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

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

Other analysts have also recently issued reports about the company. Rosenblatt Securities upgraded Universal Electronics from a “neutral” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Friday, November 8th. B. Riley upgraded Universal Electronics from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $11.00 to $14.00 in a report on Monday, November 11th.

Universal Electronics Stock Down 4.5 %

Universal Electronics stock opened at $9.22 on Tuesday. The stock has a market cap of $120.14 million, a PE ratio of -4.50, a P/E/G ratio of 3.90 and a beta of 1.19. The business’s 50-day moving average price is $10.36 and its two-hundred day moving average price is $9.79. Universal Electronics has a 12-month low of $7.53 and a 12-month high of $14.20.

Universal Electronics (NASDAQ:UEIC) last released its quarterly earnings results on Thursday, February 20th. The technology company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). Universal Electronics had a negative return on equity of 8.61% and a negative net margin of 6.96%. As a group, analysts expect that Universal Electronics will post -0.59 earnings per share for the current year.

Insider Buying and Selling

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 value 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Universal Electronics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Two Sigma Advisers LP lifted its stake in shares of Universal Electronics by 36.2% in the fourth quarter. Two Sigma Advisers LP now owns 78,200 shares of the technology company’s stock worth $860,000 after acquiring an additional 20,800 shares during the period. OMERS ADMINISTRATION Corp acquired a new position in Universal Electronics in the fourth quarter valued at approximately $121,000. Millennium Management LLC lifted its stake in Universal Electronics by 63.9% in the fourth quarter. Millennium Management LLC now owns 62,972 shares of the technology company’s stock valued at $693,000 after buying an additional 24,541 shares during the period. Ancora Advisors LLC acquired a new position in Universal Electronics in the fourth quarter valued at approximately $1,703,000. Finally, 683 Capital Management LLC acquired a new position in Universal Electronics in the fourth quarter valued at approximately $326,000. 79.35% of the stock is 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.