BidaskClub upgraded shares of Universal Electronics (NASDAQ:UEIC) from a strong sell rating to a sell rating in a research note released on Tuesday, January 9th.
A number of other brokerages also recently issued reports on UEIC. Zacks Investment Research downgraded Universal Electronics from a strong-buy rating to a hold rating in a report on Thursday, October 5th. B. Riley set a $77.00 target price on Universal Electronics and gave the stock a buy rating in a report on Tuesday, October 31st. Finally, Piper Jaffray Companies reduced their target price on Universal Electronics to $70.00 and set an overweight rating on the stock in a report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Universal Electronics has an average rating of Hold and an average price target of $72.75.
Shares of Universal Electronics (NASDAQ UEIC) opened at $48.55 on Tuesday. Universal Electronics has a 52 week low of $46.05 and a 52 week high of $74.85. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.80 and a current ratio of 1.34. The stock has a market capitalization of $694.54, a PE ratio of 22.48, a price-to-earnings-growth ratio of 0.86 and a beta of 1.53.
Universal Electronics (NASDAQ:UEIC) last released 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 net margin of 1.45% and a return on equity of 11.27%. The company had revenue of $175.51 million during the quarter, compared to the consensus estimate of $182.53 million. During the same period last year, the firm posted $0.93 EPS. The company’s revenue was up 3.0% on a year-over-year basis. sell-side analysts forecast that Universal Electronics will post 2.28 EPS for the current year.
In related news, COO Louis Sylvester Hughes sold 925 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $53.58, for a total value of $49,561.50. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director J C. Sparkman purchased 2,000 shares of the stock in a transaction dated Friday, December 15th. The shares were purchased at an average cost of $47.50 per share, for a total transaction of $95,000.00. Following the completion of the acquisition, the director now directly owns 41,871 shares in the company, valued at $1,988,872.50. The disclosure for this purchase can be found here. Corporate insiders own 5.94% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in UEIC. Victory Capital Management Inc. lifted its holdings in shares of Universal Electronics by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 1,962 shares of the technology company’s stock valued at $131,000 after buying an additional 295 shares during the period. Piedmont Investment Advisors LLC bought a new position in shares of Universal Electronics during the 2nd quarter valued at $209,000. PNC Financial Services Group Inc. lifted its holdings in shares of 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 buying an additional 75 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in shares of Universal Electronics in the 3rd quarter worth $291,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Universal Electronics in the 2nd quarter worth $337,000. 96.66% of the stock is currently owned by hedge funds and other institutional investors.
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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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