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

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

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

Universal Electronics Trading Down 0.6 %

NASDAQ:UEIC opened at $10.22 on Thursday. The company has a 50-day moving average of $10.88 and a 200-day moving average of $10.13. 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 twelve month low of $7.53 and a twelve month high of $14.20.

Insider Transactions at Universal Electronics

In other news, CEO Paul D. Arling sold 13,185 shares of the firm’s 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 sale, the chief executive officer now owns 283,615 shares of the company’s stock, valued at $3,326,803.95. This trade represents a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Edward K. Zinser sold 2,500 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $10.68, for a total value 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. 9.37% of the stock is currently owned by insiders.

Institutional Trading of Universal Electronics

A number of hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp acquired a new position in Universal Electronics in the 2nd quarter valued at approximately $122,000. Acadian Asset Management LLC increased its stake in shares of Universal Electronics by 9.1% in the second quarter. Acadian Asset Management LLC now owns 499,940 shares of the technology company’s stock worth $5,804,000 after acquiring an additional 41,795 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of 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 acquiring an additional 32,911 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Universal Electronics by 3.6% during 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 during the last quarter. Finally, Sei Investments Co. purchased a new position in Universal Electronics in the second quarter valued at about $212,000. 79.35% of the stock is owned by hedge funds and other institutional investors.

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.