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

StockNews.com lowered shares of Universal Electronics (NASDAQ:UEIC) from a buy rating to a hold rating in a research note issued to investors on Monday.

Several other research analysts also recently commented on the company. Rosenblatt Securities reissued a neutral rating and issued a $15.00 price objective on shares of Universal Electronics in a research note on Friday, May 3rd. B. Riley upped their target price on Universal Electronics from $10.50 to $11.00 and gave the company a neutral rating in a report on Monday, May 6th.

Universal Electronics Trading Up 0.2 %

Shares of NASDAQ:UEIC opened at $9.22 on Monday. Universal Electronics has a 12-month low of $7.02 and a 12-month high of $14.20. The company has a market capitalization of $119.68 million, a PE ratio of -2.61 and a beta of 1.13. The business has a 50 day moving average of $10.79 and a two-hundred day moving average of $10.54.

Universal Electronics (NASDAQ:UEIC) last announced its earnings results 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). The business had revenue of $90.45 million for the quarter, compared to analyst estimates of $94.86 million. Universal Electronics had a negative return on equity of 19.41% and a negative net margin of 11.19%. Equities research analysts predict that Universal Electronics will post -0.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Universal Electronics

Hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp acquired a new stake in Universal Electronics in the 2nd quarter valued at about $122,000. Marquette Asset Management LLC acquired a new stake in shares of Universal Electronics during the 1st quarter worth about $159,000. Sei Investments Co. acquired a new stake in shares of Universal Electronics during the 2nd quarter worth about $212,000. Howland Capital Management LLC increased its position in Universal Electronics by 56.6% during the first quarter. Howland Capital Management LLC now owns 32,942 shares of the technology company’s stock worth $330,000 after buying an additional 11,900 shares during the period. Finally, Empowered Funds LLC increased its position in Universal Electronics by 8.0% during the first quarter. Empowered Funds LLC now owns 37,956 shares of the technology company’s stock worth $380,000 after buying an additional 2,800 shares during the period. 79.35% of the stock is currently owned by hedge funds and other institutional investors.

Universal Electronics Company Profile

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.