Universal Electronics Inc. (UEIC) Lowered to “Strong Sell” at Zacks Investment Research
Zacks Investment Research downgraded shares of Universal Electronics Inc. (NASDAQ:UEIC) from a hold rating to a strong sell rating in a research report sent to investors on Thursday morning.
According to Zacks, “Universal Electronics Inc. is the worldwide leader in universal control and sensing technologies for the smart home. The company designs, develops, manufactures and ships over 500 innovative products that are used by the world’s leading brands in the audio video, subscription broadcasting, connected home, tablet and smart phone markets. 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 serves cable and satellite television service providers; original equipment manufacturers; software development companies; subscription broadcasting providers. “
Several other equities research analysts have also weighed in on the company. BidaskClub lowered Universal Electronics from a buy rating to a hold rating in a report on Tuesday, July 25th. ValuEngine raised Universal Electronics from a sell rating to a hold rating in a report on Tuesday, August 22nd. Piper Jaffray Companies decreased their price objective on Universal Electronics to $70.00 and set an overweight rating for the company in a report on Friday, November 3rd. Finally, B. Riley set a $77.00 price objective on Universal Electronics and gave the stock a buy rating in a report on Tuesday, October 31st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $72.75.
Shares of Universal Electronics (NASDAQ UEIC) traded down $0.25 during trading on Thursday, hitting $51.25. The stock had a trading volume of 63,483 shares, compared to its average volume of 66,406. Universal Electronics has a 1 year low of $48.50 and a 1 year high of $74.85. The stock has a market cap of $747.43, a price-to-earnings ratio of 24.03, a PEG ratio of 1.41 and a beta of 1.59. The company has a current ratio of 1.34, a quick ratio of 0.80 and a debt-to-equity ratio of 0.05.
Universal Electronics (NASDAQ:UEIC) last announced its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.04). Universal Electronics had a return on equity of 11.27% and a net margin of 1.45%. The firm had revenue of $175.51 million during the quarter, compared to analysts’ expectations of $182.53 million. During the same period last year, the business posted $0.93 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. equities analysts forecast that Universal Electronics will post 2.11 EPS for the current fiscal year.
In other news, Director Gregory Stapleton sold 10,000 shares of Universal Electronics stock in a transaction dated 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 owns 35,726 shares in the company, valued at approximately $2,154,635.06. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William C. Mulligan purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were acquired at an average price of $55.91 per share, with a total value of $279,550.00. Following the transaction, the director now owns 17,966 shares in the company, valued at approximately $1,004,479.06. The disclosure for this purchase can be found here. 5.82% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of UEIC. BlackRock Inc. boosted its position in shares of Universal Electronics by 151,751.4% during the 1st quarter. BlackRock Inc. now owns 1,705,291 shares of the technology company’s stock valued at $116,813,000 after acquiring an additional 1,704,168 shares during the last quarter. William Blair Investment Management LLC boosted its position in shares of Universal Electronics by 20.1% during the 2nd quarter. William Blair Investment Management LLC now owns 1,599,417 shares of the technology company’s stock valued at $106,921,000 after acquiring an additional 267,722 shares during the last quarter. Northpointe Capital LLC bought a new stake in shares of Universal Electronics during the 2nd quarter valued at about $6,270,000. Granite Investment Partners LLC lifted its position in Universal Electronics by 42.3% in the 3rd quarter. Granite Investment Partners LLC now owns 272,897 shares of the technology company’s stock worth $17,301,000 after buying an additional 81,091 shares during the last quarter. Finally, Kennedy Capital Management Inc. lifted its position in Universal Electronics by 23.8% in the 2nd quarter. Kennedy Capital Management Inc. now owns 243,487 shares of the technology company’s stock worth $16,277,000 after buying an additional 46,838 shares during the last quarter. Hedge funds and other institutional investors own 95.34% 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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