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

StockNews.com lowered shares of Universal Electronics (NASDAQ:UEIC) from a strong-buy rating to a buy rating in a research report sent to investors on Friday.

Other research analysts have also issued reports about the stock. B. Riley raised shares of Universal Electronics from a “neutral” rating to a “buy” rating and raised their target price for the company from $11.00 to $14.00 in a report on Monday, November 11th. Rosenblatt Securities raised shares of Universal Electronics from a “neutral” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Friday, November 8th.

Universal Electronics Price Performance

NASDAQ UEIC opened at $10.56 on Friday. Universal Electronics has a 1-year low of $7.53 and a 1-year high of $14.20. The business has a 50 day simple moving average of $11.04 and a two-hundred day simple moving average of $10.08. The stock has a market capitalization of $137.60 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 other news, Director Edward K. Zinser sold 2,500 shares of the firm’s stock in a transaction dated 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 owns 38,062 shares in the company, valued at approximately $406,502.16. This trade represents a 6.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Paul D. Arling sold 13,185 shares of Universal Electronics stock in a transaction dated 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 ownership of the stock. 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

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp bought a new position in Universal Electronics in the 2nd quarter valued at $122,000. Jane Street Group LLC bought a new position in shares of Universal Electronics in the third quarter worth about $163,000. JPMorgan Chase & Co. increased its stake in Universal Electronics by 34.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,823 shares of the technology company’s stock worth $165,000 after buying an additional 4,591 shares during the period. Barclays PLC lifted its holdings in Universal Electronics by 33.5% during the 3rd quarter. Barclays PLC now owns 21,943 shares of the technology company’s stock valued at $202,000 after buying an additional 5,512 shares in the last quarter. Finally, Sei Investments Co. purchased a new stake in Universal Electronics in the 2nd quarter valued at about $212,000. 79.35% of the stock is currently owned by hedge funds and other institutional investors.

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.