Universal Electronics and gave the company a buy rating in a report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $72.75.

Shares of Universal Electronics (NASDAQ:UEIC) traded down $0.40 during trading on Tuesday, hitting $47.85. The stock had a trading volume of 110,690 shares, compared to its average volume of 82,186. The company has a market capitalization of $683.10, a price-to-earnings ratio of 72.50, a price-to-earnings-growth ratio of 0.88 and a beta of 1.53. Universal Electronics has a 12 month low of $46.05 and a 12 month high of $74.85. The company has a current ratio of 1.34, a quick ratio of 0.80 and a debt-to-equity ratio of 0.05.

Universal Electronics (NASDAQ:UEIC) last issued its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The firm had revenue of $175.51 million during 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%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.93 earnings per share. analysts expect that Universal Electronics will post 2.28 earnings per share for the current fiscal year.

In related news, COO Louis Sylvester Hughes sold 925 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $53.58, for a total transaction of $49,561.50. Following the sale, the chief operating officer now owns 1,502 shares in the company, valued at $80,477.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director J C. Sparkman bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were bought at an average price of $47.50 per share, for a total transaction of $95,000.00. Following the acquisition, the director now directly owns 41,871 shares of the company’s stock, valued at approximately $1,988,872.50. The disclosure for this purchase can be found here. Corporate insiders own 5.94% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UEIC. Schwab Charles Investment Management Inc. raised its holdings in Universal Electronics by 19.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 67,864 shares of the technology company’s stock worth $4,537,000 after acquiring an additional 11,194 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Universal Electronics by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 182,793 shares of the technology company’s stock worth $12,220,000 after acquiring an additional 1,172 shares in the last quarter. Legal & General Group Plc raised its holdings in Universal Electronics by 9.4% during the second quarter. Legal & General Group Plc now owns 26,381 shares of the technology company’s stock worth $1,765,000 after acquiring an additional 2,259 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Universal Electronics by 45.0% during the second quarter. BNP Paribas Arbitrage SA now owns 5,436 shares of the technology company’s stock worth $363,000 after acquiring an additional 1,688 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Universal Electronics by 17.7% during the second quarter. Victory Capital Management Inc. now owns 1,962 shares of the technology company’s stock worth $131,000 after acquiring an additional 295 shares in the last quarter. Institutional investors and hedge funds own 96.66% of the company’s stock.

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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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