Universal Electronics (UEIC) Cut to Strong Sell at BidaskClub

BidaskClub lowered shares of Universal Electronics (NASDAQ:UEIC) from a sell rating to a strong sell rating in a research note issued to investors on Thursday.

Other research analysts have also issued reports about the company. B. Riley reissued a buy rating and issued a $73.00 price objective on shares of Universal Electronics in a research report on Tuesday, February 20th. Zacks Investment Research raised Universal Electronics from a sell rating to a hold rating in a research report on Saturday, January 6th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $71.75.

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NASDAQ:UEIC opened at $49.60 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.74 and a current ratio of 1.22. Universal Electronics has a 12 month low of $41.95 and a 12 month high of $72.50. The stock has a market capitalization of $705.02, a price-to-earnings ratio of 17.65, a P/E/G ratio of 1.82 and a beta of 1.23.

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

In other news, insider Richard A. Firehammer, Jr. sold 2,817 shares of Universal Electronics 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gregory Stapleton sold 10,000 shares of Universal Electronics stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $50.04, for a total value of $500,400.00. Following the sale, the director now directly owns 37,601 shares in the company, valued at $1,881,554.04. The disclosure for this sale can be found here. Insiders sold 16,317 shares of company stock worth $829,170 over the last three months. 5.94% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in UEIC. New York State Common Retirement Fund increased its position in shares of Universal Electronics by 30.0% during the third quarter. New York State Common Retirement Fund now owns 41,714 shares of the technology company’s stock worth $2,645,000 after acquiring an additional 9,632 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Universal Electronics by 0.7% during the third quarter. Bank of New York Mellon Corp now owns 184,108 shares of the technology company’s stock worth $11,672,000 after acquiring an additional 1,315 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Universal Electronics by 21.1% during the third quarter. Schwab Charles Investment Management Inc. now owns 82,216 shares of the technology company’s stock worth $5,213,000 after acquiring an additional 14,352 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Universal Electronics by 0.8% during the third quarter. Dimensional Fund Advisors LP now owns 597,067 shares of the technology company’s stock worth $37,854,000 after acquiring an additional 5,030 shares during the last quarter. Finally, Thomson Horstmann & Bryant Inc. increased its position in shares of Universal Electronics by 3.4% during the fourth quarter. Thomson Horstmann & Bryant Inc. now owns 91,959 shares of the technology company’s stock worth $4,345,000 after acquiring an additional 3,008 shares during the last quarter. 95.99% of the stock is currently owned by institutional investors and hedge funds.

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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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