Zacks Investment Research upgraded shares of Universal Electronics (NASDAQ:UEIC) from a sell rating to a hold rating in a research report released on Saturday 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 a number of other research reports. BidaskClub cut shares of Universal Electronics from a sell rating to a strong sell rating in a report on Tuesday, December 5th. Piper Jaffray Companies dropped their price objective on shares of Universal Electronics to $70.00 and set an overweight rating on the stock in a report on Friday, November 3rd. Finally, B. Riley set a $77.00 price objective on shares of Universal Electronics and gave the stock a buy rating in a report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Universal Electronics has an average rating of Hold and a consensus price target of $72.75.
Universal Electronics (NASDAQ:UEIC) last released its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.81 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.04). Universal Electronics had a return on equity of 11.27% and a net margin of 1.45%. The firm had revenue of $175.51 million during the quarter, compared to analyst estimates of $182.53 million. During the same period last year, the business earned $0.93 EPS. The firm’s revenue was up 3.0% on a year-over-year basis. analysts expect that Universal Electronics will post 2.28 earnings per share for the current year.
In related news, insider David Cheung Hyen Chong sold 11,550 shares of the stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $50.31, for a total value of $581,080.50. Following the completion of the transaction, the insider now owns 31,657 shares in the company, valued at approximately $1,592,663.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director J C. Sparkman bought 2,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was bought at an average price of $47.50 per share, with a total value of $95,000.00. Following the transaction, the director now directly owns 41,871 shares in the company, valued at $1,988,872.50. The disclosure for this purchase can be found here. Corporate insiders own 5.94% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Segall Bryant & Hamill LLC grew its position in Universal Electronics by 77.3% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 145,204 shares of the technology company’s stock valued at $9,206,000 after buying an additional 63,297 shares in the last quarter. Formula Growth Ltd. grew its position in Universal Electronics by 21.7% in the 3rd quarter. Formula Growth Ltd. now owns 28,000 shares of the technology company’s stock valued at $1,775,000 after buying an additional 5,000 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Universal Electronics by 0.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 597,067 shares of the technology company’s stock valued at $37,854,000 after buying an additional 5,030 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in Universal Electronics by 21.1% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 82,216 shares of the technology company’s stock valued at $5,213,000 after buying an additional 14,352 shares in the last quarter. Finally, Hartland & Co. LLC grew its position in Universal Electronics by 41.7% in the 3rd quarter. Hartland & Co. LLC now owns 21,245 shares of the technology company’s stock valued at $1,347,000 after buying an additional 6,250 shares in the last quarter. Hedge funds and other institutional investors own 96.66% of the company’s stock.
Universal Electronics Company Profile
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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