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 analysts have also 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 target on the stock in a research report on Friday, November 8th. B. Riley raised shares of Universal Electronics from a “neutral” rating to a “buy” rating and upped their target price for the company from $11.00 to $14.00 in a report on Monday, November 11th.

Universal Electronics Stock Performance

Shares of NASDAQ UEIC opened at $9.83 on Thursday. The stock has a market capitalization of $128.07 million, a PE ratio of -4.80 and a beta of 1.20. Universal Electronics has a 52 week low of $7.53 and a 52 week high of $14.20. The stock has a 50 day moving average price of $10.91 and a 200 day moving average price of $10.11.

Insider Buying and Selling

In other news, CEO Paul D. Arling sold 13,185 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $11.73, for a total transaction of $154,660.05. Following the transaction, the chief executive officer now owns 283,615 shares in the company, valued at approximately $3,326,803.95. This trade represents 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 accessible through this link. Also, Director Edward K. Zinser sold 2,500 shares of Universal Electronics stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $10.68, for a total value of $26,700.00. Following the sale, the director now directly owns 38,062 shares of the company’s stock, valued at approximately $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. 9.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Universal Electronics

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp acquired a new position in Universal Electronics in the 2nd quarter valued at $122,000. Jane Street Group LLC bought a new stake in shares of Universal Electronics during the 3rd quarter worth approximately $163,000. JPMorgan Chase & Co. boosted its position in shares of Universal Electronics by 34.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,823 shares of the technology company’s stock worth $165,000 after acquiring an additional 4,591 shares in the last quarter. Sei Investments Co. bought a new position in Universal Electronics in the second quarter valued at approximately $212,000. Finally, Barclays PLC raised its position in Universal Electronics by 33.5% during 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 in the last quarter. 79.35% of the stock is currently owned by institutional investors and hedge funds.

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.