Universal Electronics Inc (UEIC) Given Average Recommendation of “Hold” by Brokerages

Shares of Universal Electronics Inc (NASDAQ:UEIC) have been assigned a consensus rating of “Hold” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $72.67.

Several equities analysts have recently issued reports on UEIC shares. Zacks Investment Research lowered Universal Electronics from a “hold” rating to a “strong sell” rating in a report on Thursday, November 9th. Piper Jaffray Companies reduced their target price on Universal Electronics to $70.00 and set an “overweight” rating for the company in a report on Friday, November 3rd. BidaskClub lowered Universal Electronics from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 5th. Finally, B. Riley set a $77.00 target price on Universal Electronics and gave the company a “buy” rating in a report on Tuesday, October 31st.

Universal Electronics (NASDAQ:UEIC) opened at $49.65 on Monday. The stock has a market capitalization of $710.28, a P/E ratio of 74.11, a PEG ratio of 0.88 and a beta of 1.53. The company has a quick ratio of 0.80, a current ratio of 1.34 and a debt-to-equity ratio of 0.05. Universal Electronics has a twelve month low of $46.05 and a twelve month high of $74.85.

Universal Electronics (NASDAQ:UEIC) last released its 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). The business had revenue of $175.51 million during the quarter, compared to the consensus estimate of $182.53 million. Universal Electronics had a net margin of 1.45% and a return on equity of 11.27%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.93 earnings per share. analysts anticipate that Universal Electronics will post 2.28 EPS for the current year.

In other news, Director J C. Sparkman acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were acquired at an average price of $47.50 per share, for a total transaction of $95,000.00. Following the completion of the purchase, the director now owns 41,871 shares in the company, valued at $1,988,872.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David Cheung Hyen Chong sold 11,550 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $50.31, for a total value of $581,080.50. Following the completion of the transaction, the insider now owns 31,657 shares in the company, valued at approximately $1,592,663.67. The disclosure for this sale can be found here. 5.94% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of UEIC. Granite Investment Partners LLC lifted its position in shares of Universal Electronics by 42.3% during the third quarter. Granite Investment Partners LLC now owns 272,897 shares of the technology company’s stock worth $17,301,000 after acquiring an additional 81,091 shares in the last quarter. Segall Bryant & Hamill LLC lifted its position in shares of Universal Electronics by 77.3% during the third quarter. Segall Bryant & Hamill LLC now owns 145,204 shares of the technology company’s stock worth $9,206,000 after acquiring an additional 63,297 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of Universal Electronics by 7.2% during the second quarter. Voya Investment Management LLC now owns 449,411 shares of the technology company’s stock worth $30,043,000 after acquiring an additional 30,337 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Universal Electronics by 3.3% during the second quarter. Vanguard Group Inc. now owns 747,254 shares of the technology company’s stock worth $49,955,000 after acquiring an additional 23,964 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Universal Electronics by 5.3% during the second quarter. State Street Corp now owns 349,027 shares of the technology company’s stock worth $23,332,000 after acquiring an additional 17,564 shares in the last quarter. Institutional investors and hedge funds own 96.66% of the company’s stock.

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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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