Universal Electronics (NASDAQ:UEIC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday, 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. “
Separately, TheStreet raised Universal Electronics from a “c+” rating to a “b-” rating in a research note on Friday, December 11th.
UEIC traded down $0.02 during midday trading on Tuesday, reaching $60.06. The company had a trading volume of 855 shares, compared to its average volume of 59,099. The business has a 50-day moving average of $54.50 and a two-hundred day moving average of $46.19. The company has a market cap of $825.83 million, a P/E ratio of 25.60, a P/E/G ratio of 1.23 and a beta of 1.27. Universal Electronics has a 1 year low of $29.50 and a 1 year high of $60.86.
Not only are investors capitalizing on a breakthrough AI distribution technology—they are realizing the full potential of their investments in a previously sidelined industry.
“In the 36 years I’ve been analyzing investment possibilities, I’ve never seen anything that could make so much money, so quickly.”” – legendary stock picker James Dale Davidson
Universal Electronics (NASDAQ:UEIC) last issued its quarterly earnings results on Thursday, November 5th. The technology company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.17). The company had revenue of $153.51 million during the quarter, compared to analysts’ expectations of $155.66 million. Universal Electronics had a return on equity of 11.87% and a net margin of 5.28%. Research analysts forecast that Universal Electronics will post 1.75 EPS for the current fiscal year.
In other news, Director Edward K. Zinser sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 25th. The stock was sold at an average price of $52.11, for a total value of $260,550.00. Following the completion of the transaction, the director now owns 22,500 shares of the company’s stock, valued at $1,172,475. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.09% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Peregrine Capital Management LLC boosted its stake in shares of Universal Electronics by 72.0% in the fourth quarter. Peregrine Capital Management LLC now owns 324,055 shares of the technology company’s stock worth $17,000,000 after acquiring an additional 135,644 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Universal Electronics by 22.4% during the third quarter. The Manufacturers Life Insurance Company now owns 318,109 shares of the technology company’s stock valued at $12,005,000 after buying an additional 58,189 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Universal Electronics by 6.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 178,087 shares of the technology company’s stock valued at $8,339,000 after buying an additional 10,349 shares during the last quarter. Segall Bryant & Hamill LLC boosted its stake in Universal Electronics by 17.8% during the third quarter. Segall Bryant & Hamill LLC now owns 145,775 shares of the technology company’s stock valued at $5,502,000 after buying an additional 22,003 shares during the last quarter. Finally, Foundry Partners LLC boosted its stake in Universal Electronics by 22.2% during the third quarter. Foundry Partners LLC now owns 99,810 shares of the technology company’s stock valued at $3,767,000 after buying an additional 18,150 shares during the last quarter. 95.47% of the stock is owned by hedge funds and other institutional investors.
About Universal Electronics
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.
See Also: What is the price-sales ratio?
Get a free copy of the Zacks research report on Universal Electronics (UEIC)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Best Growth Stocks – Best Stocks to Buy Now
The stock market has been growing since the New York Stock Exchange opened its doors in 1817. Sometimes, a stock will outpace the rest of the market in terms of growth. These skyrocketing securities—or the ones that analysts expect to skyrocket—are called growth stocks.
What Every Investor Needs to Know About Growth Stocks
Growth stocks are a great opportunity for an investor to make money in the stock market, but you’ve got to know what you’re going to buy or sell. A good understanding of growth stocks will help you get there.
At the beginning of a bull market, you can almost choose stocks randomly and find yourself a winner. Now that we are entering the current bull market’s ninth year, growth stocks have appreciated considerably. It’s becoming far more challenging to find stocks with real opportunities for appreciation.
Growth companies are still largely outperforming their value counterparts in the United States and the rest of the world largely because of low-interest rates, improved corporate earnings, and global economic growth. Over the last five years, the S&P 500 Growth Index has returned 14.22% per year. During the same time, the S&P 500 Value Index returned just 12.94%.
Now that the bull market is now nearly a decade old, stocks have become very expensive. Value investors are largely sitting on the sidelines, and growth investors have a hard time figuring out where the remaining growth opportunities exist.
If you are looking for growth stocks in an increasingly small field, we have identified the 10 best growth stocks to buy right now based on their expected earnings growth over the next several years. These companies are all growing rapidly and will likely see double-digit earnings growth next year.
