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

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

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

Universal Electronics Price Performance

Shares of UEIC stock opened at $9.83 on Thursday. Universal Electronics has a 12-month low of $7.53 and a 12-month high of $14.20. The firm has a market capitalization of $128.07 million, a price-to-earnings ratio of -4.80 and a beta of 1.20. The business has a 50 day simple moving average of $10.88 and a 200 day simple moving average of $10.13.

Insider Buying and Selling at Universal Electronics

In related news, 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 transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward K. Zinser sold 2,500 shares of Universal Electronics 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 owns 38,062 shares in the company, valued at approximately $406,502.16. This trade represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. 9.37% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Universal Electronics

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

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.