Universal Electronics (NASDAQ:UEIC) Earns “Buy” Rating from Rosenblatt Securities

Universal Electronics (NASDAQ:UEIC)‘s stock had its “buy” rating reaffirmed by stock analysts at Rosenblatt Securities in a research report issued on Friday,Benzinga reports. They currently have a $15.00 price objective on the technology company’s stock. Rosenblatt Securities’ price target points to a potential upside of 84.05% from the company’s current price.

Other research analysts have also issued research reports about the stock. B. Riley upgraded shares of 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. StockNews.com downgraded shares of Universal Electronics from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 18th.

Universal Electronics Price Performance

UEIC stock opened at $8.15 on Friday. Universal Electronics has a 52-week low of $7.53 and a 52-week high of $14.20. The company’s 50 day simple moving average is $10.29 and its 200-day simple moving average is $9.76. The firm has a market capitalization of $106.18 million, a P/E ratio of -4.41, a P/E/G ratio of 3.62 and a beta of 1.19.

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

Insider Transactions at Universal Electronics

In related news, CEO Paul D. Arling sold 13,185 shares of the stock in a transaction dated 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 owns 283,615 shares in the company, valued at $3,326,803.95. This trade represents a 4.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 9.37% of the stock is owned by insiders.

Institutional Investors Weigh In On Universal Electronics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UEIC. SBI Securities Co. Ltd. bought a new position in shares of Universal Electronics in the 4th quarter valued at about $33,000. OMERS ADMINISTRATION Corp bought a new position in Universal Electronics in the fourth quarter valued at approximately $121,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Universal Electronics in the fourth quarter valued at approximately $139,000. Jane Street Group LLC acquired a new stake in shares of Universal Electronics in the third quarter valued at approximately $163,000. Finally, JPMorgan Chase & Co. raised its holdings 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 valued at $165,000 after purchasing an additional 4,591 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.