Universal Electronics (NASDAQ:UEIC) Lowered to “Buy” Rating by StockNews.com

StockNews.com cut shares of Universal Electronics (NASDAQ:UEIC) from a strong-buy rating to a buy rating in a research note published on Friday morning.

Several other brokerages have also commented on UEIC. Rosenblatt Securities upgraded Universal Electronics from a “neutral” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Friday, November 8th. B. Riley upgraded Universal Electronics from a “neutral” rating to a “buy” rating and increased their price target for the stock from $11.00 to $14.00 in a report on Monday, November 11th.

Universal Electronics Stock Down 0.6 %

UEIC stock opened at $10.83 on Friday. The firm has a market cap of $141.09 million, a price-to-earnings ratio of -5.28 and a beta of 1.20. The company’s fifty day simple moving average is $10.17 and its 200 day simple moving average is $10.22. Universal Electronics has a 12-month low of $7.53 and a 12-month high of $14.20.

Insiders Place Their Bets

In other Universal Electronics news, CEO Paul D. Arling sold 13,185 shares of Universal Electronics stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $11.73, for a total transaction of $154,660.05. Following the transaction, the chief executive officer now directly owns 283,615 shares of the company’s stock, valued at $3,326,803.95. The trade was a 4.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward K. Zinser sold 2,500 shares of the firm’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 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

Several hedge funds have recently modified their holdings of UEIC. Empowered Funds LLC raised its stake in shares of Universal Electronics by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 42,980 shares of the technology company’s stock worth $397,000 after purchasing an additional 2,144 shares during the period. Victory Capital Management Inc. lifted its position in shares of Universal Electronics by 4.3% during 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. Barclays PLC grew its stake in shares of Universal Electronics by 33.5% during the 3rd quarter. Barclays PLC now owns 21,943 shares of the technology company’s stock worth $202,000 after acquiring an additional 5,512 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in 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 worth $609,000 after acquiring an additional 8,706 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Universal Electronics in the 2nd quarter valued at about $122,000. Institutional investors 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.