Universal Electronics Inc. (UEIC) Reaches New 52-Week Low on Analyst Downgrade

Universal Electronics Inc. (NASDAQ:UEIC)’s share price reached a new 52-week low on Monday after Piper Jaffray Companies lowered their price target on the stock to $70.00. Piper Jaffray Companies currently has an overweight rating on the stock. Universal Electronics traded as low as $48.95 and last traded at $48.90, with a volume of 56943 shares traded. The stock had previously closed at $51.20.

Other equities research analysts also recently issued reports about the stock. BidaskClub raised shares of Universal Electronics from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Zacks Investment Research cut shares of Universal Electronics from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 5th. ValuEngine upgraded shares of Universal Electronics from a “sell” rating to a “hold” rating in a report on Tuesday, August 22nd. Finally, B. Riley restated a “buy” rating and issued a $77.25 price objective on shares of Universal Electronics in a report on Monday, July 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Universal Electronics has an average rating of “Hold” and an average target price of $72.75.

In other news, Director William C. Mulligan purchased 5,000 shares of the stock in a transaction on Wednesday, August 23rd. The stock was bought at an average price of $55.91 per share, for a total transaction of $279,550.00. Following the acquisition, the director now directly owns 17,966 shares of the company’s stock, valued at approximately $1,004,479.06. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory Stapleton sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $60.31, for a total transaction of $603,100.00. Following the transaction, the director now owns 35,726 shares of the company’s stock, valued at approximately $2,154,635.06. The disclosure for this sale can be found here. Insiders own 5.82% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. boosted its holdings in shares of Universal Electronics by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 1,962 shares of the technology company’s stock valued at $131,000 after buying an additional 295 shares in the last quarter. State of Alaska Department of Revenue raised its position in Universal Electronics by 79.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 2,858 shares of the technology company’s stock valued at $191,000 after purchasing an additional 1,268 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new stake in Universal Electronics in the 2nd quarter valued at $209,000. PNC Financial Services Group Inc. raised its position in Universal Electronics by 1.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,144 shares of the technology company’s stock valued at $278,000 after purchasing an additional 75 shares during the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new stake in Universal Electronics in the 3rd quarter valued at $291,000. Institutional investors and hedge funds own 95.34% of the company’s stock.

The stock has a market cap of $737.35, a PE ratio of 23.70, a P/E/G ratio of 1.03 and a beta of 1.59. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.80 and a current ratio of 1.34.

Universal Electronics (NASDAQ:UEIC) last released its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.81 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 analysts’ expectations of $182.53 million. Universal Electronics had a net margin of 1.45% and a return on equity of 11.27%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 EPS. analysts predict that Universal Electronics Inc. will post 2.85 earnings per share for the current year.

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Universal Electronics Company Profile

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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