Short Interest in Universal Electronics Inc (NASDAQ:UEIC) Rises By 12.0%

Universal Electronics Inc (NASDAQ:UEIC) was the recipient of a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 918,500 shares, an increase of 12.0% from the May 15th total of 820,400 shares. Based on an average daily volume of 128,600 shares, the days-to-cover ratio is currently 7.1 days. Currently, 6.9% of the shares of the company are sold short.

In other news, insider Menno Koopmans sold 1,505 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $43.56, for a total transaction of $65,557.80. Following the completion of the transaction, the insider now owns 1,682 shares of the company’s stock, valued at $73,267.92. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director J C. Sparkman sold 1,000 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $44.63, for a total transaction of $44,630.00. Following the transaction, the director now directly owns 47,771 shares of the company’s stock, valued at approximately $2,132,019.73. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,505 shares of company stock valued at $192,288. 7.09% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the business. Eagle Asset Management Inc. grew its stake in Universal Electronics by 1.5% during the 1st quarter. Eagle Asset Management Inc. now owns 2,316,854 shares of the technology company’s stock valued at $86,071,000 after acquiring an additional 34,697 shares in the last quarter. BlackRock Inc. grew its stake in Universal Electronics by 2.4% during the 4th quarter. BlackRock Inc. now owns 2,055,467 shares of the technology company’s stock valued at $51,963,000 after acquiring an additional 47,347 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Universal Electronics by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 909,272 shares of the technology company’s stock valued at $22,986,000 after buying an additional 22,427 shares in the last quarter. Foundry Partners LLC grew its stake in shares of Universal Electronics by 7.7% in the 1st quarter. Foundry Partners LLC now owns 245,075 shares of the technology company’s stock valued at $9,105,000 after buying an additional 17,475 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Universal Electronics by 1.3% in the 4th quarter. Bank of New York Mellon Corp now owns 172,226 shares of the technology company’s stock valued at $4,354,000 after buying an additional 2,165 shares in the last quarter.

A number of equities research analysts recently weighed in on UEIC shares. BidaskClub cut shares of ZIX from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 7th. Zacks Investment Research upgraded shares of SCHNEIDER ELEC /ADR from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Friday, July 5th. B. Riley set a $42.00 price target on shares of Carbonite and gave the stock a “buy” rating in a research report on Friday, May 3rd. ValuEngine cut shares of Universal Electronics from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 6th. Finally, Sidoti set a $4.00 price target on shares of Barnes & Noble Education and gave the stock a “hold” rating in a research report on Monday, June 10th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Universal Electronics has an average rating of “Buy” and a consensus price target of $50.00.

NASDAQ UEIC traded down $1.00 on Friday, hitting $41.71. 81,952 shares of the company were exchanged, compared to its average volume of 97,458. The company’s 50 day moving average price is $40.49. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 0.08. The company has a market cap of $578.10 million, a price-to-earnings ratio of 49.07, a P/E/G ratio of 2.01 and a beta of 1.34. Universal Electronics has a twelve month low of $23.29 and a twelve month high of $47.65.

Universal Electronics (NASDAQ:UEIC) last posted its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.09. The firm had revenue of $184.16 million for the quarter, compared to the consensus estimate of $180.69 million. Universal Electronics had a return on equity of 4.27% and a net margin of 1.64%. Equities research analysts expect that Universal Electronics will post 1.42 earnings per share for the current fiscal year.

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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