Universal Electronics Inc (UEIC) Lifted to B- at TheStreet
UEIC has been the subject of a number of other reports. Zacks Investment Research raised shares of Universal Electronics from a sell rating to a hold rating in a report on Wednesday, January 11th. Lake Street Capital reduced their target price on shares of Universal Electronics from $78.00 to $71.00 and set a buy rating for the company in a report on Friday, February 17th. Five analysts have rated the stock with a buy rating, The stock has an average rating of Buy and an average price target of $75.38.
Universal Electronics (NASDAQ:UEIC) opened at 67.25 on Thursday. The stock has a market capitalization of $967.73 million, a price-to-earnings ratio of 48.73 and a beta of 1.78. Universal Electronics has a 1-year low of $52.90 and a 1-year high of $80.42. The firm has a 50-day moving average of $65.76 and a 200-day moving average of $68.29.
Universal Electronics (NASDAQ:UEIC) last announced its earnings results on Thursday, February 16th. The company reported $0.70 EPS for the quarter, meeting analysts’ consensus estimates of $0.70. Universal Electronics had a net margin of 4.05% and a return on equity of 16.85%. The business earned $160.10 million during the quarter, compared to analysts’ expectations of $164.41 million. During the same period in the prior year, the company earned $0.91 earnings per share. The business’s revenue was down 1.2% compared to the same quarter last year. Equities research analysts anticipate that Universal Electronics will post $3.63 EPS for the current year.
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Several hedge funds and other institutional investors have recently modified their holdings of the company. Schroder Investment Management Group purchased a new position in shares of Universal Electronics during the third quarter worth about $108,000. Smith Asset Management Group LP raised its position in shares of Universal Electronics by 1.8% in the third quarter. Smith Asset Management Group LP now owns 2,213 shares of the company’s stock worth $165,000 after buying an additional 40 shares during the period. Municipal Employees Retirement System of Michigan raised its position in shares of Universal Electronics by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,200 shares of the company’s stock worth $238,000 after buying an additional 50 shares during the period. SG Americas Securities LLC purchased a new position in shares of Universal Electronics during the third quarter worth about $326,000. Finally, USA Financial Portformulas Corp purchased a new position in shares of Universal Electronics during the third quarter worth about $332,000. Institutional investors and hedge funds own 90.71% of the company’s stock.
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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