Universal Electronics (UEIC) Stock Rating Lowered by BidaskClub

Universal Electronics (NASDAQ:UEIC) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday.

Several other research analysts have also recently issued reports on UEIC. B. Riley reiterated a “buy” rating and set a $77.25 target price on shares of Universal Electronics in a report on Thursday, August 10th. ValuEngine upgraded shares of Universal Electronics from a “sell” rating to a “hold” rating in a report on Tuesday, August 22nd. Zacks Investment Research upgraded shares of Universal Electronics from a “hold” rating to a “strong-buy” rating and set a $73.00 price target on the stock in a report on Tuesday, October 3rd. Finally, Piper Jaffray Companies lowered their price target on shares of Universal Electronics to $70.00 and set an “overweight” rating on the stock in a report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $72.75.

Universal Electronics (UEIC) opened at $50.20 on Tuesday. 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 has a 1-year low of $48.50 and a 1-year high of $74.85. The stock has a market cap of $732.45, a PE ratio of 23.70, a price-to-earnings-growth ratio of 1.62 and a beta of 1.52.

Universal Electronics (NASDAQ:UEIC) last issued 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). 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 for the quarter, compared to the consensus estimate of $182.53 million. During the same quarter in the previous year, the company earned $0.93 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. equities analysts anticipate that Universal Electronics will post 2.11 earnings per share for the current year.

In related news, insider David Cheung Hyen Chong sold 11,550 shares of Universal Electronics 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 sale, the insider now directly owns 31,657 shares in the company, valued at approximately $1,592,663.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Louis Sylvester Hughes sold 925 shares of Universal Electronics stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $53.58, for a total transaction of $49,561.50. Following the completion of the sale, 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. Insiders sold a total of 22,475 shares of company stock worth $1,233,742 over the last 90 days. Company insiders own 5.94% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its stake in 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 purchasing an additional 295 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new stake in Universal Electronics in the 2nd quarter worth approximately $209,000. PNC Financial Services Group Inc. boosted its stake in Universal Electronics by 1.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,144 shares of the technology company’s stock worth $278,000 after purchasing an additional 75 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in Universal Electronics in the 3rd quarter worth approximately $291,000. Finally, Aperio Group LLC boosted its stake in Universal Electronics by 4.8% in the 2nd quarter. Aperio Group LLC now owns 4,701 shares of the technology company’s stock worth $314,000 after purchasing an additional 217 shares in the last quarter. Institutional investors own 96.69% 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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