Universal Electronics (NASDAQ:UEIC) Releases Earnings Results, Misses Estimates By $0.07 EPS

Universal Electronics (NASDAQ:UEIC) released its quarterly earnings results on Monday. The technology company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.07), FiscalAI reports. The business had revenue of $79.04 million for the quarter, compared to analysts’ expectations of $73.86 million. Universal Electronics had a negative return on equity of 0.47% and a negative net margin of 5.05%.

Universal Electronics Price Performance

Shares of UEIC stock traded down $0.07 during midday trading on Monday, hitting $4.23. The company had a trading volume of 45,567 shares, compared to its average volume of 59,145. The company’s 50 day simple moving average is $4.14 and its 200 day simple moving average is $3.80. Universal Electronics has a 52-week low of $2.69 and a 52-week high of $7.50. The stock has a market cap of $53.34 million, a price-to-earnings ratio of -3.02 and a beta of 1.23.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on UEIC shares. Weiss Ratings upgraded Universal Electronics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, April 22nd. Wall Street Zen raised Universal Electronics from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $5.75.

Institutional Investors Weigh In On Universal Electronics

A number of hedge funds and other institutional investors have recently bought and sold shares of UEIC. Cubist Systematic Strategies LLC lifted its holdings in Universal Electronics by 62.7% in the first quarter. Cubist Systematic Strategies LLC now owns 32,502 shares of the technology company’s stock valued at $199,000 after acquiring an additional 12,526 shares during the period. Goldman Sachs Group Inc. raised its holdings in Universal Electronics by 15.6% during the first quarter. Goldman Sachs Group Inc. now owns 36,341 shares of the technology company’s stock worth $222,000 after purchasing an additional 4,893 shares during the last quarter. Empowered Funds LLC raised its holdings in Universal Electronics by 8.4% during the first quarter. Empowered Funds LLC now owns 48,816 shares of the technology company’s stock worth $299,000 after purchasing an additional 3,802 shares during the last quarter. Kent Lake PR LLC raised its holdings in Universal Electronics by 17.2% during the second quarter. Kent Lake PR LLC now owns 1,260,642 shares of the technology company’s stock worth $8,345,000 after purchasing an additional 185,014 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Universal Electronics by 23.2% during the second quarter. Ameriprise Financial Inc. now owns 875,458 shares of the technology company’s stock worth $5,796,000 after purchasing an additional 164,617 shares during the last quarter. Institutional investors and hedge funds own 79.35% of the company’s stock.

Universal Electronics Company Profile

Universal Electronics Inc (NASDAQ:UEIC) is a leading provider of sensing and control technologies for the smart home and consumer electronics markets. The company specializes in design, development and manufacturing of remote control devices, wireless connectivity modules and integrated sensing solutions. Its core expertise lies in infrared (IR) and radio frequency (RF) remote controls, voice-enabled control devices and universal remotes that allow consumers to manage multiple home entertainment and automation systems through a single interface.

In addition to traditional remote control products, Universal Electronics has expanded its portfolio to include Internet of Things (IoT) gateways, home-automation hubs and cloud-based management platforms.