Universal Electronics (UEIC) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Universal Electronics (NASDAQ:UEIC) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

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 a number of other reports. BidaskClub lowered shares of Universal Electronics from a hold rating to a sell rating in a research report on Thursday, October 11th. ValuEngine upgraded shares of Universal Electronics from a sell rating to a hold rating in a research report on Thursday, August 2nd. Sidoti lowered shares of Universal Electronics from a buy rating to a neutral rating and set a $44.00 price target on the stock. in a research report on Tuesday, September 4th. TheStreet upgraded shares of Universal Electronics from a d+ rating to a c rating in a research report on Friday, August 3rd. Finally, B. Riley set a $42.00 price target on shares of Universal Electronics and gave the company a hold rating in a research report on Friday, August 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $43.00.

Shares of Universal Electronics stock traded up $5.13 during trading on Wednesday, hitting $36.80. 322,876 shares of the company’s stock traded hands, compared to its average volume of 84,372. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.84 and a current ratio of 1.33. Universal Electronics has a twelve month low of $26.97 and a twelve month high of $56.35. The firm has a market cap of $453.79 million, a P/E ratio of 11.05, a price-to-earnings-growth ratio of 10.94 and a beta of 1.32.

Universal Electronics (NASDAQ:UEIC) last issued its earnings results on Thursday, November 8th. The technology company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.33. The business had revenue of $182.72 million for the quarter, compared to analyst estimates of $184.11 million. Universal Electronics had a net margin of 1.02% and a return on equity of 15.77%. On average, equities analysts forecast that Universal Electronics will post 0.2 earnings per share for the current fiscal year.

In other Universal Electronics news, insider Richard A. Firehammer, Jr. sold 4,032 shares of the business’s stock in a transaction dated Tuesday, September 25th. The shares were sold at an average price of $40.07, for a total value of $161,562.24. Following the transaction, the insider now directly owns 4,032 shares in the company, valued at $161,562.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. 5.97% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Universal Electronics by 2.5% during the third quarter. BlackRock Inc. now owns 2,008,120 shares of the technology company’s stock worth $79,019,000 after purchasing an additional 49,053 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Universal Electronics by 19.1% during the second quarter. Dimensional Fund Advisors LP now owns 843,283 shares of the technology company’s stock worth $27,871,000 after purchasing an additional 135,359 shares in the last quarter. Frontier Capital Management Co. LLC lifted its position in shares of Universal Electronics by 12.6% during the second quarter. Frontier Capital Management Co. LLC now owns 602,486 shares of the technology company’s stock worth $19,912,000 after purchasing an additional 67,267 shares in the last quarter. Investment Counselors of Maryland LLC lifted its position in shares of Universal Electronics by 129.4% during the third quarter. Investment Counselors of Maryland LLC now owns 363,790 shares of the technology company’s stock worth $14,315,000 after purchasing an additional 205,222 shares in the last quarter. Finally, Engaged Capital LLC acquired a new position in shares of Universal Electronics during the second quarter worth approximately $8,318,000.

About Universal Electronics

Universal Electronics Inc develops and manufactures pre-programmed and universal control products, audio-video (AV) accessories, software and intelligent wireless security products, and sensing and automation components for home entertainment and automation systems. The company 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 that enable devices, including televisions, set-top boxes, audio systems, smartphones, tablets, game controllers, and other consumer electronic devices to wirelessly connect and interact with home networks, as well as interactive services to control and deliver digital entertainment and information.

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