Universal Electronics (NASDAQ:UEIC) Upgraded at Rosenblatt Securities

Rosenblatt Securities upgraded shares of Universal Electronics (NASDAQ:UEIC) from a neutral rating to a buy rating in a research note issued to investors on Friday morning, MarketBeat Ratings reports. The brokerage currently has $15.00 target price on the technology company’s stock.

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

Universal Electronics Trading Up 31.7 %

Shares of NASDAQ UEIC opened at $11.09 on Friday. The firm has a market cap of $143.95 million, a price-to-earnings ratio of -5.41 and a beta of 1.13. The stock has a fifty day simple moving average of $8.60 and a two-hundred day simple moving average of $10.27. Universal Electronics has a 1-year low of $7.17 and a 1-year high of $14.20.

Universal Electronics (NASDAQ:UEIC) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). Universal Electronics had a negative return on equity of 8.50% and a negative net margin of 6.96%. The company had revenue of $90.45 million during the quarter, compared to the consensus estimate of $94.86 million. Analysts forecast that Universal Electronics will post -0.62 EPS for the current year.

Institutional Trading of Universal Electronics

Several hedge funds and other institutional investors have recently bought and sold shares of UEIC. Bank of New York Mellon Corp purchased a new position in shares of Universal Electronics during the second quarter worth approximately $122,000. Sei Investments Co. purchased a new stake in Universal Electronics during the second quarter valued at about $212,000. Empowered Funds LLC increased 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 worth $380,000 after buying an additional 2,800 shares during the period. Victory Capital Management Inc. boosted its stake 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 valued at $496,000 after purchasing an additional 2,203 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Universal Electronics by 15.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,979 shares of the technology company’s stock worth $609,000 after purchasing an additional 8,706 shares during the last quarter. Hedge funds and other 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.