Universal Electronics (NASDAQ:UEIC) Stock Passes Above 200 Day Moving Average of $9.80

Universal Electronics Inc. (NASDAQ:UEIC)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.80 and traded as high as $11.43. Universal Electronics shares last traded at $11.34, with a volume of 46,922 shares changing hands.

Wall Street Analysts Forecast Growth

UEIC has been the topic of several recent research reports. StockNews.com raised Universal Electronics from a “hold” rating to a “buy” rating in a report on Friday, March 15th. B. Riley boosted their price target on shares of Universal Electronics from $10.50 to $11.00 and gave the company a “neutral” rating in a report on Monday, May 6th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $15.00 price objective on shares of Universal Electronics in a report on Friday, May 3rd.

Universal Electronics Price Performance

The business has a 50-day simple moving average of $11.42 and a two-hundred day simple moving average of $9.82.

Universal Electronics (NASDAQ:UEIC) last announced its earnings results on Thursday, May 2nd. The technology company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.05. The business had revenue of $91.90 million during the quarter, compared to analysts’ expectations of $90.55 million. Universal Electronics had a negative net margin of 11.27% and a negative return on equity of 22.59%. On average, equities research analysts anticipate that Universal Electronics Inc. will post -0.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Universal Electronics

A number of institutional investors and hedge funds have recently bought and sold shares of UEIC. Ancora Advisors LLC acquired a new stake in Universal Electronics in the 3rd quarter valued at about $1,486,000. Kent Lake Capital LLC acquired a new position in Universal Electronics during the 1st quarter worth $1,588,000. AMH Equity Ltd boosted its position in Universal Electronics by 35.1% in the 4th quarter. AMH Equity Ltd now owns 400,000 shares of the technology company’s stock valued at $3,756,000 after buying an additional 104,000 shares during the last quarter. GSA Capital Partners LLP raised its position in shares of Universal Electronics by 261.2% during the third quarter. GSA Capital Partners LLP now owns 122,694 shares of the technology company’s stock worth $1,110,000 after acquiring an additional 88,724 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of Universal Electronics by 16.7% during the third quarter. Acadian Asset Management LLC now owns 442,976 shares of the technology company’s stock valued at $4,007,000 after acquiring an additional 63,367 shares during the period. Institutional investors and hedge funds own 79.35% of the company’s stock.

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.