Universal Electronics (UEIC) Downgraded by BidaskClub to “Strong Sell”

Universal Electronics (NASDAQ:UEIC) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Friday.

Other research analysts also recently issued reports about the company. B. Riley set a $77.00 price target on Universal Electronics and gave the stock a “buy” rating in a research note on Tuesday, October 31st. Zacks Investment Research upgraded Universal Electronics from a “sell” rating to a “hold” rating in a research note on Saturday, January 6th. Finally, Piper Jaffray Companies dropped their price target on Universal Electronics to $70.00 and set an “overweight” rating for the company in a research note on Friday, November 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $72.75.

Universal Electronics (NASDAQ UEIC) traded up $0.80 during trading on Friday, reaching $46.30. 113,560 shares of the company traded hands, compared to its average volume of 79,466. The stock has a market cap of $662.37, a price-to-earnings ratio of 21.44, a price-to-earnings-growth ratio of 0.82 and a beta of 1.53. Universal Electronics has a one year low of $44.25 and a one year high of $74.85. 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 (NASDAQ:UEIC) last released its earnings results on Thursday, November 2nd. The technology company reported $0.81 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.04). The firm had revenue of $175.51 million during the quarter, compared to analysts’ expectations of $182.53 million. Universal Electronics had a return on equity of 11.27% and a net margin of 1.45%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.93 earnings per share. analysts predict that Universal Electronics will post 2.28 EPS for the current fiscal year.

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

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Suntrust Banks Inc. boosted its position in shares of Universal Electronics by 0.5% during the 2nd quarter. Suntrust Banks Inc. now owns 7,891 shares of the technology company’s stock valued at $527,000 after acquiring an additional 43 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Universal Electronics by 1.8% in the second quarter. PNC Financial Services Group Inc. now owns 4,144 shares of the technology company’s stock worth $278,000 after buying an additional 75 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Universal Electronics by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 11,082 shares of the technology company’s stock worth $741,000 after buying an additional 91 shares during the last quarter. TIAA CREF Investment Management LLC lifted its position in Universal Electronics by 0.5% in the second quarter. TIAA CREF Investment Management LLC now owns 38,098 shares of the technology company’s stock worth $2,547,000 after buying an additional 188 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Universal Electronics by 17.7% in the second quarter. Victory Capital Management Inc. now owns 1,962 shares of the technology company’s stock worth $131,000 after buying an additional 295 shares during the last quarter. Hedge funds and other institutional investors 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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