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

Universal Electronics (NASDAQ:UEIC) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Friday.

A number of other equities analysts have also recently weighed in on UEIC. Rosenblatt Securities raised Universal Electronics from a “neutral” rating to a “buy” rating and set a $15.00 price target for the company in a report on Friday, November 8th. B. Riley raised 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 research note on Monday, November 11th.

Universal Electronics Trading Down 0.6 %

Shares of Universal Electronics stock traded down $0.07 during trading hours on Friday, reaching $10.83. The stock had a trading volume of 61,604 shares, compared to its average volume of 62,876. The stock’s 50 day moving average is $10.17 and its 200 day moving average is $10.22. Universal Electronics has a twelve month low of $7.53 and a twelve month high of $14.20. The firm has a market capitalization of $141.09 million, a PE ratio of -5.28 and a beta of 1.20.

Insider Activity

In related 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 value of $154,660.05. Following the completion of the transaction, the chief executive officer now directly owns 283,615 shares of the company’s stock, valued at approximately $3,326,803.95. This represents a 4.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward K. Zinser sold 2,500 shares of Universal Electronics stock in a transaction 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 sale, the director now directly 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. Company insiders own 9.37% of the company’s stock.

Institutional Investors Weigh In On Universal Electronics

A number of hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC grew its stake in Universal Electronics by 9.1% during the 2nd quarter. Acadian Asset Management LLC now owns 499,940 shares of the technology company’s stock valued at $5,804,000 after acquiring an additional 41,795 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Universal Electronics by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 392,822 shares of the technology company’s stock valued at $4,565,000 after purchasing an additional 13,495 shares in the last quarter. American Century Companies Inc. lifted its position in Universal Electronics by 24.8% during the second quarter. American Century Companies Inc. now owns 165,845 shares of the technology company’s stock worth $1,927,000 after buying an additional 32,911 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Universal Electronics by 15.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,979 shares of the technology company’s stock worth $609,000 after buying an additional 8,706 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Universal Electronics by 4.3% in 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 in the last quarter. 79.35% of the stock is currently owned by institutional investors and hedge funds.

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.