Universal Electronics (NASDAQ:UEIC) Downgraded to “D+” at TheStreet

Universal Electronics (NASDAQ:UEICGet Rating) was downgraded by equities researchers at TheStreet from a “c” rating to a “d+” rating in a research note issued on Thursday, TheStreetRatingsTable reports.

Several other equities analysts have also weighed in on the company. Zacks Investment Research upgraded Universal Electronics from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 21st. B. Riley cut their price target on Universal Electronics from $62.00 to $53.00 in a research note on Friday, February 18th. Finally, StockNews.com started coverage on Universal Electronics in a research note on Thursday, March 31st. They set a “buy” rating for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Universal Electronics currently has an average rating of “Buy” and a consensus price target of $64.33.

Shares of UEIC stock opened at $27.82 on Thursday. The stock has a market cap of $354.07 million, a PE ratio of 84.30 and a beta of 1.10. The business has a 50-day simple moving average of $31.14 and a 200-day simple moving average of $35.64. Universal Electronics has a 52-week low of $27.01 and a 52-week high of $57.78.

Universal Electronics (NASDAQ:UEICGet Rating) last issued its quarterly earnings data on Thursday, February 17th. The technology company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.60). The company had revenue of $144.94 million during the quarter, compared to analyst estimates of $143.04 million. Universal Electronics had a net margin of 0.88% and a return on equity of 1.78%. During the same period last year, the firm earned $0.86 EPS. As a group, research analysts expect that Universal Electronics will post 0.76 EPS for the current year.

In related news, Director William C. Mulligan bought 6,500 shares of the stock in a transaction dated Tuesday, February 22nd. The shares were acquired at an average cost of $31.84 per share, for a total transaction of $206,960.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 7.09% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James & Associates lifted its holdings in Universal Electronics by 0.9% in the fourth quarter. Raymond James & Associates now owns 35,396 shares of the technology company’s stock valued at $1,442,000 after acquiring an additional 330 shares during the last quarter. Eaton Vance Management lifted its stake in Universal Electronics by 2.3% during the fourth quarter. Eaton Vance Management now owns 15,254 shares of the technology company’s stock worth $599,000 after purchasing an additional 337 shares in the last quarter. Palouse Capital Management Inc. lifted its stake in Universal Electronics by 8.2% during the first quarter. Palouse Capital Management Inc. now owns 9,016 shares of the technology company’s stock worth $282,000 after purchasing an additional 684 shares in the last quarter. Geode Capital Management LLC lifted its stake in Universal Electronics by 0.3% during the third quarter. Geode Capital Management LLC now owns 233,566 shares of the technology company’s stock worth $11,503,000 after purchasing an additional 717 shares in the last quarter. Finally, Credit Suisse AG lifted its stake in Universal Electronics by 8.2% during the fourth quarter. Credit Suisse AG now owns 10,329 shares of the technology company’s stock worth $421,000 after purchasing an additional 782 shares in the last quarter. Hedge funds and other institutional investors own 87.74% of the company’s stock.

Universal Electronics Company Profile (Get Rating)

Universal Electronics Inc designs, develops, manufactures, and sells pre-programmed and universal control products, audio-video (AV) accessories, and intelligent wireless security and smart home products for video services, consumer electronics, security, home automation, climate control, and home appliance markets.

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