Universal Electronics (NASDAQ:UEIC) Lifted to “Strong-Buy” at BidaskClub

BidaskClub upgraded shares of Universal Electronics (NASDAQ:UEIC) from a buy rating to a strong-buy rating in a research note issued to investors on Wednesday morning, BidAskClub reports.

A number of other analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Universal Electronics from a buy rating to a hold rating in a research note on Wednesday, August 14th. ValuEngine cut shares of Universal Electronics from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $50.00.

NASDAQ UEIC opened at $59.41 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 1.34 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $760.86 million, a PE ratio of 69.89, a price-to-earnings-growth ratio of 5.45 and a beta of 1.23. The company has a 50 day moving average price of $50.68 and a two-hundred day moving average price of $44.24. Universal Electronics has a 12-month low of $23.29 and a 12-month high of $60.00.

Universal Electronics (NASDAQ:UEIC) last posted its earnings results on Thursday, November 7th. The technology company reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.15. The firm had revenue of $200.72 million during the quarter, compared to analysts’ expectations of $191.15 million. Universal Electronics had a negative net margin of 2.22% and a negative return on equity of 6.11%. As a group, equities analysts anticipate that Universal Electronics will post 0.67 EPS for the current year.

In other news, Director Carl E. Vogel sold 12,500 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $45.54, for a total value of $569,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Cheung Hyen Chong sold 1,406 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $45.70, for a total transaction of $64,254.20. Following the completion of the sale, the executive vice president now owns 6,980 shares of the company’s stock, valued at $318,986. The disclosure for this sale can be found here. Insiders sold 27,753 shares of company stock valued at $1,257,361 over the last quarter. Corporate insiders own 7.09% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Bank of Montreal Can lifted its stake in shares of Universal Electronics by 1,037.0% in the second quarter. Bank of Montreal Can now owns 1,228 shares of the technology company’s stock worth $51,000 after buying an additional 1,120 shares during the last quarter. Swiss National Bank lifted its stake in shares of Universal Electronics by 2.8% in the second quarter. Swiss National Bank now owns 25,624 shares of the technology company’s stock worth $1,051,000 after buying an additional 700 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Universal Electronics by 794.6% in the second quarter. Renaissance Technologies LLC now owns 155,664 shares of the technology company’s stock worth $6,385,000 after buying an additional 138,264 shares during the last quarter. Joel Isaacson & Co. LLC acquired a new stake in shares of Universal Electronics in the second quarter worth $451,000. Finally, Vanguard Group Inc. lifted its stake in shares of Universal Electronics by 4.2% in the second quarter. Vanguard Group Inc. now owns 823,376 shares of the technology company’s stock worth $33,774,000 after buying an additional 33,138 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.

Featured Story: What is diluted earnings per share (Diluted EPS)?

Receive News & Ratings for Universal Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Electronics and related companies with MarketBeat.com's FREE daily email newsletter.