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

StockNews.com cut shares of Universal Electronics (NASDAQ:UEIC) from a strong-buy rating to a buy rating in a report published on Friday.

UEIC has been the subject of a number of other research reports. 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 report on Friday, November 8th. B. Riley upgraded Universal Electronics from a “neutral” rating to a “buy” rating and boosted their price target for the company from $11.00 to $14.00 in a research note on Monday, November 11th.

Universal Electronics Stock Performance

UEIC opened at $10.83 on Friday. The stock has a fifty day moving average of $10.22 and a 200-day moving average of $10.21. The company has a market capitalization of $141.09 million, a P/E ratio of -5.28 and a beta of 1.20. Universal Electronics has a fifty-two week low of $7.53 and a fifty-two week high of $14.20.

Insider Activity at Universal Electronics

In other Universal Electronics news, CEO Paul D. Arling sold 13,185 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $11.73, for a total transaction of $154,660.05. Following the completion of the transaction, the chief executive officer now directly owns 283,615 shares in the company, valued at $3,326,803.95. The trade was a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Edward K. Zinser sold 2,500 shares of the firm’s stock in a transaction on 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 directly owns 38,062 shares in the company, valued at approximately $406,502.16. This represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. 9.37% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of UEIC. Bank of New York Mellon Corp bought a new position in shares of Universal Electronics in the second quarter worth about $122,000. Jane Street Group LLC bought a new position in Universal Electronics in the 3rd quarter valued at approximately $163,000. Sei Investments Co. acquired a new stake in Universal Electronics in the second quarter valued at approximately $212,000. Barclays PLC boosted its position 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 buying an additional 5,512 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in shares of Universal Electronics by 5.3% during the third quarter. Empowered Funds LLC now owns 42,980 shares of the technology company’s stock worth $397,000 after buying an additional 2,144 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.