Universal Electronics (UEIC) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Universal Electronics (NASDAQ:UEIC) from a strong sell rating to a hold rating in a report issued on Friday morning.

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 several other research reports. BidaskClub upgraded Universal Electronics from a strong sell rating to a sell rating in a report on Wednesday, January 2nd. B. Riley upgraded Universal Electronics from a neutral rating to a buy rating and set a $42.00 price target on the stock in a report on Friday, November 9th. Sidoti upgraded Universal Electronics from a neutral rating to a buy rating in a report on Wednesday, November 14th. Finally, ValuEngine lowered Universal Electronics from a hold rating to a sell rating in a report on Monday, December 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $43.00.

NASDAQ UEIC opened at $30.19 on Friday. Universal Electronics has a 52 week low of $23.29 and a 52 week high of $55.90. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.87 and a current ratio of 1.37. The firm has a market cap of $405.19 million, a PE ratio of 10.74, a P/E/G ratio of 1.37 and a beta of 1.60.

Universal Electronics (NASDAQ:UEIC) last posted its quarterly earnings results on Thursday, November 8th. The technology company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.36 by $0.33. Universal Electronics had a return on equity of 11.88% and a net margin of 0.89%. The business had revenue of $182.72 million for the quarter, compared to analyst estimates of $184.11 million. Sell-side analysts expect that Universal Electronics will post -0.34 earnings per share for the current fiscal year.

In related news, insider David Cheung Hyen Chong sold 1,523 shares of the business’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $35.00, for a total value of $53,305.00. Following the sale, the insider now directly owns 25,836 shares in the company, valued at approximately $904,260. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.97% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of UEIC. Engaged Capital LLC purchased a new stake in Universal Electronics in the 2nd quarter valued at about $8,318,000. Investment Counselors of Maryland LLC increased its stake in 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 during the period. BlackRock Inc. increased its stake in Universal Electronics by 8.0% during the second quarter. BlackRock Inc. now owns 1,959,067 shares of the technology company’s stock worth $64,749,000 after purchasing an additional 144,305 shares during the period. Dimensional Fund Advisors LP increased its stake in 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 during the period. Finally, William Blair Investment Management LLC increased its stake in Universal Electronics by 7.3% during the third quarter. William Blair Investment Management LLC now owns 1,887,302 shares of the technology company’s stock worth $74,265,000 after purchasing an additional 128,384 shares during the period.

Universal Electronics Company Profile

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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