Universal Electronics (NASDAQ:UEIC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Saturday.
According to Zacks, “Universal Electronics Inc. is the worldwide leader in universal control and sensing technologies for the smart home. The company designs, develops, manufactures and ships over 500 innovative products that are used by the world’s leading brands in the audio video, subscription broadcasting, connected home, tablet and smart phone markets. 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 serves cable and satellite television service providers; original equipment manufacturers; software development companies; subscription broadcasting providers. “
A number of other brokerages have also recently weighed in on UEIC. B. Riley set a $77.00 price objective on Universal Electronics and gave the company a “buy” rating in a report on Tuesday, October 31st. Piper Jaffray Companies decreased their price objective on Universal Electronics to $70.00 and set an “overweight” rating on the stock in a report on Friday, November 3rd. Finally, BidaskClub cut Universal Electronics from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Universal Electronics currently has an average rating of “Hold” and a consensus target price of $72.75.
Universal Electronics (NASDAQ:UEIC) last announced its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.81 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.04). The firm had revenue of $175.51 million for the quarter, compared to analysts’ expectations of $182.53 million. Universal Electronics had a net margin of 1.45% and a return on equity of 11.27%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.93 earnings per share. research analysts anticipate that Universal Electronics will post 2.28 earnings per share for the current year.
In other news, insider David Cheung Hyen Chong sold 11,550 shares of Universal Electronics stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $50.31, for a total value of $581,080.50. Following the sale, the insider now directly owns 31,657 shares in the company, valued at approximately $1,592,663.67. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Louis Sylvester Hughes sold 925 shares of Universal Electronics stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $53.58, for a total value of $49,561.50. Following the completion of the sale, the chief operating officer now owns 1,502 shares in the company, valued at $80,477.16. The disclosure for this sale can be found here. 5.94% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the company. Segall Bryant & Hamill LLC grew its position in shares of Universal Electronics by 77.3% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 145,204 shares of the technology company’s stock worth $9,206,000 after buying an additional 63,297 shares during the last quarter. Formula Growth Ltd. grew its position in shares of Universal Electronics by 21.7% in the 3rd quarter. Formula Growth Ltd. now owns 28,000 shares of the technology company’s stock worth $1,775,000 after buying an additional 5,000 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Universal Electronics by 0.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 597,067 shares of the technology company’s stock worth $37,854,000 after buying an additional 5,030 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Universal Electronics by 21.1% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 82,216 shares of the technology company’s stock worth $5,213,000 after buying an additional 14,352 shares during the last quarter. Finally, Hartland & Co. LLC grew its position in shares of Universal Electronics by 41.7% in the 3rd quarter. Hartland & Co. LLC now owns 21,245 shares of the technology company’s stock worth $1,347,000 after buying an additional 6,250 shares during the last quarter. Hedge funds and other institutional investors own 96.66% 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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