Universal Electronics Inc. (UEIC) Downgraded by Zacks Investment Research to “Hold”
Zacks Investment Research cut shares of Universal Electronics Inc. (NASDAQ:UEIC) from a strong-buy rating to a hold rating in a report released 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. “
UEIC has been the subject of several other research reports. BidaskClub lowered shares of Universal Electronics from a buy rating to a hold rating in a research report on Tuesday, July 25th. ValuEngine raised shares of Universal Electronics from a sell rating to a hold rating in a research report on Tuesday, August 22nd. Finally, B. Riley reaffirmed a buy rating and set a $77.25 price target on shares of Universal Electronics in a research report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $74.56.
Universal Electronics (NASDAQ UEIC) traded down 0.23% during trading on Thursday, hitting $65.00. 45,534 shares of the company were exchanged. Universal Electronics has a 12 month low of $52.90 and a 12 month high of $74.85. The company has a 50-day moving average of $59.80 and a 200-day moving average of $64.60. The company has a market capitalization of $936.07 million, a price-to-earnings ratio of 60.13 and a beta of 1.62.
Universal Electronics (NASDAQ:UEIC) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.78 EPS for the quarter, hitting the consensus estimate of $0.78. Universal Electronics had a net margin of 2.37% and a return on equity of 11.97%. The firm had revenue of $177.58 million during the quarter, compared to analyst estimates of $176.12 million. During the same quarter in the prior year, the business posted $0.74 earnings per share. Universal Electronics’s revenue for the quarter was up 3.9% compared to the same quarter last year. Analysts forecast that Universal Electronics will post $3.14 EPS for the current year.
In other Universal Electronics news, Director William C. Mulligan acquired 5,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was bought at an average price of $55.91 per share, with a total value of $279,550.00. Following the completion of the transaction, the director now directly owns 17,966 shares of the company’s stock, valued at $1,004,479.06. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gregory Stapleton sold 10,000 shares of the stock in a transaction on Friday, September 15th. The stock was 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 directly owns 35,726 shares of the company’s stock, valued at approximately $2,154,635.06. The disclosure for this sale can be found here. 5.82% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its position in shares of Universal Electronics by 14.9% in the second quarter. Russell Investments Group Ltd. now owns 27,019 shares of the technology company’s stock worth $1,806,000 after acquiring an additional 3,496 shares in the last quarter. BlackRock Inc. increased its position in shares of Universal Electronics by 151,751.4% in the first quarter. BlackRock Inc. now owns 1,705,291 shares of the technology company’s stock worth $116,813,000 after acquiring an additional 1,704,168 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Universal Electronics in the first quarter worth $2,036,000. BNP Paribas Arbitrage SA increased its position in shares of Universal Electronics by 45.0% in the second quarter. BNP Paribas Arbitrage SA now owns 5,436 shares of the technology company’s stock worth $363,000 after acquiring an additional 1,688 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Universal Electronics by 13.4% in the first quarter. Ameriprise Financial Inc. now owns 95,130 shares of the technology company’s stock worth $6,516,000 after acquiring an additional 11,210 shares in the last quarter. 95.49% of the stock is owned by institutional investors.
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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