Universal Electronics Inc. (NASDAQ:UEIC) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Saturday.

UEIC has been the topic of several other reports. Lake Street Capital downgraded Universal Electronics from a “buy” rating to a “hold” rating and set a $71.00 target price on the stock. in a research report on Friday, May 5th. Zacks Investment Research downgraded Universal Electronics from a “buy” rating to a “hold” rating in a research report on Thursday, April 20th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $77.00 price target on shares of Universal Electronics in a research report on Monday, May 15th. 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $74.06.

Shares of Universal Electronics (UEIC) opened at 58.20 on Friday. The company has a 50 day moving average price of $66.54 and a 200 day moving average price of $66.28. Universal Electronics has a one year low of $52.90 and a one year high of $80.42. The company has a market cap of $838.14 million, a price-to-earnings ratio of 53.84 and a beta of 1.65.

Universal Electronics (NASDAQ:UEIC) last released its earnings results on Thursday, August 3rd. The technology company reported $0.78 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.78. Universal Electronics had a return on equity of 11.97% and a net margin of 2.37%. The firm had revenue of $177.58 million for the quarter, compared to the consensus estimate of $176.12 million. During the same period in the prior year, the firm earned $0.74 EPS. The firm’s revenue was up 3.9% on a year-over-year basis. Equities analysts predict that Universal Electronics will post $3.14 EPS for the current year.

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A number of large investors have recently made changes to their positions in the company. BlackRock Inc. increased its stake 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 valued at $116,813,000 after buying an additional 1,704,168 shares in the last quarter. William Blair Investment Management LLC increased its stake in shares of Universal Electronics by 20.1% in the second quarter. William Blair Investment Management LLC now owns 1,599,417 shares of the technology company’s stock valued at $106,921,000 after buying an additional 267,722 shares in the last quarter. Northpointe Capital LLC bought a new stake in shares of Universal Electronics during the second quarter valued at $6,270,000. Kennedy Capital Management Inc. increased its stake in shares of Universal Electronics by 69.4% in the first quarter. Kennedy Capital Management Inc. now owns 196,649 shares of the technology company’s stock valued at $13,470,000 after buying an additional 80,546 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Universal Electronics by 32.8% in the first quarter. Wells Fargo & Company MN now owns 173,427 shares of the technology company’s stock valued at $11,880,000 after buying an additional 42,878 shares in the last quarter. 91.85% of the stock is currently owned by institutional investors.

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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