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

Universal Electronics (NASDAQ:UEIC) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

Universal Electronics Price Performance

Shares of Universal Electronics stock traded down $0.03 on Thursday, reaching $8.59. 79,259 shares of the company traded hands, compared to its average volume of 58,330. The company has a 50 day moving average of $10.08 and a 200 day moving average of $10.57. Universal Electronics has a 52 week low of $7.02 and a 52 week high of $14.20. The firm has a market capitalization of $111.50 million, a PE ratio of -2.43 and a beta of 1.14.

Universal Electronics (NASDAQ:UEIC) last announced its quarterly earnings data on Thursday, August 8th. The technology company reported ($0.20) earnings per share 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 net margin of 11.19% and a negative return on equity of 19.41%. As a group, analysts anticipate that Universal Electronics will post -0.62 earnings per share for the current year.

Hedge Funds Weigh In On Universal Electronics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Universal Electronics by 1.5% in the first quarter. Vanguard Group Inc. now owns 555,163 shares of the technology company’s stock worth $5,557,000 after acquiring an additional 7,994 shares during the period. Acadian Asset Management LLC boosted its stake in Universal Electronics by 9.1% in the 2nd quarter. Acadian Asset Management LLC now owns 499,940 shares of the technology company’s stock worth $5,804,000 after purchasing an additional 41,795 shares during the period. AMH Equity Ltd grew its holdings in Universal Electronics by 23.0% during the 1st quarter. AMH Equity Ltd now owns 491,968 shares of the technology company’s stock valued at $4,925,000 after buying an additional 91,968 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Universal Electronics by 3.6% during the second quarter. Dimensional Fund Advisors LP now owns 392,822 shares of the technology company’s stock valued at $4,565,000 after buying an additional 13,495 shares during the period. Finally, Pacific Ridge Capital Partners LLC lifted its holdings in shares of Universal Electronics by 15.2% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 380,573 shares of the technology company’s stock worth $3,574,000 after buying an additional 50,117 shares in the last quarter. Institutional investors 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.