Zacks Investment Research Upgrades Universal Electronics Inc. (NASDAQ:UEIC) to “Hold”
Universal Electronics Inc. (NASDAQ:UEIC) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Wednesday, July 5th.
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 equities research analysts also recently commented on the company. Piper Jaffray Companies reiterated a “buy” rating and issued a $77.00 price objective on shares of Universal Electronics in a report on Monday, May 15th. B. Riley reiterated a “buy” rating and issued a $77.25 price objective on shares of Universal Electronics in a report on Wednesday, May 10th. Lake Street Capital downgraded Universal Electronics from a “buy” rating to a “hold” rating and set a $71.00 price objective for the company. in a report on Friday, May 5th. Finally, TheStreet upgraded Universal Electronics from a “c+” rating to a “b-” rating in a report on Thursday, March 16th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Universal Electronics currently has a consensus rating of “Hold” and a consensus price target of $74.06.
Shares of Universal Electronics (UEIC) traded down 4.78% on Wednesday, hitting $62.70. The stock had a trading volume of 179,891 shares. The company has a market cap of $904.89 million, a price-to-earnings ratio of 52.25 and a beta of 1.65. The firm has a 50 day moving average price of $67.54 and a 200-day moving average price of $66.48. Universal Electronics has a 52 week low of $52.90 and a 52 week high of $80.42.
Universal Electronics (NASDAQ:UEIC) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.78 EPS for the quarter, meeting analysts’ consensus estimates of $0.78. The business 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 14.40% and a net margin of 2.68%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.74 earnings per share. Analysts anticipate that Universal Electronics will post $3.35 EPS for the current year.
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Large investors have recently made changes to their positions in the company. State of Alaska Department of Revenue increased its stake in shares of 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 valued at $108,000 after buying an additional 20 shares during the period. PNC Financial Services Group Inc. increased its position in Universal Electronics by 1.7% in the first quarter. PNC Financial Services Group Inc. now owns 4,069 shares of the technology company’s stock worth $279,000 after buying an additional 69 shares during the last quarter. Texas Permanent School Fund increased its position in Universal Electronics by 0.8% in the second quarter. Texas Permanent School Fund now owns 10,567 shares of the technology company’s stock worth $706,000 after buying an additional 88 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Universal Electronics by 2.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 7,470 shares of the technology company’s stock worth $483,000 after buying an additional 175 shares during the last quarter. Finally, First Mercantile Trust Co. increased 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 during the last quarter. Institutional investors own 91.79% 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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