Universal Electronics (NASDAQ:UEIC) Downgraded by StockNews.com to “Buy”

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

A number of other brokerages also recently commented on UEIC. Rosenblatt Securities raised Universal Electronics from a “neutral” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Friday, November 8th. B. Riley raised Universal Electronics from a “neutral” rating to a “buy” rating and raised their target price for the company from $11.00 to $14.00 in a research report on Monday, November 11th.

Universal Electronics Stock Performance

NASDAQ:UEIC opened at $10.29 on Friday. Universal Electronics has a 52 week low of $7.53 and a 52 week high of $14.20. The firm has a 50-day moving average price of $11.01 and a two-hundred day moving average price of $10.08. The firm has a market cap of $134.08 million, a price-to-earnings ratio of -5.02, a price-to-earnings-growth ratio of 3.85 and a beta of 1.20.

Insider Activity at Universal Electronics

In other news, Director Edward K. Zinser sold 2,500 shares of the company’s stock in a transaction 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 transaction, the director now owns 38,062 shares of the company’s stock, valued at $406,502.16. This represents a 6.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Paul D. Arling sold 13,185 shares of Universal Electronics stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $11.73, for a total value 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 approximately $3,326,803.95. This trade represents a 4.44 % decrease in their position. The disclosure for this sale can be found here. 9.37% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp purchased a new stake in shares of Universal Electronics during the second quarter worth $122,000. Jane Street Group LLC bought a new stake in shares of Universal Electronics during the 3rd quarter valued at $163,000. JPMorgan Chase & Co. lifted its holdings in Universal Electronics by 34.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,823 shares of the technology company’s stock worth $165,000 after purchasing an additional 4,591 shares in the last quarter. Sei Investments Co. bought a new position in Universal Electronics in the 2nd quarter worth about $212,000. Finally, Barclays PLC grew its holdings in Universal Electronics by 33.5% during 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 in the last quarter. 79.35% of the stock is owned by institutional investors.

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.