Universal Electronics (NASDAQ:UEIC) Downgraded by StockNews.com to “Buy”

StockNews.com lowered shares of Universal Electronics (NASDAQ:UEIC) from a strong-buy rating to a buy rating in a research note published on Saturday morning.

Other equities research analysts have also recently issued reports about the stock. B. Riley raised shares of Universal Electronics from a “neutral” rating to a “buy” rating and boosted their price target for the company from $11.00 to $14.00 in a research report on Monday, November 11th. Rosenblatt Securities reissued a “buy” rating and issued a $15.00 price target on shares of Universal Electronics in a research report on Friday, February 21st.

Universal Electronics Trading Down 1.9 %

Universal Electronics stock opened at $7.79 on Friday. The stock has a market cap of $101.49 million, a P/E ratio of -4.21, a price-to-earnings-growth ratio of 3.62 and a beta of 1.19. The company has a fifty day simple moving average of $9.98 and a 200-day simple moving average of $9.70. Universal Electronics has a 12-month low of $7.53 and a 12-month high of $14.20.

Universal Electronics (NASDAQ:UEIC) last announced its quarterly earnings results on Thursday, February 20th. The technology company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). Universal Electronics had a negative net margin of 6.09% and a negative return on equity of 3.67%. The company had revenue of $110.45 million during the quarter, compared to analysts’ expectations of $102.47 million. As a group, sell-side analysts forecast that Universal Electronics will post 0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Universal Electronics

In other Universal Electronics news, 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 transaction, the chief executive officer now directly owns 283,615 shares in the company, valued at approximately $3,326,803.95. The trade was a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.37% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Empowered Funds LLC increased its stake in Universal Electronics by 4.7% in the fourth quarter. Empowered Funds LLC now owns 45,014 shares of the technology company’s stock valued at $495,000 after purchasing an additional 2,034 shares during the period. Victory Capital Management Inc. raised its holdings in Universal Electronics by 4.3% during the third quarter. Victory Capital Management Inc. now owns 53,703 shares of the technology company’s stock worth $496,000 after purchasing an additional 2,203 shares in the last quarter. Kennedy Capital Management LLC raised its holdings in Universal Electronics by 8.7% during the fourth quarter. Kennedy Capital Management LLC now owns 32,593 shares of the technology company’s stock worth $359,000 after purchasing an additional 2,606 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Universal Electronics during the fourth quarter worth about $33,000. Finally, First Eagle Investment Management LLC raised its holdings in Universal Electronics by 2.2% during the fourth quarter. First Eagle Investment Management LLC now owns 163,936 shares of the technology company’s stock worth $1,803,000 after purchasing an additional 3,500 shares in the last quarter. 79.35% of the stock is currently owned by institutional investors and hedge funds.

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.