Universal Electronics (UEIC) Lifted to “Hold” at BidaskClub

BidaskClub upgraded shares of Universal Electronics (NASDAQ:UEIC) from a sell rating to a hold rating in a research note issued to investors on Saturday.

Several other brokerages also recently weighed in on UEIC. ValuEngine downgraded Universal Electronics from a hold rating to a sell rating in a research report on Monday, December 17th. Zacks Investment Research upgraded Universal Electronics from a strong sell rating to a hold rating in a research report on Friday, January 11th. Sidoti upgraded Universal Electronics from a neutral rating to a buy rating in a research report on Wednesday, November 14th. Finally, B. Riley upgraded Universal Electronics from a neutral rating to a buy rating and set a $42.00 price objective for the company in a research report on Friday, November 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The company currently has an average rating of Hold and an average price target of $43.00.

UEIC opened at $28.70 on Friday. The firm has a market cap of $416.79 million, a PE ratio of 10.17, a P/E/G ratio of 1.41 and a beta of 1.60. Universal Electronics has a 52-week low of $23.29 and a 52-week high of $55.90. The company has a current ratio of 1.37, a quick ratio of 0.87 and a debt-to-equity ratio of 0.04.

Universal Electronics (NASDAQ:UEIC) last announced its quarterly earnings data on Thursday, November 8th. The technology company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.33. Universal Electronics had a return on equity of 11.88% and a net margin of 0.89%. The business had revenue of $182.72 million during the quarter, compared to the consensus estimate of $184.11 million. Equities analysts forecast that Universal Electronics will post -0.34 earnings per share for the current year.

In related news, insider David Cheung Hyen Chong sold 1,523 shares of the company’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $35.00, for a total transaction of $53,305.00. Following the completion of the sale, the insider now directly owns 25,836 shares in the company, valued at approximately $904,260. The sale was disclosed in a filing with the SEC, which is available through this link. 5.97% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of UEIC. Engaged Capital LLC bought a new position in Universal Electronics in the second quarter valued at about $8,318,000. Investment Counselors of Maryland LLC raised its position in Universal Electronics by 129.4% in the third quarter. Investment Counselors of Maryland LLC now owns 363,790 shares of the technology company’s stock valued at $14,315,000 after purchasing an additional 205,222 shares during the last quarter. BlackRock Inc. raised its position in Universal Electronics by 8.0% in the second quarter. BlackRock Inc. now owns 1,959,067 shares of the technology company’s stock valued at $64,749,000 after purchasing an additional 144,305 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Universal Electronics by 19.1% in the second quarter. Dimensional Fund Advisors LP now owns 843,283 shares of the technology company’s stock valued at $27,871,000 after purchasing an additional 135,359 shares during the last quarter. Finally, William Blair Investment Management LLC raised its position in Universal Electronics by 7.3% in the third quarter. William Blair Investment Management LLC now owns 1,887,302 shares of the technology company’s stock valued at $74,265,000 after purchasing an additional 128,384 shares during the last quarter.

Universal Electronics Company Profile

Universal Electronics Inc develops and manufactures pre-programmed and universal control products, audio-video (AV) accessories, software and intelligent wireless security products, and sensing and automation components for home entertainment and automation systems. The company offers universal infrared and radio frequency (RF) remote controls; integrated circuits on which its software and universal device control database is embedded; and software, firmware, and technology solutions that enable devices, including televisions, set-top boxes, audio systems, smartphones, tablets, game controllers, and other consumer electronic devices to wirelessly connect and interact with home networks, as well as interactive services to control and deliver digital entertainment and information.

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