Universal Electronics (NASDAQ:UEIC) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Universal Electronics Inc. (NASDAQ:UEIC)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.22 and traded as high as $11.14. Universal Electronics shares last traded at $10.90, with a volume of 58,622 shares.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. B. Riley upgraded Universal Electronics from a “neutral” rating to a “buy” rating and upped their target price for the stock from $11.00 to $14.00 in a report on Monday, November 11th. StockNews.com cut Universal Electronics from a “strong-buy” rating to a “buy” rating in a research note on Friday. Finally, 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 note on Friday, November 8th.

Universal Electronics Stock Down 0.6 %

The company’s 50 day simple moving average is $10.22 and its two-hundred day simple moving average is $10.22. The company has a market capitalization of $141.09 million, a price-to-earnings ratio of -5.28 and a beta of 1.20.

Insider Transactions at Universal Electronics

In other Universal Electronics news, CEO Paul D. Arling sold 13,185 shares of Universal Electronics stock in a transaction dated Wednesday, December 11th. The stock was 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 approximately $3,326,803.95. The trade was a 4.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Edward K. Zinser sold 2,500 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $10.68, for a total transaction of $26,700.00. Following the completion of the transaction, the director now owns 38,062 shares in the company, valued at approximately $406,502.16. This trade represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. Insiders own 9.37% of the company’s stock.

Hedge Funds Weigh In On Universal Electronics

Large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new position in Universal Electronics during the second quarter valued at $122,000. Jane Street Group LLC purchased a new position in Universal Electronics in the 3rd quarter worth approximately $163,000. Barclays PLC boosted its holdings 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 purchasing an additional 5,512 shares during the last quarter. Sei Investments Co. purchased a new stake in Universal Electronics in the 2nd quarter valued at $212,000. Finally, Empowered Funds LLC increased its stake in shares of Universal Electronics by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 42,980 shares of the technology company’s stock worth $397,000 after acquiring an additional 2,144 shares during the last quarter. 79.35% of the stock is currently owned by institutional investors and hedge funds.

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.