Universal Electronics (UEIC) Upgraded to Hold at Zacks Investment Research


Zacks Investment Research upgraded shares of Universal Electronics (NASDAQ:UEIC) from a sell rating to a hold rating in a report released on Saturday.

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. “


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Other equities analysts have also recently issued reports about the stock. TheStreet cut shares of Universal Electronics from a c- rating to a d+ rating in a research note on Monday, June 4th. ValuEngine cut shares of Universal Electronics from a sell rating to a strong sell rating in a research note on Friday, May 4th. BidaskClub cut shares of Universal Electronics from a sell rating to a strong sell rating in a research note on Thursday, April 12th. Piper Jaffray Companies cut shares of Universal Electronics from an overweight rating to a neutral rating in a research note on Friday, May 4th. Finally, B. Riley cut shares of Universal Electronics from a buy rating to a neutral rating and cut their target price for the company from $75.00 to $46.00 in a research note on Friday, May 4th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The company currently has an average rating of Hold and a consensus target price of $63.00.


Shares of Universal Electronics opened at $34.65 on Friday, MarketBeat.com reports. The company has a quick ratio of 0.80, a current ratio of 1.24 and a debt-to-equity ratio of 0.04. Universal Electronics has a 1-year low of $26.97 and a 1-year high of $72.50. The firm has a market capitalization of $482.39 million, a PE ratio of 12.33, a PEG ratio of 4.95 and a beta of 1.13.

Universal Electronics (NASDAQ:UEIC) last released its earnings results on Thursday, May 3rd. The technology company reported $0.62 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.02). The company had revenue of $164.70 million for the quarter, compared to analyst estimates of $172.68 million. Universal Electronics had a negative net margin of 1.58% and a positive return on equity of 9.08%. analysts anticipate that Universal Electronics will post 0.46 EPS for the current year.


In related news, insider Menno Koopmans sold 1,000 shares of the company’s stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $30.30, for a total transaction of $30,300.00. Following the completion of the transaction, the insider now directly owns 1,633 shares in the company, valued at approximately $49,479.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP David Cheung Hyen Chong bought 3,095 shares of the business’s stock in a transaction that occurred on Tuesday, May 15th. The shares were bought at an average price of $28.93 per share, with a total value of $89,538.35. Following the completion of the purchase, the executive vice president now owns 29,442 shares in the company, valued at $851,757.06. The disclosure for this purchase can be found here. 5.97% of the stock is owned by corporate insiders.


Hedge funds have recently made changes to their positions in the company. Teacher Retirement System of Texas acquired a new position in shares of Universal Electronics in the 4th quarter valued at $235,000. Wrapmanager Inc. acquired a new position in shares of Universal Electronics in the 1st quarter valued at $255,000. MetLife Investment Advisors LLC acquired a new position in shares of Universal Electronics in the 4th quarter valued at $285,000. FDx Advisors Inc. acquired a new position in shares of Universal Electronics in the 1st quarter valued at $295,000. Finally, Millennium Management LLC acquired a new position in shares of Universal Electronics in the 4th quarter valued at $324,000. Institutional investors own 95.99% of the company’s stock.


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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