Universal Electronics (NASDAQ:UEIC) Raised to “Strong-Buy” at StockNews.com

Universal Electronics (NASDAQ:UEIC) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Thursday.

UEIC has been the subject of a number of other research reports. Rosenblatt Securities upgraded shares of 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 shares of 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 UEIC stock opened at $11.47 on Thursday. The stock has a market cap of $149.45 million, a P/E ratio of -5.60 and a beta of 1.20. The company has a fifty day moving average price of $9.93 and a two-hundred day moving average price of $10.21. Universal Electronics has a one year low of $7.53 and a one year high of $14.20.

Insider Activity

In related news, Director Edward K. Zinser sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $10.68, for a total transaction of $26,700.00. Following the transaction, the director now directly owns 38,062 shares of the company’s stock, valued at approximately $406,502.16. This trade represents a 6.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Paul D. Arling sold 13,185 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $11.73, for a total transaction of $154,660.05. Following the transaction, the chief executive officer now directly owns 283,615 shares in the company, valued at approximately $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.

Hedge Funds Weigh In On Universal Electronics

A number of hedge funds have recently bought and sold shares of the business. Empowered Funds LLC increased its holdings in Universal Electronics by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 42,980 shares of the technology company’s stock valued at $397,000 after buying an additional 2,144 shares during the period. Victory Capital Management Inc. increased its holdings in Universal Electronics by 4.3% in the 3rd quarter. Victory Capital Management Inc. now owns 53,703 shares of the technology company’s stock valued at $496,000 after buying an additional 2,203 shares during the period. Barclays PLC increased its holdings in Universal Electronics by 33.5% in the 3rd quarter. Barclays PLC now owns 21,943 shares of the technology company’s stock valued at $202,000 after buying an additional 5,512 shares during the period. Vanguard Group Inc. increased its holdings in Universal Electronics by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 555,163 shares of the technology company’s stock valued at $5,557,000 after buying an additional 7,994 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Universal Electronics by 15.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,979 shares of the technology company’s stock valued at $609,000 after buying an additional 8,706 shares during the period. 79.35% of the stock is owned by institutional investors.

Universal Electronics Company Profile

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.