StockNews.com Lowers Universal Electronics (NASDAQ:UEIC) to Hold

StockNews.com cut shares of Universal Electronics (NASDAQ:UEIC) from a buy rating to a hold rating in a research note released on Wednesday morning.

Universal Electronics Price Performance

Shares of NASDAQ UEIC opened at $9.29 on Wednesday. The stock has a market capitalization of $120.58 million, a P/E ratio of -2.63 and a beta of 1.14. The company has a 50-day moving average price of $10.25 and a 200-day moving average price of $10.56. Universal Electronics has a 1 year low of $7.02 and a 1 year high of $14.20.

Universal Electronics (NASDAQ:UEIC) last issued its quarterly earnings data on Thursday, August 8th. The technology company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The business had revenue of $90.45 million for the quarter, compared to analyst estimates of $94.86 million. Universal Electronics had a negative net margin of 11.19% and a negative return on equity of 19.41%. As a group, equities research analysts anticipate that Universal Electronics will post -0.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in UEIC. First Eagle Investment Management LLC grew its holdings in shares of Universal Electronics by 26.7% during the fourth quarter. First Eagle Investment Management LLC now owns 196,079 shares of the technology company’s stock valued at $1,841,000 after buying an additional 41,352 shares during the last quarter. Trexquant Investment LP lifted its position in shares of Universal Electronics by 7.1% during the fourth quarter. Trexquant Investment LP now owns 58,135 shares of the technology company’s stock valued at $546,000 after purchasing an additional 3,873 shares in the last quarter. Pacific Ridge Capital Partners LLC lifted its position in shares of Universal Electronics by 15.2% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 380,573 shares of the technology company’s stock valued at $3,574,000 after purchasing an additional 50,117 shares in the last quarter. Quadrature Capital Ltd lifted its position in shares of Universal Electronics by 4.9% during the fourth quarter. Quadrature Capital Ltd now owns 41,085 shares of the technology company’s stock valued at $387,000 after purchasing an additional 1,936 shares in the last quarter. Finally, Howland Capital Management LLC lifted its position in shares of Universal Electronics by 56.6% during the first quarter. Howland Capital Management LLC now owns 32,942 shares of the technology company’s stock valued at $330,000 after purchasing an additional 11,900 shares in the last quarter. 79.35% of the stock is currently owned by institutional investors and hedge funds.

About Universal Electronics

Universal Electronics Inc designs, develops, manufactures, ships, and supports control and sensor technology solutions in the United States, the People's Republic of China, rest of Asia, Europe, Latin America, and internationally. The company offers voice-enabled automatically-programmed universal two-way radio frequency, as well as infrared remote controls to video service providers, original equipment manufacturers (OEMs), retailers, and private label customers; wall-mount and handheld thermostat controllers and connected accessories for smart energy management systems to OEM customers, hotels, hospitality, and system integrators; proprietary and standards-based RF sensors for residential security, safety, and home automation applications; and integrated circuits on which its software and universal device control database is embedded to OEMs, video service providers, and private label customers.