Universal Electronics (NASDAQ:UEIC) Rating Lowered to Hold at StockNews.com

Universal Electronics (NASDAQ:UEICGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Universal Electronics from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 21st. B. Riley cut their target price on shares of Universal Electronics from $62.00 to $53.00 in a research note on Friday, February 18th. Finally, TheStreet cut shares of Universal Electronics from a “c” rating to a “d+” rating in a research note on Thursday, May 5th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Universal Electronics has an average rating of “Buy” and a consensus price target of $64.33.

Shares of UEIC stock opened at $27.58 on Thursday. The stock has a market cap of $348.34 million, a P/E ratio of -70.72 and a beta of 1.10. The company has a fifty day moving average price of $30.59 and a two-hundred day moving average price of $35.07. Universal Electronics has a one year low of $26.09 and a one year high of $53.07.

Universal Electronics (NASDAQ:UEICGet Rating) last posted its earnings results on Thursday, February 17th. The technology company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.60). The company had revenue of $144.94 million for the quarter, compared to analyst estimates of $143.04 million. Universal Electronics had a negative return on equity of 1.60% and a negative net margin of 0.79%. During the same quarter in the prior year, the business posted $0.86 EPS. On average, research analysts expect that Universal Electronics will post 0.76 EPS for the current fiscal year.

In other Universal Electronics news, Director William C. Mulligan acquired 6,500 shares of the company’s stock in a transaction on Tuesday, February 22nd. The stock was acquired at an average price 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 can be accessed through this link. 7.09% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of UEIC. William Blair Investment Management LLC raised its stake in Universal Electronics by 51,022.5% in the 3rd quarter. William Blair Investment Management LLC now owns 692,710 shares of the technology company’s stock worth $34,116,000 after purchasing an additional 691,355 shares in the last quarter. Lapides Asset Management LLC increased its holdings in Universal Electronics by 32.6% in the 1st quarter. Lapides Asset Management LLC now owns 230,300 shares of the technology company’s stock valued at $7,195,000 after buying an additional 56,600 shares during the period. Sei Investments Co. bought a new position in Universal Electronics in the 4th quarter valued at about $2,116,000. The Manufacturers Life Insurance Company increased its holdings in Universal Electronics by 10.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 540,053 shares of the technology company’s stock valued at $22,008,000 after buying an additional 50,290 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Universal Electronics by 10.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 489,763 shares of the technology company’s stock valued at $24,121,000 after buying an additional 47,016 shares during the period. Institutional investors and hedge funds own 87.74% of the company’s stock.

About Universal Electronics (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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