Universal Electronics (NASDAQ:UEIC) Raised to “Strong-Buy” at StockNews.com

Universal Electronics (NASDAQ:UEIC) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Thursday.

A number of other research firms have also recently issued reports on UEIC. B. Riley raised shares of Universal Electronics from a “neutral” rating to a “buy” rating and raised their price target for the stock from $11.00 to $14.00 in a report on Monday, November 11th. Rosenblatt Securities raised Universal Electronics from a “neutral” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Friday, November 8th.

Universal Electronics Stock Down 0.6 %

Shares of UEIC traded down $0.06 during mid-day trading on Thursday, hitting $10.22. 33,714 shares of the company traded hands, compared to its average volume of 40,243. The company has a market capitalization of $133.15 million, a PE ratio of -4.99 and a beta of 1.20. The business has a 50 day moving average of $10.88 and a 200 day moving average of $10.13. Universal Electronics has a 1-year low of $7.53 and a 1-year high of $14.20.

Insider Activity

In other Universal Electronics news, Director Edward K. Zinser sold 2,500 shares of the company’s 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 owns 38,062 shares in the company, valued at approximately $406,502.16. This represents a 6.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Paul D. Arling sold 13,185 shares of Universal Electronics stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $11.73, for a total transaction of $154,660.05. Following the transaction, the chief executive officer now directly owns 283,615 shares of the company’s stock, valued at approximately $3,326,803.95. This trade represents a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.37% of the company’s stock.

Institutional Trading of Universal Electronics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new position in shares of Universal Electronics during the 2nd quarter valued at approximately $122,000. Acadian Asset Management LLC lifted its holdings in Universal Electronics by 9.1% during the second quarter. Acadian Asset Management LLC now owns 499,940 shares of the technology company’s stock valued at $5,804,000 after purchasing an additional 41,795 shares in the last quarter. American Century Companies Inc. grew its position in shares of Universal Electronics by 24.8% in the second quarter. American Century Companies Inc. now owns 165,845 shares of the technology company’s stock valued at $1,927,000 after purchasing an additional 32,911 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Universal Electronics by 3.6% during the second quarter. Dimensional Fund Advisors LP now owns 392,822 shares of the technology company’s stock worth $4,565,000 after purchasing an additional 13,495 shares in the last quarter. Finally, Sei Investments Co. acquired a new position in shares of Universal Electronics during the 2nd quarter worth about $212,000. Institutional investors and hedge funds 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.