Universal Electronics (UEIC) Lifted to Sell at BidaskClub

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 equities analysts have also recently weighed in on UEIC. Zacks Investment Research upgraded Universal Electronics from a sell rating to a hold rating in a report on Saturday, January 6th. B. Riley reiterated a buy rating and set a $73.00 price target on shares of Universal Electronics in a report on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The company has an average rating of Hold and an average price target of $71.75.

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Universal Electronics (UEIC) opened at $49.85 on Tuesday. The firm has a market capitalization of $731.81, a price-to-earnings ratio of -68.20, a PEG ratio of 1.89 and a beta of 1.37. The company has a current ratio of 1.22, a quick ratio of 0.74 and a debt-to-equity ratio of 0.05. Universal Electronics has a twelve month low of $41.95 and a twelve month high of $72.50.

Universal Electronics (NASDAQ:UEIC) last released its quarterly earnings results on Thursday, February 22nd. The technology company reported $0.60 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.60. The business had revenue of $181.15 million during the quarter, compared to analysts’ expectations of $175.42 million. Universal Electronics had a positive return on equity of 11.65% and a negative net margin of 1.48%. The company’s revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.74 EPS. research analysts predict that Universal Electronics will post 1.83 earnings per share for the current year.

In related news, insider Richard A. Firehammer, Jr. sold 2,817 shares of the stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of $52.35, for a total transaction of $147,469.95. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP David Cheung Hyen Chong sold 3,500 shares of the stock in a transaction dated Thursday, March 22nd. The stock was sold at an average price of $51.80, for a total value of $181,300.00. Following the transaction, the executive vice president now directly owns 25,649 shares in the company, valued at approximately $1,328,618.20. The disclosure for this sale can be found here. 5.94% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of UEIC. First Mercantile Trust Co. lifted its stake in Universal Electronics by 83.7% during the 4th quarter. First Mercantile Trust Co. now owns 3,651 shares of the technology company’s stock worth $173,000 after acquiring an additional 1,664 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Universal Electronics by 40.7% during the 3rd quarter. Victory Capital Management Inc. now owns 2,760 shares of the technology company’s stock worth $175,000 after acquiring an additional 798 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in Universal Electronics during the 4th quarter worth about $235,000. MetLife Investment Advisors LLC acquired a new position in Universal Electronics during the 4th quarter worth about $285,000. Finally, Crossmark Global Holdings Inc. acquired a new position in Universal Electronics during the 3rd quarter worth about $291,000. 95.99% of the stock is currently 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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