Short Interest in Universal Electronics Inc (NASDAQ:UEIC) Declines By 23.2%

Universal Electronics Inc (NASDAQ:UEIC) was the recipient of a significant decrease in short interest during the month of June. As of June 30th, there was short interest totalling 222,200 shares, a decrease of 23.2% from the June 15th total of 289,400 shares. Based on an average daily volume of 88,000 shares, the short-interest ratio is presently 2.5 days. Approximately 1.7% of the company’s shares are short sold.

Several equities analysts recently commented on the stock. Zacks Investment Research lowered shares of Universal Electronics from a “hold” rating to a “sell” rating in a research report on Wednesday, June 10th. BidaskClub raised shares of Universal Electronics from a “hold” rating to a “buy” rating in a research report on Friday, June 19th. ValuEngine raised shares of Universal Electronics from a “sell” rating to a “hold” rating in a research report on Friday, March 20th. Finally, B. Riley decreased their price objective on shares of Universal Electronics from $70.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, May 8th.

UEIC traded down $0.53 during trading on Tuesday, hitting $45.75. 24 shares of the company’s stock were exchanged, compared to its average volume of 64,761. The company has a current ratio of 1.45, a quick ratio of 0.87 and a debt-to-equity ratio of 0.05. Universal Electronics has a 1 year low of $29.50 and a 1 year high of $60.00. The stock has a 50 day moving average price of $45.11 and a 200 day moving average price of $44.46. The firm has a market cap of $640.00 million, a P/E ratio of 64.28, a price-to-earnings-growth ratio of 1.25 and a beta of 1.21.

Universal Electronics (NASDAQ:UEIC) last announced its earnings results on Thursday, May 7th. The technology company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.02). The firm had revenue of $151.78 million during the quarter, compared to analysts’ expectations of $165.19 million. Universal Electronics had a net margin of 1.45% and a return on equity of 3.93%. Analysts forecast that Universal Electronics will post 2.45 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in shares of Universal Electronics by 11.1% in the first quarter. Royal Bank of Canada now owns 487,849 shares of the technology company’s stock valued at $18,719,000 after purchasing an additional 48,837 shares during the period. State Street Corp boosted its stake in shares of Universal Electronics by 11.4% in the first quarter. State Street Corp now owns 449,373 shares of the technology company’s stock valued at $17,242,000 after purchasing an additional 45,913 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Universal Electronics by 19.6% in the first quarter. The Manufacturers Life Insurance Company now owns 258,398 shares of the technology company’s stock valued at $9,915,000 after purchasing an additional 42,368 shares during the period. Geode Capital Management LLC boosted its stake in shares of Universal Electronics by 3.1% in the first quarter. Geode Capital Management LLC now owns 204,044 shares of the technology company’s stock valued at $7,828,000 after purchasing an additional 6,123 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Universal Electronics by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 178,681 shares of the technology company’s stock valued at $6,856,000 after purchasing an additional 2,260 shares during the period. Institutional investors and hedge funds own 99.00% of the company’s stock.

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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