Universal Electronics (NASDAQ:UEIC) Cut to “Buy” at StockNews.com

StockNews.com downgraded shares of Universal Electronics (NASDAQ:UEIC) from a strong-buy rating to a buy rating in a research report sent to investors on Friday morning.

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

Universal Electronics Price Performance

UEIC stock opened at $10.83 on Friday. The stock has a market capitalization of $141.09 million, a P/E ratio of -5.28 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. The business has a 50-day moving average of $10.22 and a 200-day moving average of $10.21.

Insider Activity at Universal Electronics

In other news, Director Edward K. Zinser sold 2,500 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $10.68, for a total transaction of $26,700.00. Following the transaction, the director now directly owns 38,062 shares in the company, valued at $406,502.16. The trade was a 6.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Paul D. Arling sold 13,185 shares of the firm’s 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 of the company’s stock, valued at $3,326,803.95. This trade represents a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.37% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC boosted its position in 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 lifted its stake in shares of 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 last quarter. American Century Companies Inc. lifted its stake in shares of Universal Electronics by 24.8% during the 2nd quarter. American Century Companies Inc. now owns 165,845 shares of the technology company’s stock worth $1,927,000 after buying an additional 32,911 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Universal Electronics by 15.2% during the 3rd 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. grew its stake in Universal Electronics by 4.3% in the 3rd quarter. Victory Capital Management Inc. now owns 53,703 shares of the technology company’s stock valued at $496,000 after buying an additional 2,203 shares during the last quarter. 79.35% of the stock is currently owned by institutional investors.

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.