CMCSA

Universal Electronics Shifts To Smart Home From TV Remotes

LAS VEGAS - Universal Electronics ( UEIC ) is known for its remote controls for TVs and entertainment systems, but increasingly the company wants to be a player in the smart home.

The Santa Ana, Calif.-based company exhibited a broad range of connected home devices at CES 2018. The four-day consumer electronics show ended Friday.

"For the smart home, in the past few years, we've acquired a couple of companies - Ecolink and RCS - that bring other products into our suite," Bob Maling, senior manager of applications engineering for Universal Electronics, told Investor's Business Daily. "You'll see thermostats, motion detection, safety and security systems, smoke alarms and other devices from us."

Much of Universal Electronics' business is through pay-TV service providers like Comcast ( CMCSA ), Charter Communications ( CHTR ) and Dish Network ( DISH ). As cable and telco companies sell and support more smart home devices, Universal Electronics wants to be able to offer them products.

CES 2018: See The Latest Technology Trends & Top Tech Stocks

Last May, Universal Electronics purchased RCS Technology, a maker of energy management and control products for the residential, commercial and hospitality markets.

In May 2015, it acquired Ecolink Intelligent Technology, a maker of wireless sensor and home security products.

Universal Electronics stock has been an underperformer lately. It currently has an IBD Composite Rating of 23, meaning it has been outperformed by 77% of stocks in key metrics over the past 12 months.

Universal Electronics stock hit an all-time high of 80.42 in August 2016. It ended the regular session Friday up 0.2% to 48.55.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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