Universal Electronics (NASDAQ:UEIC) Rating Lowered to Buy at StockNews.com

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

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

Universal Electronics Stock Performance

Shares of NASDAQ UEIC opened at $10.35 on Friday. The stock has a 50 day moving average price of $11.03 and a 200 day moving average price of $10.03. The firm has a market capitalization of $134.86 million, a price-to-earnings ratio of -5.05, a PEG ratio of 4.31 and a beta of 1.20. Universal Electronics has a 52-week low of $7.53 and a 52-week high of $14.20.

Universal Electronics (NASDAQ:UEIC) last issued its earnings results on Thursday, November 7th. The technology company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.16). The firm had revenue of $102.07 million during the quarter, compared to analysts’ expectations of $102.57 million. Universal Electronics had a negative return on equity of 8.61% and a negative net margin of 6.96%. During the same quarter in the prior year, the company posted ($1.50) earnings per share. Analysts forecast that Universal Electronics will post -0.44 earnings per share for the current year.

Insider Activity

In related news, Director Edward K. Zinser sold 2,500 shares of the company’s stock in a transaction dated 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 directly 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 SEC, which is available at this link. Also, CEO Paul D. Arling sold 13,185 shares of the stock in a transaction dated Wednesday, December 11th. The shares were 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 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.37% of the company’s stock.

Hedge Funds Weigh In On Universal Electronics

Several hedge funds have recently modified their holdings of the stock. Barclays PLC boosted its stake in Universal Electronics by 33.5% in the 3rd quarter. Barclays PLC now owns 21,943 shares of the technology company’s stock worth $202,000 after purchasing an additional 5,512 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Universal Electronics during the third quarter worth $163,000. Empowered Funds LLC grew its holdings in shares of Universal Electronics by 5.3% during the third quarter. Empowered Funds LLC now owns 42,980 shares of the technology company’s stock valued at $397,000 after buying an additional 2,144 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Universal Electronics by 15.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,979 shares of the technology company’s stock valued at $609,000 after acquiring an additional 8,706 shares during the period. Finally, Sei Investments Co. purchased a new position in Universal Electronics in the 2nd quarter worth $212,000. 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.