Universal Electronics (NASDAQ:UEIC) Rating Lowered to “Buy” at StockNews.com

StockNews.com cut shares of Universal Electronics (NASDAQ:UEIC) from a strong-buy rating to a buy rating in a research report report published on Saturday.

Other equities analysts have also issued reports about the stock. Rosenblatt Securities restated a “buy” rating and issued a $15.00 price objective on shares of Universal Electronics in a report on Friday, February 21st. B. Riley raised Universal Electronics from a “neutral” rating to a “buy” rating and increased their price target for the company from $11.00 to $14.00 in a research note on Monday, November 11th.

Universal Electronics Price Performance

Shares of Universal Electronics stock opened at $7.39 on Friday. The firm has a 50 day simple moving average of $9.92 and a 200 day simple moving average of $9.69. Universal Electronics has a fifty-two week low of $7.36 and a fifty-two week high of $14.20. The firm has a market cap of $96.28 million, a P/E ratio of -3.99, a P/E/G ratio of 3.62 and a beta of 1.19.

Universal Electronics (NASDAQ:UEIC) last posted its quarterly earnings results on Thursday, February 20th. The technology company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.04). The firm had revenue of $110.45 million during the quarter, compared to the consensus estimate of $102.47 million. Universal Electronics had a negative net margin of 6.09% and a negative return on equity of 3.67%. On average, sell-side analysts expect that Universal Electronics will post 0.17 EPS for the current year.

Insider Activity

In related news, CEO Paul D. Arling sold 13,185 shares of Universal Electronics stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $11.73, for a total transaction of $154,660.05. Following the transaction, the chief executive officer now owns 283,615 shares of the company’s stock, valued at $3,326,803.95. This trade represents a 4.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 9.37% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Universal Electronics

Several hedge funds have recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new stake in shares of Universal Electronics in the 4th quarter valued at $33,000. OMERS ADMINISTRATION Corp acquired a new position in Universal Electronics in the fourth quarter valued at about $121,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Universal Electronics during the fourth quarter worth about $139,000. Jane Street Group LLC acquired a new stake in shares of Universal Electronics during the third quarter worth about $163,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Universal Electronics by 34.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,823 shares of the technology company’s stock valued at $165,000 after purchasing an additional 4,591 shares in the last quarter. 79.35% of the stock is currently owned by institutional investors and hedge funds.

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.