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

Universal Electronics (NASDAQ:UEIC) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

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

Universal Electronics Stock Performance

Shares of UEIC opened at $10.35 on Friday. The business’s 50-day moving average is $11.03 and its two-hundred day moving average is $10.05. The company has a market capitalization of $134.84 million, a P/E ratio of -5.05, a P/E/G ratio of 4.31 and a beta of 1.20. Universal Electronics has a fifty-two week low of $7.53 and a fifty-two week high of $14.20.

Universal Electronics (NASDAQ:UEIC) last posted its earnings results on Thursday, November 7th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.16). Universal Electronics had a negative return on equity of 8.61% and a negative net margin of 6.96%. The firm had revenue of $102.07 million for the quarter, compared to analysts’ expectations of $102.57 million. During the same period in the previous year, the company earned ($1.50) earnings per share. Analysts forecast that Universal Electronics will post -0.44 EPS for the current year.

Insider Activity at Universal Electronics

In other Universal Electronics news, CEO Paul D. Arling sold 13,185 shares of the firm’s 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 transaction, the chief executive officer now directly 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 document filed with the SEC, which is available through this hyperlink. Also, Director Edward K. Zinser sold 2,500 shares of the firm’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. This trade represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.37% of the stock is currently owned by corporate insiders.

Institutional Trading of Universal Electronics

Several institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC acquired a new position in shares of Universal Electronics in the third quarter worth $163,000. JPMorgan Chase & Co. grew its stake in shares of Universal Electronics by 34.7% in the third quarter. JPMorgan Chase & Co. now owns 17,823 shares of the technology company’s stock worth $165,000 after acquiring an additional 4,591 shares in the last quarter. Barclays PLC grew its stake in shares of Universal Electronics by 33.5% in the third quarter. Barclays PLC now owns 21,943 shares of the technology company’s stock worth $202,000 after acquiring an additional 5,512 shares in the last quarter. Sei Investments Co. purchased a new stake in shares of Universal Electronics during the 2nd quarter worth $212,000. Finally, Empowered Funds LLC lifted its position in shares of Universal Electronics by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 42,980 shares of the technology company’s stock worth $397,000 after purchasing an additional 2,144 shares during 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.