Universal Electronics (NASDAQ:UEIC) Rating Lowered to Strong Sell at BidaskClub

BidaskClub cut shares of Universal Electronics (NASDAQ:UEIC) from a sell rating to a strong sell rating in a research note released on Thursday, BidAskClub reports.

Several other equities analysts have also issued reports on UEIC. TheStreet lowered Universal Electronics from a b- rating to a c+ rating in a research note on Thursday, September 3rd. Zacks Investment Research downgraded shares of Universal Electronics from a hold rating to a sell rating in a research report on Thursday, August 13th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company. Universal Electronics has an average rating of Hold and an average price target of $53.00.

Shares of NASDAQ UEIC opened at $39.76 on Thursday. Universal Electronics has a 1-year low of $29.50 and a 1-year high of $60.00. The company has a 50-day moving average of $42.69 and a two-hundred day moving average of $42.08. The company has a market cap of $553.94 million, a PE ratio of 18.84, a P/E/G ratio of 1.23 and a beta of 1.04.

Universal Electronics (NASDAQ:UEIC) last issued its quarterly earnings results on Thursday, August 6th. The technology company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.29. Universal Electronics had a net margin of 4.40% and a return on equity of 10.97%. The business had revenue of $153.13 million during the quarter, compared to analyst estimates of $150.64 million. As a group, research analysts expect that Universal Electronics will post 2.04 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in UEIC. Teachers Retirement System of The State of Kentucky lifted its stake in Universal Electronics by 47.1% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 4,688 shares of the technology company’s stock valued at $219,000 after buying an additional 1,500 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Universal Electronics by 6.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 178,087 shares of the technology company’s stock valued at $8,339,000 after acquiring an additional 10,349 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Universal Electronics in the 2nd quarter valued at approximately $5,089,000. Grantham Mayo Van Otterloo & Co. LLC boosted its stake in Universal Electronics by 41.1% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 59,000 shares of the technology company’s stock worth $2,762,000 after acquiring an additional 17,200 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in Universal Electronics by 1,453.1% during the second quarter. Bank of Montreal Can now owns 210,818 shares of the technology company’s stock valued at $9,274,000 after purchasing an additional 197,244 shares during the period.

About Universal Electronics

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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