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

StockNews.com upgraded shares of Universal Electronics (NASDAQ:UEIC) from a buy rating to a strong-buy rating in a research report released on Monday morning.

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

Universal Electronics Price Performance

NASDAQ:UEIC opened at $9.50 on Monday. Universal Electronics has a one year low of $7.53 and a one year high of $14.20. The company has a market cap of $123.79 million, a PE ratio of -4.63, a PEG ratio of 3.96 and a beta of 1.19. The firm has a 50-day moving average of $10.71 and a 200-day moving average of $9.88.

Insiders Place Their Bets

In other news, CEO Paul D. Arling sold 13,185 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was 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 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. Insiders own 9.37% of the company’s stock.

Hedge Funds Weigh In On Universal Electronics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new stake in Universal Electronics in the fourth quarter worth about $33,000. Jane Street Group LLC bought a new stake in shares of Universal Electronics in the 3rd quarter worth approximately $163,000. JPMorgan Chase & Co. lifted its stake in 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. Barclays PLC grew its holdings in Universal Electronics by 33.5% during the third quarter. Barclays PLC now owns 21,943 shares of the technology company’s stock valued at $202,000 after purchasing an additional 5,512 shares during the period. Finally, Empowered Funds LLC increased its position in Universal Electronics by 5.3% in the third quarter. Empowered Funds LLC now owns 42,980 shares of the technology company’s stock worth $397,000 after buying an additional 2,144 shares during the last quarter. 79.35% of the stock is owned by hedge funds and other 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.