Universal Electronics Inc. (NASDAQ:UEIC) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Universal Electronics Inc. (NASDAQ:UEICGet Rating) have been assigned a consensus rating of “Buy” from the six analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and three have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $64.33.

Several research analysts recently issued reports on the stock. StockNews.com upgraded shares of Universal Electronics from a “hold” rating to a “buy” rating in a research report on Friday. TheStreet lowered shares of Universal Electronics from a “c” rating to a “d+” rating in a research report on Thursday, May 5th. Zacks Investment Research lowered shares of Universal Electronics from a “hold” rating to a “strong sell” rating in a research report on Wednesday. Finally, B. Riley cut their price target on shares of Universal Electronics from $62.00 to $53.00 in a research report on Friday, February 18th.

In other Universal Electronics news, Director William C. Mulligan bought 6,500 shares of the firm’s stock in a transaction on Tuesday, February 22nd. The stock was acquired at an average price of $31.84 per share, with a total value of $206,960.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 7.09% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of UEIC. Lapides Asset Management LLC grew its holdings in shares of Universal Electronics by 32.6% during the first quarter. Lapides Asset Management LLC now owns 230,300 shares of the technology company’s stock valued at $7,195,000 after buying an additional 56,600 shares during the last quarter. Sei Investments Co. purchased a new stake in Universal Electronics in the fourth quarter worth approximately $2,116,000. The Manufacturers Life Insurance Company boosted its holdings in Universal Electronics by 10.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 540,053 shares of the technology company’s stock worth $22,008,000 after purchasing an additional 50,290 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Universal Electronics by 10.6% in the third quarter. The Manufacturers Life Insurance Company now owns 489,763 shares of the technology company’s stock worth $24,121,000 after purchasing an additional 47,016 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in Universal Electronics by 92.1% in the second quarter. Morgan Stanley now owns 94,868 shares of the technology company’s stock worth $4,601,000 after purchasing an additional 45,474 shares during the last quarter. Hedge funds and other institutional investors own 87.74% of the company’s stock.

Universal Electronics stock opened at $26.87 on Friday. The stock has a market cap of $339.37 million, a P/E ratio of -68.90 and a beta of 1.10. Universal Electronics has a fifty-two week low of $26.09 and a fifty-two week high of $53.07. The firm’s fifty day moving average price is $30.30 and its 200-day moving average price is $34.78.

Universal Electronics (NASDAQ:UEICGet Rating) last released its quarterly earnings results on Thursday, May 5th. The technology company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.15). Universal Electronics had a negative return on equity of 1.60% and a negative net margin of 0.79%. The firm had revenue of $132.41 million during the quarter, compared to the consensus estimate of $135.06 million. As a group, equities research analysts forecast that Universal Electronics will post 0.51 EPS for the current year.

About Universal Electronics (Get Rating)

Universal Electronics Inc designs, develops, manufactures, and sells pre-programmed and universal control products, audio-video (AV) accessories, and intelligent wireless security and smart home products for video services, consumer electronics, security, home automation, climate control, and home appliance markets.

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