BidaskClub Lowers Universal Electronics (NASDAQ:UEIC) to Strong Sell

Universal Electronics (NASDAQ:UEIC) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Thursday, BidAskClub reports.

A number of other equities research analysts have also commented on UEIC. Zacks Investment Research lowered shares of Universal Electronics from a “hold” rating to a “sell” rating in a report on Thursday, August 13th. TheStreet lowered Universal Electronics from a “b-” rating to a “c+” rating in a report on Thursday, September 3rd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $53.00.

NASDAQ UEIC opened at $35.94 on Thursday. Universal Electronics has a one year low of $29.50 and a one year high of $60.00. The firm has a market cap of $500.72 million, a P/E ratio of 17.03, a P/E/G ratio of 1.23 and a beta of 1.04. The stock’s 50-day moving average is $43.12 and its 200-day moving average is $42.14.

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

Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in Universal Electronics by 206.7% during the first quarter. JPMorgan Chase & Co. now owns 47,369 shares of the technology company’s stock worth $1,818,000 after purchasing an additional 31,923 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Universal Electronics by 0.9% during the 1st quarter. Legal & General Group Plc now owns 36,302 shares of the technology company’s stock worth $1,393,000 after buying an additional 318 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Universal Electronics by 39.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,171 shares of the technology company’s stock worth $237,000 after buying an additional 1,761 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Universal Electronics by 9.6% in the 1st quarter. AQR Capital Management LLC now owns 107,109 shares of the technology company’s stock valued at $4,110,000 after acquiring an additional 9,414 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its position in shares of Universal Electronics by 5.3% in the first quarter. Thrivent Financial for Lutherans now owns 11,673 shares of the technology company’s stock valued at $448,000 after acquiring an additional 583 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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