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

Universal Electronics (NASDAQ:UEIC) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Thursday.

Several other equities analysts also recently commented on UEIC. B. Riley raised Universal Electronics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $11.00 to $14.00 in a research 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 target on the stock in a research note on Friday, November 8th.

Universal Electronics Stock Down 0.6 %

Universal Electronics stock traded down $0.06 during midday trading on Thursday, reaching $10.22. The stock had a trading volume of 33,714 shares, compared to its average volume of 40,243. The firm has a market cap of $133.15 million, a price-to-earnings ratio of -4.99 and a beta of 1.20. Universal Electronics has a 52-week low of $7.53 and a 52-week high of $14.20. The company has a fifty day moving average of $10.88 and a 200 day moving average of $10.13.

Insiders Place Their Bets

In other Universal Electronics news, CEO Paul D. Arling sold 13,185 shares of the stock in a transaction 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward K. Zinser sold 2,500 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $10.68, for a total value of $26,700.00. Following the completion of the transaction, the director now directly owns 38,062 shares of the company’s stock, valued at approximately $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. 9.37% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Universal Electronics

Institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC raised its holdings in Universal Electronics by 5.3% in the third 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 in the last quarter. Victory Capital Management Inc. raised its stake 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 worth $496,000 after acquiring an additional 2,203 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Universal Electronics by 34.7% during the third quarter. JPMorgan Chase & Co. now owns 17,823 shares of the technology company’s stock valued at $165,000 after acquiring an additional 4,591 shares during the last quarter. Barclays PLC lifted its position in Universal Electronics by 33.5% during the third quarter. Barclays PLC now owns 21,943 shares of the technology company’s stock valued at $202,000 after acquiring an additional 5,512 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Universal Electronics by 15.2% in the third 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 in the last quarter. 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.