Posted by admin on May 18th, 2022
Universal Electronics (NASDAQ:UEIC – Get Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday, Zacks.com reports.
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. “
A number of other research firms also recently commented on UEIC. StockNews.com downgraded shares of Universal Electronics from a “buy” rating to a “hold” rating in a research note on Thursday, May 12th. TheStreet downgraded shares of Universal Electronics from a “c” rating to a “d+” rating in a research note on Thursday, May 5th. Finally, B. Riley reduced their price objective on shares of Universal Electronics from $62.00 to $53.00 in a research note on Friday, February 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Universal Electronics currently has an average rating of “Hold” and a consensus price target of $64.33.
NASDAQ UEIC traded down $0.40 on Wednesday, reaching $27.54. The company had a trading volume of 899 shares, compared to its average volume of 48,442. The firm has a market capitalization of $347.83 million, a price-to-earnings ratio of -70.61 and a beta of 1.10. Universal Electronics has a 1-year low of $26.09 and a 1-year high of $53.07. The company’s fifty day moving average is $30.40 and its 200-day moving average is $34.84.
Universal Electronics (NASDAQ:UEIC – Get Rating) last posted its quarterly earnings data on Thursday, May 5th. The technology company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.15). Universal Electronics had a negative return on equity of 1.60% and a negative net margin of 0.79%. The business had revenue of $132.41 million for the quarter, compared to analyst estimates of $135.06 million. Research analysts anticipate that Universal Electronics will post 0.51 earnings per share for the current year.
In other news, Director William C. Mulligan bought 6,500 shares of the company’s stock in a transaction dated Tuesday, February 22nd. The shares were bought at an average cost of $31.84 per share, with a total value of $206,960.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 7.80% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Lindbrook Capital LLC bought a new position in Universal Electronics in the 4th quarter valued at about $80,000. SG Americas Securities LLC raised its holdings in Universal Electronics by 24.7% in the 1st quarter. SG Americas Securities LLC now owns 5,251 shares of the technology company’s stock valued at $164,000 after acquiring an additional 1,040 shares during the period. MetLife Investment Management LLC raised its holdings in Universal Electronics by 59.9% in the 1st quarter. MetLife Investment Management LLC now owns 7,056 shares of the technology company’s stock valued at $220,000 after acquiring an additional 2,644 shares during the period. Canada Pension Plan Investment Board bought a new position in Universal Electronics in the 4th quarter valued at about $224,000. Finally, Everence Capital Management Inc. bought a new position in Universal Electronics in the 4th quarter valued at about $237,000. 87.74% of the stock is currently owned by hedge funds and other institutional investors.
About Universal Electronics (Get Rating)
Universal Electronics Inc designs, develops, manufactures, and sells pre-programmed and universal control products, audio-video (AV) accessories, and intelligent wireless security and smart home products for video services, consumer electronics, security, home automation, climate control, and home appliance markets.
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