CUI Global Inc (CUI) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research cut shares of CUI Global Inc (NASDAQ:CUI) from a hold rating to a sell rating in a report released on Friday morning.

According to Zacks, “CUI Global Inc., formerly known as Waytronx Inc., is primarily engaged in the acquisition and development of innovative companies and technologies. CUI through its subsidiaries in engaged in the manufacture and supply of external adapters and embedded ac-dc power supplies, dc-dc converters, LED driver modules, and digital point-of-load modules. rotary encoders for motion control applications and other interconnect, sound, and thermal products. The Company also holds a 49% stake in Comex, a Japanese DSP-based hardware and software company that specializes in test and measurement equipment. It focuses on applications that demand high speed multiple channel measurement. CUI Global Inc. is based in Tualatin, Oregon. “

CUI Global (NASDAQ:CUI) traded down 1.00% during trading on Friday, hitting $4.95. The stock had a trading volume of 35,468 shares. CUI Global has a 1-year low of $4.01 and a 1-year high of $8.54. The firm’s 50 day moving average is $6.11 and its 200 day moving average is $5.95. The firm’s market cap is $103.53 million.

CUI Global (NASDAQ:CUI) last issued its earnings results on Tuesday, March 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by $0.05. The company earned $19.40 million during the quarter, compared to analyst estimates of $21.46 million. CUI Global had a negative return on equity of 8.96% and a negative net margin of 6.75%. The business’s revenue was down 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. On average, analysts anticipate that CUI Global will post ($0.01) earnings per share for the current year.

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Institutional investors have recently modified their holdings of the company. Heartland Advisors Inc. boosted its position in shares of CUI Global by 19.2% in the third quarter. Heartland Advisors Inc. now owns 2,204,923 shares of the company’s stock worth $12,855,000 after buying an additional 355,200 shares during the last quarter. Wasatch Advisors Inc. bought a new position in shares of CUI Global during the third quarter worth about $1,149,000. Cortina Asset Management LLC boosted its position in shares of CUI Global by 54.4% in the fourth quarter. Cortina Asset Management LLC now owns 476,571 shares of the company’s stock worth $3,303,000 after buying an additional 167,857 shares during the last quarter. First Eagle Investment Management LLC boosted its position in shares of CUI Global by 6.4% in the third quarter. First Eagle Investment Management LLC now owns 2,500,542 shares of the company’s stock worth $14,578,000 after buying an additional 150,166 shares during the last quarter. Finally, New Jersey Better Educational Savings Trust bought a new position in shares of CUI Global during the third quarter worth about $641,000. Institutional investors and hedge funds own 63.27% of the company’s stock.

About CUI Global

CUI Global, Inc is a platform company. The Company’s segments include Power and Electromechanical, Energy and Other. The Power and Electromechanical segment includes its subsidiaries, CUI, Inc (CUI), CUI Japan and CUI-Canada, Inc, which provide electromechanical components, including power supplies, transformers, converters, connectors and industrial controls for original equipment manufacturers (OEMs).

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