Universal Electronics (UEIC) Downgraded by BidaskClub to Strong Sell

BidaskClub cut shares of Universal Electronics (NASDAQ:UEIC) from a sell rating to a strong sell rating in a research note released on Friday.

A number of other research firms have also weighed in on UEIC. Zacks Investment Research lowered 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 lowered their target price on Universal Electronics to $70.00 and set an overweight rating for the company in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Universal Electronics currently has a consensus rating of Hold and an average target price of $72.75.

Shares of Universal Electronics (NASDAQ:UEIC) opened at $46.75 on Friday. The company has a current ratio of 1.34, a quick ratio of 0.80 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $662.36, a price-to-earnings ratio of 69.78, a price-to-earnings-growth ratio of 0.82 and a beta of 1.53. Universal Electronics has a twelve month low of $44.25 and a twelve month high of $74.85.

Universal Electronics (NASDAQ:UEIC) last posted 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). The company had revenue of $175.51 million for 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 firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.93 EPS. equities analysts forecast that Universal Electronics will post 2.28 EPS for the current year.

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

Several institutional investors and hedge funds have recently modified their holdings of UEIC. Schwab Charles Investment Management Inc. lifted its holdings in shares of Universal Electronics by 19.8% during the 2nd 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. Bank of New York Mellon Corp lifted its holdings in shares of Universal Electronics by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 182,793 shares of the technology company’s stock valued at $12,220,000 after purchasing an additional 1,172 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Universal Electronics by 9.4% during the 2nd quarter. Legal & General Group Plc now owns 26,381 shares of the technology company’s stock valued at $1,765,000 after purchasing an additional 2,259 shares during the last quarter. 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 purchasing an additional 295 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Universal Electronics by 5.5% during the 2nd quarter. Swiss National Bank now owns 24,924 shares of the technology company’s stock valued at $1,666,000 after purchasing an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 96.68% 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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