Universal Electronics Inc. (NASDAQ:UEIC) Lowered to Hold at BidaskClub
Universal Electronics Inc. (NASDAQ:UEIC) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
Several other equities analysts also recently weighed in on UEIC. B. Riley restated a “buy” rating and set a $77.25 target price on shares of Universal Electronics in a report on Friday, May 5th. Zacks Investment Research upgraded shares of Universal Electronics from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 5th. Piper Jaffray Companies restated a “buy” rating and set a $77.00 target price on shares of Universal Electronics in a report on Monday, May 15th. Finally, Lake Street Capital downgraded shares of Universal Electronics from a “buy” rating to a “hold” rating and set a $71.00 target price for the company. in a report on Friday, May 5th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $74.06.
Universal Electronics (NASDAQ UEIC) traded up 4.47% during trading on Tuesday, reaching $71.30. 58,932 shares of the company were exchanged. The firm has a market capitalization of $1.03 billion, a PE ratio of 59.42 and a beta of 1.65. The stock has a 50 day moving average price of $66.93 and a 200 day moving average price of $66.35. Universal Electronics has a 12 month low of $52.90 and a 12 month high of $80.42.
Universal Electronics (NASDAQ:UEIC) last posted its earnings results on Thursday, May 4th. The technology company reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.02. Universal Electronics had a net margin of 2.68% and a return on equity of 14.40%. The firm had revenue of $162.30 million during the quarter, compared to the consensus estimate of $158.77 million. During the same period last year, the firm posted $0.50 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, analysts expect that Universal Electronics will post $3.35 EPS for the current fiscal year.
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In other Universal Electronics news, Director Edward K. Zinser sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $72.00, for a total transaction of $720,000.00. Following the sale, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $1,440,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.82% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its stake in Universal Electronics by 1.3% in the first quarter. State of Alaska Department of Revenue now owns 1,590 shares of the technology company’s stock valued at $108,000 after buying an additional 20 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Universal Electronics by 23.8% in the first quarter. Victory Capital Management Inc. now owns 1,667 shares of the technology company’s stock valued at $114,000 after buying an additional 321 shares in the last quarter. First Mercantile Trust Co. boosted its stake in Universal Electronics by 7.7% in the first quarter. First Mercantile Trust Co. now owns 2,556 shares of the technology company’s stock valued at $175,000 after buying an additional 183 shares in the last quarter. Mason Street Advisors LLC boosted its stake in Universal Electronics by 6.3% in the first quarter. Mason Street Advisors LLC now owns 3,384 shares of the technology company’s stock valued at $232,000 after buying an additional 200 shares in the last quarter. Finally, Invictus RG purchased a new stake in Universal Electronics during the first quarter valued at about $236,000. 92.73% of the stock is currently owned by institutional investors.
Universal Electronics Company Profile
Universal Electronics Inc (UEI) develops control and sensor technology solutions and manufactures a line of pre-programmed and universal remote control products, audio-video (AV) accessories, and intelligent wireless security and automation components. The Company’s offerings include pre-programmed universal infrared (IR) and radio frequency (RF) remote controls that are sold primarily to subscription broadcasting providers, original equipment manufacturers (OEMs), retailers, and private label customers, and integrated circuits, on which its software and universal device control database is embedded, sold primarily to OEMs, subscription broadcasting providers, and private label customers.
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