Universal Electronics (NASDAQ:UEIC) Upgraded to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Universal Electronics (NASDAQ:UEIC) from a buy rating to a strong-buy rating in a research report report published on Monday,Wall Street Zen reports.

Other research analysts also recently issued research reports about the stock. Zacks Research upgraded shares of Universal Electronics to a “hold” rating in a research report on Monday, October 5th. Rosenblatt Securities reissued a “neutral” rating and set a $5.00 target price on shares of Universal Electronics in a research note on Friday, August 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Universal Electronics in a report on Friday, September 18th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Universal Electronics presently has an average rating of “Reduce” and a consensus target price of $5.00.

Universal Electronics Price Performance

NASDAQ UEIC opened at $5.90 on Monday. The stock has a market capitalization of $76.05 million, a P/E ratio of -10.35 and a beta of 1.30. The business has a 50 day simple moving average of $5.16 and a 200 day simple moving average of $4.50. Universal Electronics has a one year low of $2.69 and a one year high of $6.01.

Universal Electronics (NASDAQ:UEIC) last issued its quarterly earnings results on Thursday, November 5th. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.07. The firm had revenue of $89.42 million for the quarter, compared to analyst estimates of $76.97 million. Universal Electronics had a positive return on equity of 2.70% and a negative net margin of 4.57%. Equities analysts expect that Universal Electronics will post 0.25 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Toro 18 Holdings Llc sold 105,541 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $4.63, for a total transaction of $488,654.83. Following the transaction, the insider directly owned 1,101,832 shares of the company’s stock, valued at approximately $5,101,482.16. This represents a 8.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 242,815 shares of company stock worth $1,157,304. 17.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Universal Electronics

A number of hedge funds have recently added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new stake in shares of Universal Electronics during the second quarter valued at approximately $83,000. Hsbc Holdings PLC bought a new position in shares of Universal Electronics in the 2nd quarter worth $108,000. Man Group plc bought a new position in shares of Universal Electronics in the 2nd quarter worth $241,000. Empowered Funds LLC lifted its holdings in shares of Universal Electronics by 4.7% in the 1st quarter. Empowered Funds LLC now owns 69,266 shares of the technology company’s stock worth $285,000 after purchasing an additional 3,088 shares in the last quarter. Finally, Marquette Asset Management LLC acquired a new stake in Universal Electronics in the 2nd quarter valued at $303,000. Institutional investors and hedge funds own 79.35% of the company’s stock.

Universal Electronics Company Profile

Universal Electronics Inc (NASDAQ: UEIC) designs, develops and distributes consumer electronics products and technologies that simplify the control of home entertainment and smart-home devices. Its offerings include universal remote controls, wireless home-control products, audio and video accessories, and related software and connected-device solutions.

The company serves original equipment manufacturers, subscription television providers, retailers and consumers. Its products are marketed under the One For All and other company brands, as well as through private-label and licensed-brand arrangements.