Universal Electronics (NASDAQ:UEIC) Stock Passes Above 200-Day Moving Average – Should You Sell?

Universal Electronics Inc. (NASDAQ:UEIC)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.29 and traded as high as $11.90. Universal Electronics shares last traded at $11.70, with a volume of 72,668 shares changing hands.

Wall Street Analysts Forecast Growth

UEIC has been the topic of a number of research reports. B. Riley raised shares of Universal Electronics from a “neutral” rating to a “buy” rating and lifted their target price for the company from $11.00 to $14.00 in a research note on Monday, November 11th. Rosenblatt Securities upgraded Universal Electronics from a “neutral” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Friday, November 8th. Finally, StockNews.com raised Universal Electronics from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th.

Universal Electronics Stock Up 2.6 %

The stock has a market cap of $152.43 million, a PE ratio of -5.71 and a beta of 1.13. The stock’s fifty day moving average price is $8.94 and its 200 day moving average price is $10.29.

Insider Buying and Selling at Universal Electronics

In other Universal Electronics news, Director Edward K. Zinser sold 2,500 shares of Universal Electronics stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $10.68, for a total value of $26,700.00. Following the completion of the transaction, the director now directly owns 38,062 shares of the company’s stock, valued at $406,502.16. This trade represents a 6.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 9.37% of the company’s stock.

Institutional Investors Weigh In On Universal Electronics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Kent Lake Capital LLC bought a new stake in shares of Universal Electronics in the 1st quarter valued at about $1,588,000. Acadian Asset Management LLC boosted its stake in Universal Electronics by 9.1% during the 2nd quarter. Acadian Asset Management LLC now owns 499,940 shares of the technology company’s stock worth $5,804,000 after purchasing an additional 41,795 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Universal Electronics by 24.8% during 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. Assenagon Asset Management S.A. raised its position in shares of Universal Electronics by 18.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 140,077 shares of the technology company’s stock valued at $1,628,000 after buying an additional 21,337 shares during the period. Finally, Sei Investments Co. acquired a new position in shares of Universal Electronics in the 2nd quarter valued at $212,000. Hedge funds and other 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.