BidaskClub downgraded shares of Universal Electronics Inc. (NASDAQ:UEIC) from a buy rating to a hold rating in a report released on Tuesday morning.

A number of other equities analysts have also weighed in on the stock. Lake Street Capital lowered shares of Universal Electronics from a buy rating to a hold rating and set a $71.00 target price for the company. in a research report on Friday, May 5th. Zacks Investment Research lowered shares of Universal Electronics from a hold rating to a sell rating in a research report on Thursday, May 4th. Piper Jaffray Companies reiterated a buy rating and set a $77.00 target price on shares of Universal Electronics in a research report on Friday, May 5th. Finally, B. Riley reiterated a buy rating and set a $77.25 target price on shares of Universal Electronics in a research report on Monday, March 27th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Universal Electronics presently has a consensus rating of Hold and an average target price of $74.06.

Shares of Universal Electronics (UEIC) traded up 0.58% during mid-day trading on Tuesday, reaching $69.60. 24,498 shares of the company’s stock traded hands. The firm has a 50-day moving average of $67.45 and a 200 day moving average of $66.47. Universal Electronics has a 12-month low of $52.90 and a 12-month high of $80.42. The company has a market cap of $1.00 billion, a P/E ratio of 58.00 and a beta of 1.65.

Universal Electronics (NASDAQ:UEIC) last issued its earnings results on Thursday, May 4th. The technology company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. The firm had revenue of $162.30 million during the quarter, compared to analyst estimates of $158.77 million. Universal Electronics had a net margin of 2.68% and a return on equity of 14.40%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the business earned $0.50 earnings per share. Equities analysts forecast that Universal Electronics will post $3.35 EPS for the current year.

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In other news, Director Edward K. Zinser sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $72.00, for a total value of $720,000.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $1,440,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.82% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Wellington Shields Capital Management LLC raised its position in Universal Electronics by 453.8% in the first quarter. Wellington Shields Capital Management LLC now owns 39,600 shares of the technology company’s stock worth $2,713,000 after buying an additional 32,450 shares during the period. Great West Life Assurance Co. Can raised its position in Universal Electronics by 2.6% in the first quarter. Great West Life Assurance Co. Can now owns 20,215 shares of the technology company’s stock worth $1,383,000 after buying an additional 517 shares during the period. Wells Fargo & Company MN raised its position in Universal Electronics by 32.8% in the first quarter. Wells Fargo & Company MN now owns 173,427 shares of the technology company’s stock worth $11,880,000 after buying an additional 42,878 shares during the period. Granite Investment Partners LLC raised its position in Universal Electronics by 9.9% in the first quarter. Granite Investment Partners LLC now owns 187,145 shares of the technology company’s stock worth $12,819,000 after buying an additional 16,846 shares during the period. Finally, First Mercantile Trust Co. raised 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 period. Institutional investors own 92.73% 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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