StockNews.com Lowers Universal Electronics (NASDAQ:UEIC) to Hold

StockNews.com lowered shares of Universal Electronics (NASDAQ:UEIC) from a buy rating to a hold rating in a research note released on Wednesday morning.

Universal Electronics Stock Performance

UEIC stock opened at $9.29 on Wednesday. The company has a fifty day moving average price of $10.25 and a 200-day moving average price of $10.56. The company has a market capitalization of $120.58 million, a P/E ratio of -2.63 and a beta of 1.14. Universal Electronics has a 52-week low of $7.02 and a 52-week high of $14.20.

Universal Electronics (NASDAQ:UEIC) last posted its quarterly earnings data on Thursday, August 8th. The technology company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.01). Universal Electronics had a negative return on equity of 19.41% and a negative net margin of 11.19%. The firm had revenue of $90.45 million for the quarter, compared to analyst estimates of $94.86 million. As a group, sell-side analysts forecast that Universal Electronics will post -0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Universal Electronics

Several large investors have recently modified their holdings of UEIC. Bank of New York Mellon Corp acquired a new stake in Universal Electronics in the second quarter worth $122,000. Marquette Asset Management LLC acquired a new stake in Universal Electronics in the first quarter worth $159,000. Sei Investments Co. acquired a new stake in Universal Electronics in the second quarter worth $212,000. Howland Capital Management LLC grew its holdings in Universal Electronics by 56.6% in the first quarter. Howland Capital Management LLC now owns 32,942 shares of the technology company’s stock worth $330,000 after purchasing an additional 11,900 shares during the period. Finally, Empowered Funds LLC grew its holdings in Universal Electronics by 8.0% in the first quarter. Empowered Funds LLC now owns 37,956 shares of the technology company’s stock worth $380,000 after purchasing an additional 2,800 shares during the period. 79.35% of the stock is currently owned by institutional investors and hedge funds.

About Universal Electronics

Universal Electronics Inc designs, develops, manufactures, ships, and supports control and sensor technology solutions in the United States, the People's Republic of China, rest of Asia, Europe, Latin America, and internationally. The company offers voice-enabled automatically-programmed universal two-way radio frequency, as well as infrared remote controls to video service providers, original equipment manufacturers (OEMs), retailers, and private label customers; wall-mount and handheld thermostat controllers and connected accessories for smart energy management systems to OEM customers, hotels, hospitality, and system integrators; proprietary and standards-based RF sensors for residential security, safety, and home automation applications; and integrated circuits on which its software and universal device control database is embedded to OEMs, video service providers, and private label customers.