Universal Electronics (NASDAQ:UEIC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued 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 shares of Universal Electronics from a “c+” rating to a “b-” rating in a research report on Friday, December 11th.
UEIC stock opened at $57.75 on Tuesday. The company has a market capitalization of $794.06 million, a P/E ratio of 24.57, a PEG ratio of 1.23 and a beta of 1.27. The business has a 50 day simple moving average of $54.97 and a 200-day simple moving average of $46.72. Universal Electronics has a twelve month low of $29.50 and a twelve month high of $60.88.
Just $100 in Bitcoin in 2010 would have made you one of the richest people in America with a net worth of over $10 million today. And just recently, Bitcoin kicked off a huge new rally – up as high as 100% in the last two months alone. Now people are pouring into cryptos like we haven’t seen in years… but don’t do anything until you see this new warning.
In other news, Director Edward K. Zinser sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 25th. The shares were sold at an average price of $52.11, for a total transaction of $260,550.00. Following the transaction, 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 accessible through the SEC website. 7.09% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in UEIC. BlackRock Inc. grew its holdings in shares of Universal Electronics by 2.6% in the 4th quarter. BlackRock Inc. now owns 2,090,171 shares of the technology company’s stock worth $109,650,000 after acquiring an additional 53,664 shares during the period. Russell Investments Group Ltd. grew its holdings in Universal Electronics by 1,553.6% in the fourth quarter. Russell Investments Group Ltd. now owns 437,207 shares of the technology company’s stock valued at $22,929,000 after purchasing an additional 410,768 shares during the last quarter. Peregrine Capital Management LLC increased its position 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 valued at $17,000,000 after buying an additional 135,644 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Universal Electronics by 22.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 318,109 shares of the technology company’s stock worth $12,005,000 after buying an additional 58,189 shares during the last quarter. Finally, Segall Bryant & Hamill LLC boosted its position in shares of Universal Electronics by 17.8% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 145,775 shares of the technology company’s stock worth $5,502,000 after buying an additional 22,003 shares in the last quarter. 95.47% of the stock is currently owned by institutional investors and hedge funds.
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.
Recommended Story: Market Timing
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]
7 Cloud Computing Stocks to Lift Your Portfolio to New Heights
Cloud computing sounds complicated, and it has become more sophisticated as it evolves. However, the basic idea behind the cloud is the same. The “cloud” is a euphemistic term for the delivery of different services via the internet. In its early days, the cloud was used exclusively for data storage. Here’s an easy example of why this was important.
Back when the internet was cutting its teeth, I worked in marketing communications. The need to comply with Total Quality Control Systems (TQCS) for our largest clients meant we had to save every version of our files. Every. Single. One.
Now imagine that you’re producing a 120-page product catalog complete with photos and charts. Your hard drive is burning up just thinking about it. Yet that “data” had to be stored somewhere. And so we had a virtual server farm to try to warehouse all these graphic intensive (and memory sucking) files until we could archive them.
Other than the storage nightmare, consider that it was a pain to work remotely. You could copy a file from the server, but then were you working on the right file? I’m sure at least one person is reading this who remembers this pain.
The cloud takes that away. Cloud computing allows you to store files on a secure, remote server that everyone can access anywhere they have an internet connection. But it’s become so much more than that. Cloud computing now gives businesses a platform from which they can create applications and software. If that sounds confusing, I hope to simplify it in this presentation.
To help you understand which cloud computing stocks, you may want to add to your portfolio, and we’ve created this special presentation. These are seven of the cloud computing stocks that will continue to grow with the sector.
View the “7 Cloud Computing Stocks to Lift Your Portfolio to New Heights”.
