Universal Electronics (NASDAQ:UEIC) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Universal Electronics Inc. (NASDAQ:UEIC)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.22 and traded as high as $11.14. Universal Electronics shares last traded at $10.90, with a volume of 58,622 shares trading hands.

Wall Street Analysts Forecast Growth

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

Universal Electronics Trading Down 0.6 %

The company has a market capitalization of $141.09 million, a PE ratio of -5.28 and a beta of 1.20. The business has a fifty day moving average of $10.22 and a 200 day moving average of $10.22.

Insider Activity

In other news, Director Edward K. Zinser sold 2,500 shares of the stock in a transaction 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 in the company, valued at approximately $406,502.16. This trade represents a 6.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Paul D. Arling sold 13,185 shares of Universal Electronics stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $11.73, for a total value of $154,660.05. Following the completion of the transaction, the chief executive officer now 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

Large investors have recently made changes to their positions in the company. Acadian Asset Management LLC grew its holdings in Universal Electronics by 9.1% during the 2nd quarter. Acadian Asset Management LLC now owns 499,940 shares of the technology company’s stock worth $5,804,000 after acquiring an additional 41,795 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Universal Electronics by 24.8% during the 2nd quarter. American Century Companies Inc. now owns 165,845 shares of the technology company’s stock worth $1,927,000 after purchasing an additional 32,911 shares during the last quarter. Sei Investments Co. acquired a new position in shares of Universal Electronics during the second quarter worth $212,000. Jane Street Group LLC purchased a new position in Universal Electronics in the third quarter valued at $163,000. Finally, Dimensional Fund Advisors LP raised its stake in Universal Electronics by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 392,822 shares of the technology company’s stock valued at $4,565,000 after buying an additional 13,495 shares in the last quarter. 79.35% of the stock is currently owned by hedge funds and other institutional investors.

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.