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

Zacks Investment Research lowered shares of Universal Electronics Inc (NASDAQ:UEIC) from a buy rating to a hold rating in a research note issued to investors on Thursday.

According to Zacks, “Universal Electronics Inc. develops software, and builds and markets pre-programmed, easy-to-use wireless control devices and chips principally for home entertainment equipment and the subscription broadcast market. The company’s product lines under development include wireless interface technologies, such as combination keyboard/remotes and touch-screen remotes. The company licenses its patented technologies and database of infrared codes to companies selling into the cable and satellite industries, and to original equipment manufacturers. (PRESS RELEASE) “

Several other equities analysts have also weighed in on the stock. TheStreet upgraded shares of Universal Electronics from a c+ rating to a b- rating in a research report on Thursday, March 16th. B. Riley restated a buy rating and set a $77.25 price target on shares of Universal Electronics in a research report on Wednesday, March 22nd. Finally, Lake Street Capital reduced their price target on shares of Universal Electronics from $78.00 to $71.00 and set a buy rating for the company in a research report on Friday, February 17th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Universal Electronics presently has a consensus rating of Buy and a consensus target price of $76.31.

Universal Electronics (NASDAQ:UEIC) traded down 0.36% on Thursday, reaching $69.70. 30,787 shares of the company were exchanged. The company’s 50-day moving average price is $67.30 and its 200-day moving average price is $67.05. The stock has a market capitalization of $1.00 billion, a P/E ratio of 50.51 and a beta of 1.78. Universal Electronics has a 12-month low of $52.90 and a 12-month high of $80.42.

Universal Electronics (NASDAQ:UEIC) last posted its quarterly earnings results on Thursday, February 16th. The technology company reported $0.70 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.70. The company earned $160.10 million during the quarter, compared to analyst estimates of $164.41 million. Universal Electronics had a net margin of 4.05% and a return on equity of 16.85%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 earnings per share. Equities research analysts anticipate that Universal Electronics will post $3.58 earnings per share for the current fiscal year.

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Institutional investors have recently bought and sold shares of the stock. William Blair Investment Management LLC raised its position in Universal Electronics by 42.5% in the fourth quarter. William Blair Investment Management LLC now owns 1,294,201 shares of the technology company’s stock valued at $83,541,000 after buying an additional 386,192 shares during the last quarter. BlackRock Fund Advisors raised its position in Universal Electronics by 8.0% in the third quarter. BlackRock Fund Advisors now owns 992,691 shares of the technology company’s stock valued at $73,916,000 after buying an additional 73,391 shares during the last quarter. Wellington Shields & Co. LLC raised its position in Universal Electronics by 18.4% in the third quarter. Wellington Shields & Co. LLC now owns 359,455 shares of the technology company’s stock valued at $26,765,000 after buying an additional 55,888 shares during the last quarter. Cortina Asset Management LLC raised its position in Universal Electronics by 58.4% in the fourth quarter. Cortina Asset Management LLC now owns 130,079 shares of the technology company’s stock valued at $8,397,000 after buying an additional 47,972 shares during the last quarter. Finally, NWQ Investment Management Company LLC raised its position in Universal Electronics by 15.0% in the fourth quarter. NWQ Investment Management Company LLC now owns 262,268 shares of the technology company’s stock valued at $16,929,000 after buying an additional 34,204 shares during the last quarter. Institutional investors own 90.71% 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.

5 Day Chart for NASDAQ:UEIC

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