Universal Electronics (NASDAQ:UEIC) Upgraded at StockNews.com

StockNews.com upgraded shares of Universal Electronics (NASDAQ:UEIC) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday morning.

Other analysts also recently issued research reports about the company. Rosenblatt Securities upgraded Universal Electronics from a “neutral” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Friday, November 8th. B. Riley upgraded Universal Electronics from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $11.00 to $14.00 in a report on Monday, November 11th.

Universal Electronics Trading Down 0.6 %

Universal Electronics stock opened at $10.22 on Thursday. The company has a market capitalization of $133.15 million, a P/E ratio of -4.99 and a beta of 1.20. Universal Electronics has a 1-year low of $7.53 and a 1-year high of $14.20. The firm’s fifty day simple moving average is $10.88 and its 200-day simple moving average is $10.13.

Insider Buying and Selling

In other news, Director Edward K. Zinser sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $10.68, for a total transaction of $26,700.00. Following the completion of the transaction, the director now directly owns 38,062 shares in the company, valued at $406,502.16. The trade was a 6.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Paul D. Arling sold 13,185 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $11.73, for a total value of $154,660.05. Following the completion of the sale, the chief executive officer now directly owns 283,615 shares of the company’s stock, valued at $3,326,803.95. This represents a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.37% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC lifted its stake in shares of Universal Electronics by 9.1% in the second quarter. Acadian Asset Management LLC now owns 499,940 shares of the technology company’s stock valued at $5,804,000 after buying an additional 41,795 shares during the period. Dimensional Fund Advisors LP raised its holdings in Universal Electronics by 3.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 392,822 shares of the technology company’s stock valued at $4,565,000 after acquiring an additional 13,495 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Universal Electronics by 24.8% in the 2nd quarter. American Century Companies Inc. now owns 165,845 shares of the technology company’s stock worth $1,927,000 after acquiring an additional 32,911 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Universal Electronics by 15.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,979 shares of the technology company’s stock worth $609,000 after purchasing an additional 8,706 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Universal Electronics by 4.3% during the 3rd quarter. Victory Capital Management Inc. now owns 53,703 shares of the technology company’s stock worth $496,000 after purchasing an additional 2,203 shares in the last quarter. Institutional investors own 79.35% of the company’s stock.

About Universal Electronics

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.