Universal Electronics (NASDAQ:UEIC) Upgraded at B. Riley

B. Riley upgraded shares of Universal Electronics (NASDAQ:UEIC) from a neutral rating to a buy rating in a research report released on Monday, Marketbeat reports. They currently have $14.00 price target on the technology company’s stock, up from their previous price target of $11.00.

UEIC has been the topic of several other research reports. StockNews.com raised shares of Universal Electronics from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. Rosenblatt Securities upgraded shares of Universal Electronics from a “neutral” rating to a “buy” rating and set a $15.00 target price on the stock in a research note on Friday, November 8th.

Universal Electronics Stock Performance

NASDAQ:UEIC opened at $10.71 on Monday. The company has a market capitalization of $139.55 million, a PE ratio of -5.22 and a beta of 1.13. Universal Electronics has a fifty-two week low of $7.17 and a fifty-two week high of $14.20. The company has a 50 day simple moving average of $8.73 and a two-hundred day simple moving average of $10.29.

Insider Transactions at Universal Electronics

In other Universal Electronics news, 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 transaction, the director now directly owns 38,062 shares of the company’s stock, valued at $406,502.16. This trade represents a 6.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 9.37% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UEIC. Bank of New York Mellon Corp purchased a new position in Universal Electronics in the 2nd quarter worth approximately $122,000. Sei Investments Co. purchased a new position in shares of Universal Electronics during the second quarter valued at about $212,000. Empowered Funds LLC raised its stake in Universal Electronics by 8.0% in the first quarter. Empowered Funds LLC now owns 37,956 shares of the technology company’s stock worth $380,000 after buying an additional 2,800 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Universal Electronics by 4.3% in 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 Universal Electronics by 15.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,979 shares of the technology company’s stock valued at $609,000 after acquiring an additional 8,706 shares in the last quarter. 79.35% of the stock is currently owned by hedge funds and other 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.