Universal Electronics (NASDAQ:UEIC) Raised to “Buy” at Rosenblatt Securities

Rosenblatt Securities upgraded shares of Universal Electronics (NASDAQ:UEIC) from a neutral rating to a buy rating in a research report released on Friday, MarketBeat reports. They currently have $15.00 target price on the technology company’s stock.

Separately, StockNews.com upgraded shares of Universal Electronics from a “hold” rating to a “buy” rating in a report on Thursday, September 19th.

Universal Electronics Stock Performance

UEIC opened at $10.98 on Friday. Universal Electronics has a 52 week low of $7.17 and a 52 week high of $14.20. The firm has a market capitalization of $142.52 million, a PE ratio of -5.36 and a beta of 1.13. The company has a fifty day moving average price of $8.64 and a two-hundred day moving average price of $10.28.

Institutional Trading of Universal Electronics

Large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp bought a new stake in shares of Universal Electronics during the second quarter worth $122,000. Sei Investments Co. acquired a new stake in shares of Universal Electronics in the 2nd quarter valued at about $212,000. Empowered Funds LLC lifted its holdings in shares of Universal Electronics by 8.0% in the first quarter. Empowered Funds LLC now owns 37,956 shares of the technology company’s stock valued at $380,000 after purchasing an additional 2,800 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Universal Electronics by 4.3% during the third quarter. Victory Capital Management Inc. now owns 53,703 shares of the technology company’s stock worth $496,000 after buying an additional 2,203 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Universal Electronics by 15.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,979 shares of the technology company’s stock worth $609,000 after buying an additional 8,706 shares during the period. 79.35% of the stock is owned by institutional investors.

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.