Universal Electronics (UEIC) Upgraded at BidaskClub
BidaskClub upgraded shares of Universal Electronics (NASDAQ:UEIC) from a strong sell rating to a sell rating in a research report released on Tuesday.
Other equities analysts have also recently issued reports about the stock. Zacks Investment Research cut 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 target price on shares of Universal Electronics and gave the company a buy rating in a report on Tuesday, October 31st. Finally, Piper Jaffray Companies cut their target price on shares of Universal Electronics to $70.00 and set an overweight rating on the stock in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $72.75.
Shares of Universal Electronics (NASDAQ UEIC) opened at $48.55 on Tuesday. 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 firm has a market cap of $683.10, a P/E ratio of 73.56, a price-to-earnings-growth ratio of 0.88 and a beta of 1.53.
Universal Electronics (NASDAQ:UEIC) last released its quarterly earnings data 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 return on equity of 11.27% and a net margin of 1.45%. The company had revenue of $175.51 million for the quarter, compared to analyst estimates of $182.53 million. During the same period in the previous year, the business posted $0.93 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. sell-side analysts expect that Universal Electronics will post 2.28 EPS for the current year.
In other Universal Electronics news, Director J C. Sparkman bought 2,000 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were acquired at an average cost of $47.50 per share, with a total value of $95,000.00. Following the acquisition, the director now directly owns 41,871 shares of the company’s stock, valued at approximately $1,988,872.50. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider David Cheung Hyen Chong sold 11,550 shares of Universal Electronics stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $50.31, for a total transaction of $581,080.50. Following the completion of the transaction, the insider now directly owns 31,657 shares in the company, valued at $1,592,663.67. The disclosure for this sale can be found here. Insiders own 5.94% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Universal Electronics by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 747,254 shares of the technology company’s stock valued at $49,955,000 after buying an additional 23,964 shares during the period. Dimensional Fund Advisors LP increased its stake in Universal Electronics by 0.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 597,067 shares of the technology company’s stock valued at $37,854,000 after buying an additional 5,030 shares during the period. Voya Investment Management LLC increased its stake in Universal Electronics by 7.2% in the 2nd quarter. Voya Investment Management LLC now owns 449,411 shares of the technology company’s stock valued at $30,043,000 after buying an additional 30,337 shares during the period. State Street Corp increased its stake in Universal Electronics by 5.3% in the 2nd quarter. State Street Corp now owns 349,027 shares of the technology company’s stock valued at $23,332,000 after buying an additional 17,564 shares during the period. Finally, Granite Investment Partners LLC increased its stake in Universal Electronics by 42.3% in the 3rd quarter. Granite Investment Partners LLC now owns 272,897 shares of the technology company’s stock valued at $17,301,000 after buying an additional 81,091 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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