Universal Electronics Inc. (UEIC) Upgraded to “Hold” by Zacks Investment Research
According to Zacks, “Universal Electronics Inc. develops software, and builds and markets pre-programmed, easy-to-use wireless control devices and chips principally for home entertainment equipment and the subscription broadcast market. The company’s product lines under development include wireless interface technologies, such as combination keyboard/remotes and touch-screen remotes. The company licenses its patented technologies and database of infrared codes to companies selling into the cable and satellite industries, and to original equipment manufacturers. (PRESS RELEASE) “
A number of other brokerages have also recently weighed in on UEIC. Lake Street Capital assumed coverage on Universal Electronics in a research note on Thursday, August 18th. They issued a buy rating and a $87.00 price objective for the company. B. Riley reaffirmed a neutral rating and issued a $73.50 price objective on shares of Universal Electronics in a research note on Friday, August 5th. Dougherty & Co lifted their price objective on Universal Electronics from $70.00 to $86.00 and gave the company a buy rating in a research note on Friday, July 15th. Finally, Sidoti started coverage on Universal Electronics in a research note on Friday, July 22nd. They issued a buy rating for the company. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Universal Electronics has an average rating of Buy and an average price target of $74.92.
Universal Electronics (NASDAQ:UEIC) traded down 1.34% during midday trading on Thursday, hitting $72.67. The company’s stock had a trading volume of 15,335 shares. Universal Electronics has a one year low of $44.12 and a one year high of $80.42. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 43.20 and a beta of 1.75. The company’s 50-day moving average is $75.12 and its 200 day moving average is $70.05.
Universal Electronics (NASDAQ:UEIC) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.77 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.77. Universal Electronics had a return on equity of 16.53% and a net margin of 3.87%. The business earned $172.20 million during the quarter, compared to analysts’ expectations of $170.02 million. During the same period in the previous year, the firm posted $0.67 earnings per share. The company’s revenue was up 16.7% on a year-over-year basis. On average, analysts predict that Universal Electronics will post $3.27 EPS for the current year.
In other news, CFO Bryan M. Hackworth sold 23,000 shares of the business’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $78.42, for a total value of $1,803,660.00. Following the completion of the sale, the chief financial officer now directly owns 41,314 shares of the company’s stock, valued at approximately $3,239,843.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Cheung Hyen Chong sold 3,500 shares of the business’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $75.77, for a total value of $265,195.00. Following the completion of the sale, the insider now directly owns 25,076 shares of the company’s stock, valued at $1,900,008.52. The disclosure for this sale can be found here. Insiders own 5.82% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Mason Street Advisors LLC purchased a new stake in Universal Electronics during the second quarter valued at $204,000. Schwab Charles Investment Management Inc. increased its stake in Universal Electronics by 1.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 49,881 shares of the company’s stock valued at $3,606,000 after buying an additional 762 shares during the last quarter. Stifel Financial Corp increased its stake in Universal Electronics by 0.7% in the second quarter. Stifel Financial Corp now owns 3,238 shares of the company’s stock valued at $235,000 after buying an additional 23 shares during the last quarter. Arizona State Retirement System increased its stake in Universal Electronics by 1.3% in the second quarter. Arizona State Retirement System now owns 7,535 shares of the company’s stock valued at $545,000 after buying an additional 100 shares during the last quarter. Finally, AQR Capital Management LLC purchased a new stake in Universal Electronics during the second quarter valued at $226,000. 93.76% of the stock is owned by institutional investors and hedge funds.
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.
Receive News & Stock Ratings for Universal Electronics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Electronics Inc. and related stocks with our FREE daily email newsletter.