Zacks Investment Research cut shares of Universal Electronics Inc. (NASDAQ:UEIC) from a hold rating to a strong sell rating in a research note issued to investors on Thursday, November 9th.
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. “
Other analysts also recently issued research reports about the company. B. Riley reissued a buy rating and set a $77.25 target price on shares of Universal Electronics in a research note on Monday, July 31st. BidaskClub cut Universal Electronics from a sell rating to a strong sell rating in a report on Saturday, August 12th. ValuEngine upgraded Universal Electronics from a sell rating to a hold rating in a report on Tuesday, August 22nd. Finally, Piper Jaffray Companies cut their price target on Universal Electronics to $70.00 and set an overweight rating for the company in a report on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Universal Electronics currently has an average rating of Hold and a consensus price target of $72.75.
Universal Electronics (NASDAQ:UEIC) opened at $52.55 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.34 and a quick ratio of 0.80. Universal Electronics has a 1-year low of $48.50 and a 1-year high of $74.85. The firm has a market capitalization of $751.77, a PE ratio of 23.47, a price-to-earnings-growth ratio of 1.37 and a beta of 1.59.
Universal Electronics (NASDAQ:UEIC) last posted its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.04). Universal Electronics had a return on equity of 2.44% and a net margin of 0.98%. The company had revenue of $175.51 million during the quarter, compared to the consensus estimate of $182.53 million. During the same period last year, the business earned $0.93 EPS. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. equities research analysts forecast that Universal Electronics will post 2.11 EPS for the current year.
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In related news, Director Gregory Stapleton sold 10,000 shares of the business’s 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 transaction, the director now owns 35,726 shares in the company, valued at approximately $2,154,635.06. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William C. Mulligan bought 5,000 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were purchased at an average cost of $55.91 per share, with a total value of $279,550.00. Following the completion of the transaction, the director now owns 17,966 shares in the company, valued at $1,004,479.06. The disclosure for this purchase can be found here. 5.82% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC raised its position in shares of Universal Electronics by 77.3% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 145,204 shares of the technology company’s stock worth $9,206,000 after acquiring an additional 63,297 shares in the last quarter. Formula Growth Ltd. raised its position in shares of Universal Electronics by 21.7% in the 3rd quarter. Formula Growth Ltd. now owns 28,000 shares of the technology company’s stock worth $1,775,000 after acquiring an additional 5,000 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Universal Electronics by 0.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 597,067 shares of the technology company’s stock worth $37,854,000 after acquiring an additional 5,030 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Universal Electronics by 21.1% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 82,216 shares of the technology company’s stock worth $5,213,000 after acquiring an additional 14,352 shares in the last quarter. Finally, Hartland & Co. LLC raised its position in shares of Universal Electronics by 41.7% in the 3rd quarter. Hartland & Co. LLC now owns 21,245 shares of the technology company’s stock worth $1,347,000 after acquiring an additional 6,250 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other 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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