Universal Electronics Inc. (UEIC) Downgraded to Strong Sell at BidaskClub
Universal Electronics Inc. (NASDAQ:UEIC) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Saturday.
Several other brokerages have also recently weighed in on UEIC. Zacks Investment Research upgraded Universal Electronics from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 5th. B. Riley restated a “buy” rating and set a $77.25 target price on shares of Universal Electronics in a report on Monday, July 31st. Piper Jaffray Companies restated a “buy” rating and set a $77.00 target price on shares of Universal Electronics in a report on Friday, May 5th. Finally, Lake Street Capital cut Universal Electronics from a “buy” rating to a “hold” rating and set a $71.00 target price on the stock. in a report on Friday, May 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $74.06.
Shares of Universal Electronics (UEIC) opened at 58.20 on Friday. The stock has a market capitalization of $838.14 million, a P/E ratio of 53.84 and a beta of 1.65. Universal Electronics has a 12 month low of $52.90 and a 12 month high of $80.42. The firm’s 50-day moving average price is $66.54 and its 200-day moving average price is $66.28.
Universal Electronics (NASDAQ:UEIC) last issued its earnings results on Thursday, August 3rd. The technology company reported $0.78 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.78. The business had revenue of $177.58 million for the quarter, compared to analysts’ expectations of $176.12 million. Universal Electronics had a return on equity of 11.97% and a net margin of 2.37%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.74 EPS. On average, equities research analysts forecast that Universal Electronics will post $3.14 EPS for the current year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UEIC. State of Alaska Department of Revenue boosted its position 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 worth $108,000 after buying an additional 20 shares in the last quarter. Victory Capital Management Inc. boosted its position 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 worth $114,000 after buying an additional 321 shares in the last quarter. First Mercantile Trust Co. boosted its position 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 worth $175,000 after buying an additional 183 shares in the last quarter. Mason Street Advisors LLC boosted its position 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 worth $232,000 after buying an additional 200 shares in the last quarter. Finally, Invictus RG acquired a new position in Universal Electronics during the first quarter worth approximately $236,000. Hedge funds and other institutional investors own 91.85% of the company’s stock.
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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