Universal Electronics (NASDAQ:UEIC) Raised to Buy at Rosenblatt Securities

Universal Electronics (NASDAQ:UEIC) was upgraded by equities research analysts at Rosenblatt Securities from a “neutral” rating to a “buy” rating in a research note issued on Friday, MarketBeat.com reports. The brokerage currently has a $15.00 price objective on the technology company’s stock. Rosenblatt Securities’ price objective suggests a potential upside of 35.26% from the stock’s current price.

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

Universal Electronics Price Performance

UEIC opened at $11.09 on Friday. The company’s 50 day simple moving average is $8.60 and its two-hundred day simple moving average is $10.27. The firm has a market capitalization of $143.95 million, a price-to-earnings ratio of -5.41 and a beta of 1.13. 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 earnings results on Thursday, August 8th. The technology company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.01). Universal Electronics had a negative net margin of 11.19% and a negative return on equity of 19.41%. The company had revenue of $90.45 million during the quarter, compared to analyst estimates of $94.86 million. On average, equities analysts anticipate that Universal Electronics will post -0.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Universal Electronics by 1.5% in the first quarter. Vanguard Group Inc. now owns 555,163 shares of the technology company’s stock valued at $5,557,000 after buying an additional 7,994 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Universal Electronics by 9.1% in the 2nd quarter. Acadian Asset Management LLC now owns 499,940 shares of the technology company’s stock valued at $5,804,000 after acquiring an additional 41,795 shares during the period. Dimensional Fund Advisors LP increased its stake in Universal Electronics by 3.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 392,822 shares of the technology company’s stock worth $4,565,000 after buying an additional 13,495 shares during the period. Ancora Advisors LLC increased its stake in Universal Electronics by 7.2% during the 1st quarter. Ancora Advisors LLC now owns 269,834 shares of the technology company’s stock worth $2,701,000 after buying an additional 18,050 shares during the period. Finally, First Eagle Investment Management LLC increased its position in shares of Universal Electronics by 5.1% in the 1st quarter. First Eagle Investment Management LLC now owns 206,175 shares of the technology company’s stock worth $2,064,000 after purchasing an additional 10,096 shares during the last quarter. 79.35% of the stock is 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.