Universal Electronics (NASDAQ:UEIC) Cut to “Buy” at StockNews.com

Universal Electronics (NASDAQ:UEIC) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday.

UEIC has been the subject of several other reports. B. Riley raised Universal Electronics from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $11.00 to $14.00 in a report on Monday, November 11th. Rosenblatt Securities raised Universal Electronics from a “neutral” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Friday, November 8th.

Universal Electronics Stock Down 2.9 %

Shares of NASDAQ:UEIC opened at $9.65 on Tuesday. Universal Electronics has a 12-month low of $7.53 and a 12-month high of $14.20. The company’s 50 day moving average price is $10.40 and its two-hundred day moving average price is $9.79. The firm has a market cap of $125.74 million, a PE ratio of -4.71, a PEG ratio of 3.84 and a beta of 1.19.

Insider Activity at Universal Electronics

In related news, CEO Paul D. Arling sold 13,185 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $11.73, for a total value of $154,660.05. Following the sale, the chief executive officer now directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. 9.37% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC boosted its holdings in shares of 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 acquiring an additional 5,512 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Universal Electronics by 34.7% during the third quarter. JPMorgan Chase & Co. now owns 17,823 shares of the technology company’s stock valued at $165,000 after purchasing an additional 4,591 shares in 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 stake in shares of Universal Electronics by 5.3% in the third quarter. Empowered Funds LLC now owns 42,980 shares of the technology company’s stock valued at $397,000 after buying an additional 2,144 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings 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 buying an additional 8,706 shares during the last quarter. Institutional investors own 79.35% of the company’s stock.

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.