Universal Electronics (NASDAQ:UEIC) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Universal Electronics Inc. (NASDAQ:UEIC)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.88 and traded as high as $9.99. Universal Electronics shares last traded at $9.50, with a volume of 146,879 shares changing hands.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Rosenblatt Securities raised shares of Universal Electronics from a “neutral” rating to a “buy” rating and set a $15.00 price target for the company in a report on Friday, November 8th. B. Riley raised Universal Electronics from a “neutral” rating to a “buy” rating and raised their target price for the company from $11.00 to $14.00 in a report on Monday, November 11th. Finally, StockNews.com raised Universal Electronics from a “buy” rating to a “strong-buy” rating in a research note on Monday.

Universal Electronics Trading Down 4.0 %

The business has a 50-day moving average of $10.71 and a two-hundred day moving average of $9.88. The firm has a market cap of $123.79 million, a P/E ratio of -4.63, a price-to-earnings-growth ratio of 3.96 and a beta of 1.19.

Insider Activity

In other Universal Electronics news, CEO Paul D. Arling sold 13,185 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $11.73, for a total value of $154,660.05. Following the sale, the chief executive officer now owns 283,615 shares in the company, valued at approximately $3,326,803.95. The trade was a 4.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 9.37% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in UEIC. SBI Securities Co. Ltd. bought a new position in shares of Universal Electronics during the 4th quarter worth approximately $33,000. Jane Street Group LLC acquired a new stake in shares of Universal Electronics in the 3rd quarter valued at about $163,000. JPMorgan Chase & Co. increased its position in Universal Electronics by 34.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,823 shares of the technology company’s stock valued at $165,000 after buying an additional 4,591 shares in the last quarter. Barclays PLC raised its stake in Universal Electronics by 33.5% during the 3rd quarter. Barclays PLC now owns 21,943 shares of the technology company’s stock worth $202,000 after buying an additional 5,512 shares during the period. Finally, Empowered Funds LLC raised its stake in Universal Electronics by 5.3% during the 3rd 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 period. 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.