Universal Electronics (NASDAQ:UEIC) Upgraded at StockNews.com

StockNews.com upgraded shares of Universal Electronics (NASDAQ:UEIC) from a buy rating to a strong-buy rating in a research note published on Thursday.

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

Universal Electronics Trading Down 0.3 %

Shares of UEIC stock opened at $11.47 on Thursday. Universal Electronics has a twelve month low of $7.53 and a twelve month high of $14.20. The business’s 50 day moving average is $9.93 and its two-hundred day moving average is $10.21.

Insider Activity at Universal Electronics

In other Universal Electronics news, CEO Paul D. Arling sold 13,185 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $11.73, for a total value of $154,660.05. Following the completion of the sale, the chief executive officer now owns 283,615 shares of the company’s stock, valued at approximately $3,326,803.95. This trade represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward K. Zinser sold 2,500 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $10.68, for a total transaction of $26,700.00. Following the sale, the director now owns 38,062 shares in the company, valued at $406,502.16. The trade was a 6.16 % 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 Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp purchased a new stake in shares of Universal Electronics during the 2nd quarter worth approximately $122,000. Jane Street Group LLC acquired a new position in Universal Electronics during the third quarter worth $163,000. Sei Investments Co. purchased a new stake in Universal Electronics during the second quarter worth $212,000. Barclays PLC grew its holdings in Universal Electronics by 33.5% in the third quarter. Barclays PLC now owns 21,943 shares of the technology company’s stock valued at $202,000 after purchasing an additional 5,512 shares during the last quarter. Finally, Empowered Funds LLC increased its position 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 in 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.