Sidoti & Co. Initiates Coverage on Universal Electronics Inc to Buy

Sidoti & Co. Initiates Coverage on Universal Electronics Inc(NASDAQ:UEIC). The shares have been rated Buy. The rating by Sidoti & Co. was issued on Jul 22, 2016.

Universal Electronics Inc (UEIC) made into the market gainers list on Thursdays trading session with the shares advancing 1.20% or 0.91 points. Due to strong positive momentum, the stock ended at $76.99, which is also near the day’s high of $77.15. The stock began the session at $76.01 and the volume stood at 53,947 shares. The 52-week high of the shares is $78.8999 and the 52 week low is $40.2801. The company has a current market capitalization of $1,111 M and it has 1,44,32,424 shares in outstanding.

Universal Electronics Inc(UEIC) last announced its earnings results on May 5, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $151.52M. Analysts had an estimated revenue of $156.85M. Earnings per share were $0.50. Analysts had estimated an EPS of $0.54.

Several Insider Transactions has been reported to the SEC. On Jul 15, 2016, Louis Sylvester Hughes (EVP) sold 1,771 shares at $48.06 per share price.Also, On Jun 15, 2016, Edward K Zinser (director) sold 2,600 shares at $66.88 per share price.On Jun 8, 2016, Paul J Bennett (EVP) sold 13,100 shares at $66.50 per share price, according to the Form-4 filing with the securities and exchange commission.

Universal Electronics Inc. (UEI) develops control technology solutions and manufactures a line of pre-programmed universal remote control products embedded hardware and software and audio-video (AV) accessories for home entertainment systems. The Company’s offerings include pre-programmed universal infrared (IR) and radio frequency (RF) remote controls; audio-video (AV) accessories; integrated circuits on which its software and universal device control database is embedded; software firmware and technology solutions that can enable devices such as TVs set-top boxes stereos smart phones tablets gaming controllers and other consumer electronic devices to wirelessly connect and interact with home networks and interactive services and intellectual property which the Company licenses to OEMs software development companies private label customers and subscription broadcasting providers.

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