Universal Electronics Inc. (UEIC) Rating Lowered to Hold at Zacks Investment Research
Universal Electronics Inc. (NASDAQ:UEIC) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday.
According to Zacks, “Universal Electronics Inc. is the worldwide leader in universal control and sensing technologies for the smart home. Its 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, which enable devices, such as televisions, 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 to control and deliver digital entertainment and information. It also provides proprietary and standards-based RF sensors for residential security, safety, and automation applications; and audio-video accessories, trademarks, and database of home connectivity software and control codes. It serves cable and satellite television service providers; original equipment manufacturers; software development companies; subscription broadcasting providers. “
Other research analysts also recently issued research reports about the company. BidaskClub downgraded Universal Electronics from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. ValuEngine raised Universal Electronics from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Finally, B. Riley reaffirmed a “buy” rating and issued a $77.25 price objective on shares of Universal Electronics in a research note on Thursday, August 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $74.56.
Shares of Universal Electronics (UEIC) traded down 1.51% during midday trading on Thursday, hitting $65.15. 30,895 shares of the company were exchanged. The company has a 50-day moving average of $59.56 and a 200 day moving average of $64.61. Universal Electronics has a one year low of $52.90 and a one year high of $74.85. The company has a market capitalization of $938.23 million, a P/E ratio of 60.27 and a beta of 1.62.
Universal Electronics (NASDAQ:UEIC) last issued its earnings results on Thursday, August 3rd. The technology company reported $0.78 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.78. The firm had revenue of $177.58 million during the quarter, compared to the consensus estimate of $176.12 million. Universal Electronics had a return on equity of 11.97% and a net margin of 2.37%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.74 earnings per share. On average, equities research analysts expect that Universal Electronics will post $3.14 earnings per share for the current fiscal year.
In other Universal Electronics news, Director Gregory Stapleton sold 10,000 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $60.31, for a total transaction of $603,100.00. Following the completion of the sale, the director now owns 35,726 shares of the company’s stock, valued at approximately $2,154,635.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William C. Mulligan bought 5,000 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were purchased at an average cost of $55.91 per share, with a total value of $279,550.00. Following the transaction, the director now directly owns 17,966 shares in the company, valued at approximately $1,004,479.06. The disclosure for this purchase can be found here. Corporate insiders own 5.82% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in UEIC. Victory Capital Management Inc. increased its position in Universal Electronics by 23.8% during the 1st quarter. Victory Capital Management Inc. now owns 1,667 shares of the technology company’s stock valued at $114,000 after purchasing an additional 321 shares during the period. State of Alaska Department of Revenue increased its position in Universal Electronics by 79.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 2,858 shares of the technology company’s stock valued at $191,000 after purchasing an additional 1,268 shares during the period. Piedmont Investment Advisors LLC acquired a new stake in Universal Electronics during the 2nd quarter valued at approximately $209,000. Mason Street Advisors LLC increased its position in Universal Electronics by 6.3% during the 1st quarter. Mason Street Advisors LLC now owns 3,384 shares of the technology company’s stock valued at $232,000 after purchasing an additional 200 shares during the period. Finally, Invictus RG acquired a new stake in Universal Electronics during the 1st quarter valued at approximately $236,000. 95.49% of the stock is owned by institutional investors and hedge funds.
About Universal Electronics
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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