BidaskClub downgraded shares of Universal Electronics Inc. (NASDAQ:UEIC) from a buy rating to a hold rating in a report released on Tuesday, July 25th.
A number of other brokerages also recently weighed in on UEIC. Zacks Investment Research downgraded shares of Universal Electronics from a hold rating to a sell rating in a research report on Thursday, May 4th. B. Riley reiterated a buy rating and issued a $77.25 price objective on shares of Universal Electronics in a research report on Friday, May 5th. Lake Street Capital downgraded shares of Universal Electronics from a buy rating to a hold rating and set a $71.00 price objective for the company. in a research report on Friday, May 5th. Finally, Piper Jaffray Companies reiterated a buy rating and issued a $77.00 price objective on shares of Universal Electronics in a research report on Friday, May 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Universal Electronics currently has an average rating of Hold and a consensus target price of $74.06.
Shares of Universal Electronics (NASDAQ UEIC) traded down 0.96% during trading on Tuesday, hitting $62.00. The stock had a trading volume of 30,644 shares. The firm has a 50-day moving average price of $67.54 and a 200 day moving average price of $66.48. Universal Electronics has a 52 week low of $52.90 and a 52 week high of $80.42. The company has a market capitalization of $894.78 million, a PE ratio of 51.67 and a beta of 1.65.
Universal Electronics (NASDAQ:UEIC) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.78 EPS for the quarter, meeting the consensus estimate of $0.78. Universal Electronics had a net margin of 2.37% and a return on equity of 11.97%. The company had revenue of $177.58 million for the quarter, compared to analyst estimates of $176.12 million. During the same period in the prior year, the company earned $0.74 earnings per share. The firm’s revenue was up 3.9% on a year-over-year basis. Equities analysts anticipate that Universal Electronics will post $3.08 earnings per share for the current year.
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A number of hedge funds have recently added to or reduced their stakes in UEIC. Wells Fargo & Company MN increased its stake in Universal Electronics by 32.8% in the first quarter. Wells Fargo & Company MN now owns 173,427 shares of the technology company’s stock worth $11,880,000 after buying an additional 42,878 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Universal Electronics by 13.4% in the first quarter. Ameriprise Financial Inc. now owns 95,130 shares of the technology company’s stock valued at $6,516,000 after buying an additional 11,210 shares during the period. BlackRock Inc. boosted its stake 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 valued at $116,813,000 after buying an additional 1,704,168 shares during the period. Guggenheim Capital LLC purchased a new stake in Universal Electronics during the fourth quarter valued at $1,061,000. Finally, William Blair Investment Management LLC boosted its stake in Universal Electronics by 2.9% in the first quarter. William Blair Investment Management LLC now owns 1,331,695 shares of the technology company’s stock valued at $91,221,000 after buying an additional 37,494 shares during the period. Institutional investors own 91.85% of the company’s stock.
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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