Universal Electronics (NASDAQ:UEIC) PT Raised to $11.00

Universal Electronics (NASDAQ:UEIC) had its target price hoisted by stock analysts at B. Riley from $10.50 to $11.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. B. Riley’s price objective suggests a potential downside of 15.38% from the stock’s current price.

UEIC has been the subject of a number of other research reports. StockNews.com upgraded Universal Electronics from a “hold” rating to a “buy” rating in a report on Friday, March 15th. Rosenblatt Securities restated a “neutral” rating and set a $15.00 price objective on shares of Universal Electronics in a report on Friday, May 3rd.

Universal Electronics Stock Performance

Shares of UEIC opened at $13.00 on Monday. The business’s fifty day moving average price is $9.91 and its two-hundred day moving average price is $8.95. The firm has a market capitalization of $168.61 million, a price-to-earnings ratio of -3.68 and a beta of 1.07. Universal Electronics has a 52 week low of $7.02 and a 52 week high of $13.15.

Universal Electronics (NASDAQ:UEIC) last posted its quarterly earnings results on Thursday, February 15th. The technology company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.28). The firm had revenue of $97.59 million during the quarter, compared to the consensus estimate of $97.52 million. Universal Electronics had a negative net margin of 11.27% and a negative return on equity of 22.59%. As a group, research analysts forecast that Universal Electronics will post -0.31 EPS for the current year.

Institutional Investors Weigh In On Universal Electronics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James & Associates increased its holdings in Universal Electronics by 17.2% during the 3rd quarter. Raymond James & Associates now owns 15,044 shares of the technology company’s stock worth $136,000 after purchasing an additional 2,206 shares in the last quarter. Marquette Asset Management LLC bought a new position in shares of Universal Electronics during the first quarter worth about $159,000. Howland Capital Management LLC raised its position in Universal Electronics by 20.9% in the 4th quarter. Howland Capital Management LLC now owns 21,042 shares of the technology company’s stock valued at $198,000 after buying an additional 3,642 shares during the last quarter. Barclays PLC lifted its stake in Universal Electronics by 58.2% in the 3rd quarter. Barclays PLC now owns 25,988 shares of the technology company’s stock valued at $235,000 after acquiring an additional 9,557 shares in the last quarter. Finally, Empowered Funds LLC boosted its position in Universal Electronics by 8.0% during the 1st quarter. Empowered Funds LLC now owns 37,956 shares of the technology company’s stock worth $380,000 after acquiring an additional 2,800 shares during 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.