Universal Electronics (NASDAQ:UEIC) Stock Rating Lowered by StockNews.com

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

Several other research firms also recently weighed in on UEIC. B. Riley raised shares of Universal Electronics from a “neutral” rating to a “buy” rating and lifted their price target for the company from $11.00 to $14.00 in a research note on Monday, November 11th. Rosenblatt Securities raised Universal Electronics from a “neutral” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Friday, November 8th.

Universal Electronics Price Performance

NASDAQ UEIC opened at $10.56 on Friday. Universal Electronics has a one year low of $7.53 and a one year high of $14.20. The business has a 50 day simple moving average of $11.04 and a 200 day simple moving average of $10.07. The stock has a market capitalization of $137.60 million, a P/E ratio of -5.15, a P/E/G ratio of 3.85 and a beta of 1.20.

Insiders Place Their Bets

In related news, CEO Paul D. Arling sold 13,185 shares of Universal Electronics stock in a transaction that occurred 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 transaction, the chief executive officer now owns 283,615 shares of the company’s stock, valued at $3,326,803.95. The trade was a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Edward K. Zinser sold 2,500 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $10.68, for a total value of $26,700.00. Following the completion of the sale, the director now directly owns 38,062 shares of the company’s stock, valued at $406,502.16. The trade was a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.37% of the company’s stock.

Hedge Funds Weigh In On Universal Electronics

Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of Universal Electronics by 3.6% during the second quarter. Dimensional Fund Advisors LP now owns 392,822 shares of the technology company’s stock valued at $4,565,000 after purchasing an additional 13,495 shares in the last quarter. American Century Companies Inc. lifted its position 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position 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 in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Universal Electronics by 4.3% in the 3rd quarter. Victory Capital Management Inc. now owns 53,703 shares of the technology company’s stock worth $496,000 after buying an additional 2,203 shares during the last quarter. Finally, Empowered Funds LLC grew its holdings in shares of Universal Electronics by 5.3% in the third quarter. Empowered Funds LLC now owns 42,980 shares of the technology company’s stock valued at $397,000 after acquiring an additional 2,144 shares in the last quarter. 79.35% of the stock is owned by hedge funds and other 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.