Zacks Investment Research downgraded shares of Universal Electronics Inc. (NASDAQ:UEIC) from a strong-buy rating to a hold rating in a research report released on Thursday morning.
According to Zacks, “Universal Electronics Inc. is the worldwide leader in universal control and sensing technologies for the smart home. 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 also provides proprietary and standards-based RF sensors for residential security, safety, and automation applications; and audio-video accessories, trademarks, and database of home connectivity software and control codes. It serves cable and satellite television service providers; original equipment manufacturers; software development companies; subscription broadcasting providers. “
UEIC has been the topic of several other reports. BidaskClub downgraded shares of Universal Electronics from a buy rating to a hold rating in a research note on Tuesday, July 25th. ValuEngine upgraded shares of Universal Electronics from a sell rating to a hold rating in a report on Tuesday, August 22nd. Finally, B. Riley restated a buy rating and set a $77.25 price target on shares of Universal Electronics in a report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $74.56.
Universal Electronics (UEIC) traded down 0.23% during midday trading on Thursday, hitting $65.00. The stock had a trading volume of 45,534 shares. The stock has a market cap of $936.07 million, a PE ratio of 60.13 and a beta of 1.62. Universal Electronics has a one year low of $52.90 and a one year high of $74.85. The firm has a 50 day moving average price of $59.80 and a 200 day moving average price of $64.60.
Universal Electronics (NASDAQ:UEIC) last announced 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 net margin of 2.37% and a return on equity of 11.97%. The company had revenue of $177.58 million for the quarter, compared to the consensus estimate of $176.12 million. During the same period in the previous year, the business earned $0.74 EPS. The company’s revenue was up 3.9% on a year-over-year basis. Equities analysts expect that Universal Electronics will post $3.14 EPS for the current year.
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In other news, Director Gregory Stapleton sold 10,000 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $60.31, for a total transaction of $603,100.00. Following the transaction, the director now directly owns 35,726 shares in the company, valued at approximately $2,154,635.06. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director William C. Mulligan purchased 5,000 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were bought at an average price of $55.91 per share, for a total transaction of $279,550.00. Following the completion of the acquisition, 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. Insiders own 5.82% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. grew its holdings in shares of Universal Electronics by 23.8% during the 1st quarter. Victory Capital Management Inc. now owns 1,667 shares of the technology company’s stock valued at $114,000 after acquiring an additional 321 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Universal Electronics by 79.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 2,858 shares of the technology company’s stock valued at $191,000 after acquiring an additional 1,268 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of Universal Electronics during the 2nd quarter valued at $209,000. Mason Street Advisors LLC grew its holdings in shares of Universal Electronics by 6.3% during the 1st quarter. Mason Street Advisors LLC now owns 3,384 shares of the technology company’s stock valued at $232,000 after acquiring an additional 200 shares in the last quarter. Finally, Invictus RG purchased a new position in shares of Universal Electronics during the 1st quarter valued at $236,000. Institutional investors and hedge funds own 95.49% of the company’s stock.
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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