Zacks Investment Research Lowers Universal Electronics Inc. (UEIC) to Strong Sell
Zacks Investment Research cut shares of Universal Electronics Inc. (NASDAQ:UEIC) from a hold rating to a strong sell rating in a report published on Thursday.
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. “
UEIC has been the subject of a number of other research reports. BidaskClub downgraded shares of Universal Electronics from a buy rating to a hold rating in a research report on Tuesday, July 25th. Piper Jaffray Companies cut their target price on shares of Universal Electronics to $70.00 and set an overweight rating for the company in a research report on Friday, November 3rd. 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 set a $77.00 target price on shares of Universal Electronics and gave the stock a buy rating in a research report on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Universal Electronics has an average rating of Hold and an average target price of $72.75.
Shares of Universal Electronics (UEIC) traded down $0.25 on Thursday, hitting $51.25. 64,500 shares of the company traded hands, compared to its average volume of 91,191. The company has a market capitalization of $733.18, a P/E ratio of 23.73, a P/E/G ratio of 1.39 and a beta of 1.59. The company has a quick ratio of 0.80, a current ratio of 1.34 and a debt-to-equity ratio of 0.05. Universal Electronics has a 12 month low of $48.50 and a 12 month high of $74.85.
Universal Electronics (NASDAQ:UEIC) last announced its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.81 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.04). Universal Electronics had a net margin of 1.45% and a return on equity of 11.27%. The firm had revenue of $175.51 million for the quarter, compared to the consensus estimate of $182.53 million. During the same period last year, the business earned $0.93 EPS. Universal Electronics’s revenue was up 3.0% on a year-over-year basis. equities analysts predict that Universal Electronics will post 2.11 earnings per share for the current fiscal year.
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In other Universal Electronics news, 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, for a total transaction of $279,550.00. Following the purchase, the director now directly owns 17,966 shares of the company’s stock, valued at approximately $1,004,479.06. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gregory Stapleton sold 10,000 shares of Universal Electronics 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 transaction, the director now owns 35,726 shares in the company, valued at approximately $2,154,635.06. The disclosure for this sale can be found here. Insiders own 5.82% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Hartland & Co. LLC boosted its stake in shares of Universal Electronics by 41.7% during 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 during the last quarter. Citadel Advisors LLC boosted its stake in shares of Universal Electronics by 110.3% during the 3rd quarter. Citadel Advisors LLC now owns 10,609 shares of the technology company’s stock worth $673,000 after acquiring an additional 5,564 shares during the last quarter. Granite Investment Partners LLC boosted its stake in shares of Universal Electronics by 42.3% during the 3rd quarter. Granite Investment Partners LLC now owns 272,897 shares of the technology company’s stock worth $17,301,000 after acquiring an additional 81,091 shares during the last quarter. Cortina Asset Management LLC boosted its stake in shares of Universal Electronics by 14.5% during the 3rd quarter. Cortina Asset Management LLC now owns 119,368 shares of the technology company’s stock worth $7,568,000 after acquiring an additional 15,143 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Universal Electronics by 0.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 184,108 shares of the technology company’s stock worth $11,672,000 after acquiring an additional 1,315 shares during the last quarter. Institutional investors and hedge funds 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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