Universal Electronics (NASDAQ:UEIC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Saturday, Zacks.com reports.
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 research firms also recently commented on UEIC. ValuEngine raised shares of Universal Electronics from a “sell” rating to a “hold” rating in a research report on Monday, November 2nd. TheStreet upgraded shares of Universal Electronics from a “c+” rating to a “b-” rating in a report on Friday, December 11th. Finally, BidaskClub cut shares of Universal Electronics from a “buy” rating to a “hold” rating in a research note on Saturday, December 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $53.00.
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Shares of NASDAQ:UEIC traded down $0.38 during mid-day trading on Friday, reaching $52.82. 358,462 shares of the company’s stock were exchanged, compared to its average volume of 82,169. The firm has a market capitalization of $726.28 million, a price-to-earnings ratio of 25.03, a PEG ratio of 1.27 and a beta of 1.04. The business’s fifty day moving average price is $48.84 and its 200-day moving average price is $44.51. Universal Electronics has a twelve month low of $29.50 and a twelve month high of $56.99.
Universal Electronics (NASDAQ:UEIC) last announced its earnings results on Thursday, November 5th. The technology company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.17). Universal Electronics had a return on equity of 10.97% and a net margin of 4.40%. The firm had revenue of $153.51 million for the quarter, compared to the consensus estimate of $155.66 million. Sell-side analysts anticipate that Universal Electronics will post 2.01 EPS for the current fiscal year.
In other news, Director Edward K. Zinser sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 25th. The shares were sold at an average price of $52.11, for a total value of $260,550.00. Following the completion of the sale, the director now directly owns 22,500 shares of the company’s stock, valued at approximately $1,172,475. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 7.09% of the company’s stock.
Large investors have recently bought and sold shares of the company. Comerica Bank increased its stake in shares of Universal Electronics by 8.4% in the 2nd quarter. Comerica Bank now owns 14,659 shares of the technology company’s stock worth $711,000 after acquiring an additional 1,139 shares in the last quarter. Swiss National Bank increased its stake in Universal Electronics by 15.2% during the 2nd quarter. Swiss National Bank now owns 31,124 shares of the technology company’s stock valued at $1,457,000 after purchasing an additional 4,100 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Universal Electronics by 147.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 27,667 shares of the technology company’s stock valued at $1,284,000 after purchasing an additional 16,503 shares in the last quarter. Pacific Ridge Capital Partners LLC boosted its holdings in shares of Universal Electronics by 13.4% during the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 146,873 shares of the technology company’s stock valued at $6,877,000 after acquiring an additional 17,318 shares during the last quarter. Finally, Globeflex Capital L P boosted its holdings in shares of Universal Electronics by 7.4% during the 2nd quarter. Globeflex Capital L P now owns 31,477 shares of the technology company’s stock valued at $1,474,000 after acquiring an additional 2,157 shares during the last quarter.
Universal Electronics Company Profile
Universal Electronics Inc designs, develops, and manufactures pre-programmed and universal control products, audio-video (AV) accessories, and intelligent wireless security and smart home products for consumer electronics, subscription broadcasting, home entertainment, automation, security, and hospitality and climate control markets.
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