Universal Electronics Inc. (NASDAQ:UEIC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
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) “
Separately, B. Riley reiterated a “buy” rating and issued a $73.50 target price on shares of Universal Electronics in a research report on Saturday, November 12th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $74.92.
Universal Electronics (NASDAQ:UEIC) traded down 0.08% during midday trading on Wednesday, hitting $66.40. 12,286 shares of the stock traded hands. Universal Electronics has a 12 month low of $45.20 and a 12 month high of $80.42. The company’s 50 day moving average price is $66.58 and its 200 day moving average price is $71.37. The firm has a market cap of $967.58 million, a PE ratio of 36.85 and a beta of 1.80.
Universal Electronics (NASDAQ:UEIC) last issued its earnings results on Thursday, November 3rd. The company reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.02. The firm had revenue of $170.30 million for the quarter, compared to analyst estimates of $173.98 million. Universal Electronics had a return on equity of 16.85% and a net margin of 4.05%. Universal Electronics’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.78 earnings per share. Equities research analysts predict that Universal Electronics will post $2.90 earnings per share for the current fiscal year.
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In other Universal Electronics news, EVP Paul J. Bennett sold 44,512 shares of the company’s stock in a transaction that occurred on Wednesday, December 7th. The stock was sold at an average price of $65.19, for a total value of $2,901,737.28. Following the sale, the executive vice president now owns 46,283 shares in the company, valued at approximately $3,017,188.77. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Paul J. Bennett sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, December 15th. The stock was sold at an average price of $67.67, for a total value of $676,700.00. Following the completion of the sale, the executive vice president now owns 19,583 shares in the company, valued at approximately $1,325,181.61. The disclosure for this sale can be found here. 5.82% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the company. BlackRock Fund Advisors raised its stake in Universal Electronics by 8.0% in the third quarter. BlackRock Fund Advisors now owns 992,691 shares of the company’s stock valued at $73,916,000 after buying an additional 73,391 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Universal Electronics by 1.1% in the second quarter. Vanguard Group Inc. now owns 642,207 shares of the company’s stock valued at $46,419,000 after buying an additional 7,149 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Universal Electronics by 4.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 384,434 shares of the company’s stock valued at $28,625,000 after buying an additional 15,975 shares during the last quarter. Wellington Shields & Co. LLC increased its position in shares of Universal Electronics by 18.4% in the third quarter. Wellington Shields & Co. LLC now owns 359,455 shares of the company’s stock valued at $26,765,000 after buying an additional 55,888 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Universal Electronics by 19.0% in the third quarter. Northern Trust Corp now owns 352,048 shares of the company’s stock valued at $26,214,000 after buying an additional 56,107 shares during the last quarter. Institutional investors and hedge funds own 91.69% 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.
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