Universal Electronics (UEIC) Downgraded by BidaskClub

Universal Electronics (NASDAQ:UEIC) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Tuesday, December 5th.

Other research analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Universal Electronics from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 5th. 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. Piper Jaffray Companies lowered their price objective on shares of Universal Electronics to $70.00 and set an “overweight” rating for the company in a research note on Friday, November 3rd. Finally, ValuEngine upgraded shares of Universal Electronics from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Two 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 stock presently has a consensus rating of “Hold” and an average price target of $72.75.

Universal Electronics (UEIC) traded up $0.20 during trading hours on Tuesday, reaching $47.25. 98,583 shares of the company were exchanged, compared to its average volume of 82,656. 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 $46.05 and a 1-year high of $74.85. The company has a market capitalization of $675.95, a price-to-earnings ratio of 71.59, a price-to-earnings-growth ratio of 1.38 and a beta of 1.52.

Universal Electronics (NASDAQ:UEIC) last posted its quarterly 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 analyst estimates of $182.53 million. During the same quarter in the previous year, the business posted $0.93 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. analysts anticipate that Universal Electronics will post 2.28 EPS for the current fiscal year.

In other news, insider David Cheung Hyen Chong sold 11,550 shares of the company’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $50.31, for a total transaction of $581,080.50. Following the sale, the insider now directly owns 31,657 shares in the company, valued at $1,592,663.67. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Louis Sylvester Hughes sold 925 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $53.58, for a total value of $49,561.50. Following the sale, the chief operating officer now owns 1,502 shares in the company, valued at $80,477.16. The disclosure for this sale can be found here. 5.94% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of UEIC. William Blair Investment Management LLC increased its position in shares of Universal Electronics by 20.1% in the second quarter. William Blair Investment Management LLC now owns 1,599,417 shares of the technology company’s stock worth $106,921,000 after purchasing an additional 267,722 shares during the last quarter. Northpointe Capital LLC bought a new position in shares of Universal Electronics in the second quarter worth approximately $6,270,000. Granite Investment Partners LLC increased its position in shares of Universal Electronics by 42.3% in the third quarter. Granite Investment Partners LLC now owns 272,897 shares of the technology company’s stock worth $17,301,000 after purchasing an additional 81,091 shares during the last quarter. Segall Bryant & Hamill LLC boosted its stake in Universal Electronics by 77.3% in the third quarter. Segall Bryant & Hamill LLC now owns 145,204 shares of the technology company’s stock worth $9,206,000 after buying an additional 63,297 shares in the last quarter. Finally, Kennedy Capital Management Inc. boosted its stake in Universal Electronics by 23.8% in the second quarter. Kennedy Capital Management Inc. now owns 243,487 shares of the technology company’s stock worth $16,277,000 after buying an additional 46,838 shares in the last quarter. Institutional investors own 96.66% 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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