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

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

Separately, B. Riley boosted their price objective on shares of Universal Electronics from $10.50 to $11.00 and gave the company a “neutral” rating in a research report on Monday, May 6th.

Universal Electronics Stock Up 1.1 %

Shares of NASDAQ UEIC opened at $9.32 on Tuesday. The stock has a market capitalization of $120.97 million, a P/E ratio of -2.64 and a beta of 1.14. The stock’s 50 day moving average price is $10.72 and its two-hundred day moving average price is $10.57. Universal Electronics has a 52-week low of $7.02 and a 52-week high of $14.20.

Universal Electronics (NASDAQ:UEIC) last announced its quarterly earnings data on Thursday, August 8th. The technology company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The firm had revenue of $90.45 million for the quarter, compared to the consensus estimate of $94.86 million. Universal Electronics had a negative return on equity of 19.41% and a negative net margin of 11.19%. On average, analysts anticipate that Universal Electronics will post -0.36 EPS for the current year.

Hedge Funds Weigh In On Universal Electronics

Several hedge funds and other institutional investors have recently modified their holdings of UEIC. Quadrature Capital Ltd boosted its position in shares of Universal Electronics by 4.9% during the fourth quarter. Quadrature Capital Ltd now owns 41,085 shares of the technology company’s stock worth $387,000 after buying an additional 1,936 shares during the period. 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 period. Trexquant Investment LP grew its stake in shares of Universal Electronics by 7.1% in the fourth quarter. Trexquant Investment LP now owns 58,135 shares of the technology company’s stock worth $546,000 after purchasing an additional 3,873 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Universal Electronics by 1.5% during the first quarter. Vanguard Group Inc. now owns 555,163 shares of the technology company’s stock valued at $5,557,000 after purchasing an additional 7,994 shares during the period. Finally, First Eagle Investment Management LLC increased its holdings in shares of Universal Electronics by 5.1% during the first quarter. First Eagle Investment Management LLC now owns 206,175 shares of the technology company’s stock valued at $2,064,000 after purchasing an additional 10,096 shares during the period. Institutional investors and hedge funds own 79.35% of the company’s stock.

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.