BidaskClub Upgrades Universal Electronics (UEIC) to Sell

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

Other equities research analysts have also recently issued research reports about the stock. B. Riley set a $77.00 price target on shares of Universal Electronics and gave the company a buy rating in a research report on Tuesday, October 31st. Zacks Investment Research cut shares of Universal Electronics from a strong-buy rating to a hold rating in a research report on Thursday, October 5th. Finally, Piper Jaffray Companies dropped their price target on shares of Universal Electronics to $70.00 and set an overweight rating for the company in a research report on Friday, November 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $72.75.

Shares of Universal Electronics (NASDAQ:UEIC) traded up $0.60 on Tuesday, reaching $48.45. 79,500 shares of the company’s stock traded hands, compared to its average volume of 81,850. The stock has a market cap of $683.10, a PE ratio of 73.41, a P/E/G ratio of 0.88 and a beta of 1.53. The company has a quick ratio of 0.80, a current ratio of 1.34 and a debt-to-equity ratio of 0.05. Universal Electronics has a fifty-two week low of $46.05 and a fifty-two week high of $74.85.

Universal Electronics (NASDAQ:UEIC) last announced its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.81 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.04). The firm had revenue of $175.51 million for the quarter, compared to analysts’ expectations of $182.53 million. Universal Electronics had a net margin of 1.45% and a return on equity of 11.27%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.93 EPS. analysts predict that Universal Electronics will post 2.28 earnings per share for the current fiscal year.

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

Several large investors have recently bought and sold shares of UEIC. Victory Capital Management Inc. increased its stake in shares of Universal Electronics by 17.7% in the 2nd 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. Piedmont Investment Advisors LLC bought a new stake in Universal Electronics during the 2nd quarter valued at about $209,000. PNC Financial Services Group Inc. increased its stake in Universal Electronics by 1.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,144 shares of the technology company’s stock valued at $278,000 after purchasing an additional 75 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in Universal Electronics during the 3rd quarter valued at about $291,000. Finally, Citadel Advisors LLC bought a new stake in Universal Electronics during the 2nd quarter valued at about $337,000. 96.66% of the stock is owned by hedge funds and other institutional investors.

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About Universal Electronics

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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