Universal Electronics Inc (UEIC) Given Consensus Rating of “Hold” by Analysts

Universal Electronics Inc (NASDAQ:UEIC) has earned a consensus rating of “Hold” from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $72.67.

A number of equities analysts have recently weighed in on UEIC shares. Zacks Investment Research downgraded Universal Electronics from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 9th. Piper Jaffray Companies cut their target price on Universal Electronics to $70.00 and set an “overweight” rating on the stock in a research note on Friday, November 3rd. BidaskClub upgraded Universal Electronics from a “strong sell” rating to a “sell” rating in a research note on Tuesday, January 9th. Finally, B. Riley set a $77.00 target price on Universal Electronics and gave the stock a “buy” rating in a research note on Tuesday, October 31st.

In other news, Director J C. Sparkman acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were acquired at an average price of $47.50 per share, for a total transaction of $95,000.00. Following the completion of the purchase, the director now owns 41,871 shares in the company, valued at $1,988,872.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David Cheung Hyen Chong sold 11,550 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $50.31, for a total value of $581,080.50. Following the completion of the transaction, the insider now owns 31,657 shares in the company, valued at approximately $1,592,663.67. The disclosure for this sale can be found here. 5.94% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its stake in Universal Electronics by 86.9% in the second quarter. Goldman Sachs Group Inc. now owns 17,406 shares of the technology company’s stock valued at $1,163,000 after purchasing an additional 8,093 shares during the last quarter. Howland Capital Management LLC purchased a new position in Universal Electronics in the third quarter valued at approximately $824,000. Citadel Advisors LLC purchased a new position in Universal Electronics in the second quarter valued at approximately $337,000. Schwab Charles Investment Management Inc. lifted its stake in Universal Electronics by 19.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 67,864 shares of the technology company’s stock valued at $4,537,000 after purchasing an additional 11,194 shares during the last quarter. Finally, State Street Corp lifted its stake in Universal Electronics by 5.3% in the second quarter. State Street Corp now owns 349,027 shares of the technology company’s stock valued at $23,332,000 after purchasing an additional 17,564 shares during the last quarter. Institutional investors and hedge funds own 98.44% of the company’s stock.

Universal Electronics (UEIC) traded down $0.60 during mid-day trading on Friday, reaching $45.15. The company’s stock had a trading volume of 11,161 shares, compared to its average volume of 90,513. The firm has a market cap of $654.49, a P/E ratio of 68.71, a P/E/G ratio of 0.82 and a beta of 1.50. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.34 and a quick ratio of 0.80. Universal Electronics has a fifty-two week low of $44.25 and a fifty-two week high of $74.85.

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

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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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