Universal Electronics (NASDAQ:UEIC) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Friday.
Several other brokerages also recently issued reports on UEIC. Zacks Investment Research downgraded shares of Universal Electronics from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 9th. Piper Jaffray Companies reduced their price objective on shares of Universal Electronics to $70.00 and set an “overweight” rating on the stock in a research note on Friday, November 3rd. Finally, B. Riley set a $77.00 price objective on shares of Universal Electronics and gave the company a “buy” rating in a research note on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Universal Electronics currently has an average rating of “Hold” and an average price target of $72.75.
Shares of Universal Electronics (NASDAQ UEIC) opened at $46.30 on Friday. Universal Electronics has a fifty-two week low of $44.25 and a fifty-two week high of $74.85. The stock has a market cap of $662.37, a PE ratio of 21.44, a price-to-earnings-growth ratio of 0.82 and a beta of 1.53. 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 (NASDAQ:UEIC) last announced its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.04). Universal Electronics had a net margin of 1.45% and a return on equity of 11.27%. The business had revenue of $175.51 million during the quarter, compared to analysts’ expectations of $182.53 million. During the same period last year, the company earned $0.93 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. equities research analysts expect that Universal Electronics will post 2.28 EPS for the current fiscal year.
In other Universal Electronics news, COO Louis Sylvester Hughes sold 925 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $53.58, for a total transaction of $49,561.50. Following the transaction, the chief operating officer now owns 1,502 shares of the company’s stock, valued at $80,477.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider David Cheung Hyen Chong sold 11,550 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 31,657 shares in the company, valued at approximately $1,592,663.67. The disclosure for this sale can be found here. Corporate insiders own 5.94% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Suntrust Banks Inc. raised its stake in Universal Electronics by 0.5% during the second quarter. Suntrust Banks Inc. now owns 7,891 shares of the technology company’s stock worth $527,000 after purchasing an additional 43 shares during the period. PNC Financial Services Group Inc. raised its stake in Universal Electronics by 1.8% during the second 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 during the period. The Manufacturers Life Insurance Company raised its stake in Universal Electronics by 0.8% during the second quarter. The Manufacturers Life Insurance Company now owns 11,082 shares of the technology company’s stock worth $741,000 after purchasing an additional 91 shares during the period. TIAA CREF Investment Management LLC raised its stake in Universal Electronics by 0.5% during the second quarter. TIAA CREF Investment Management LLC now owns 38,098 shares of the technology company’s stock worth $2,547,000 after purchasing an additional 188 shares during the period. Finally, Victory Capital Management Inc. raised its stake in Universal Electronics by 17.7% during the second 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 during the period. 96.66% of the stock is currently owned by 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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