Universal Electronics (UEIC) Cut to Strong Sell at Zacks Investment Research

Zacks Investment Research cut shares of Universal Electronics (NASDAQ:UEIC) from a hold rating to a strong sell rating in a research report report published on Thursday, November 9th.

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. “

UEIC has been the topic of several other reports. BidaskClub lowered Universal Electronics from a sell rating to a strong sell rating in a research report on Saturday, August 12th. ValuEngine raised Universal Electronics from a sell rating to a hold rating in a research report on Tuesday, August 22nd. B. Riley reaffirmed a buy rating and issued a $77.25 target price on shares of Universal Electronics in a research report on Thursday, August 10th. Finally, Piper Jaffray Companies cut their price objective on Universal Electronics to $70.00 and set an overweight rating on the stock in a research report on Friday, November 3rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $72.75.

Shares of Universal Electronics (UEIC) traded down $0.05 during trading on Thursday, hitting $54.10. The company’s stock had a trading volume of 85,236 shares, compared to its average volume of 67,252. Universal Electronics has a one year low of $48.50 and a one year high of $74.85. The stock has a market cap of $782.53, a price-to-earnings ratio of 25.32, a PEG ratio of 1.73 and a beta of 1.59. The company has a current ratio of 1.34, a quick ratio of 0.80 and a debt-to-equity ratio of 0.05.

Universal Electronics (NASDAQ:UEIC) last issued its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Universal Electronics had a return on equity of 11.27% and a net margin of 1.45%. The business had revenue of $175.51 million for the quarter, compared to analysts’ expectations of $182.53 million. During the same period in the prior year, the company earned $0.93 EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. analysts forecast that Universal Electronics will post 2.11 EPS for the current fiscal year.

In related news, Director Gregory Stapleton sold 10,000 shares of Universal Electronics stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $60.31, for a total value of $603,100.00. Following the completion of the transaction, the director now directly owns 35,726 shares in the company, valued at $2,154,635.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.94% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of UEIC. BlackRock Inc. lifted its holdings in Universal Electronics by 151,751.4% in the first quarter. BlackRock Inc. now owns 1,705,291 shares of the technology company’s stock worth $116,813,000 after acquiring an additional 1,704,168 shares during the last quarter. William Blair Investment Management LLC raised its holdings in shares of Universal Electronics by 20.1% during the second quarter. William Blair Investment Management LLC now owns 1,599,417 shares of the technology company’s stock valued at $106,921,000 after buying an additional 267,722 shares during the last quarter. Northpointe Capital LLC bought a new stake in shares of Universal Electronics during the second quarter valued at approximately $6,270,000. Granite Investment Partners LLC raised its holdings in Universal Electronics by 42.3% during the third quarter. Granite Investment Partners LLC now owns 272,897 shares of the technology company’s stock worth $17,301,000 after purchasing an additional 81,091 shares in the last quarter. Finally, Segall Bryant & Hamill LLC raised its holdings in Universal Electronics by 77.3% during the third quarter. Segall Bryant & Hamill LLC now owns 145,204 shares of the technology company’s stock worth $9,206,000 after purchasing an additional 63,297 shares in the last quarter. 96.69% of the stock is currently owned by hedge funds and other institutional investors.

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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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