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

StockNews.com downgraded shares of Universal Electronics (NASDAQ:UEIC) from a strong-buy rating to a buy rating in a report released on Friday.

A number of other equities analysts also recently weighed in on UEIC. B. Riley raised shares of Universal Electronics from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $11.00 to $14.00 in a research note on Monday, November 11th. Rosenblatt Securities raised Universal Electronics from a “neutral” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Friday, November 8th.

Universal Electronics Stock Performance

NASDAQ:UEIC opened at $10.56 on Friday. Universal Electronics has a fifty-two week low of $7.53 and a fifty-two week high of $14.20. The company has a 50 day simple moving average of $11.04 and a two-hundred day simple moving average of $10.06. The company has a market capitalization of $137.58 million, a PE ratio of -5.15, a P/E/G ratio of 3.85 and a beta of 1.20.

Insider Transactions at Universal Electronics

In related news, CEO Paul D. Arling sold 13,185 shares of the company’s stock in a transaction that occurred 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 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward K. Zinser sold 2,500 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 38,062 shares of the company’s stock, valued at $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

A number of large investors have recently modified their holdings of the company. Barclays PLC raised its holdings in Universal Electronics by 33.5% during the third quarter. Barclays PLC now owns 21,943 shares of the technology company’s stock worth $202,000 after buying an additional 5,512 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Universal Electronics during the third quarter worth about $163,000. Empowered Funds LLC increased its position in shares of Universal Electronics by 5.3% during the third 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 in the last quarter. Sei Investments Co. acquired a new stake in shares of Universal Electronics in the 2nd quarter worth about $212,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Universal Electronics by 15.2% in the 3rd 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. 79.35% of the stock is currently owned by 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.