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

StockNews.com downgraded shares of Universal Electronics (NASDAQ:UEIC) from a strong-buy rating to a buy rating in a research report sent to investors on Friday.

UEIC has been the topic of a number of other research reports. Rosenblatt Securities upgraded Universal Electronics from a “neutral” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Friday, November 8th. B. Riley raised Universal Electronics from a “neutral” rating to a “buy” rating and raised their price target for the company from $11.00 to $14.00 in a report on Monday, November 11th.

Universal Electronics Stock Down 0.6 %

Shares of UEIC opened at $10.83 on Friday. Universal Electronics has a twelve month low of $7.53 and a twelve month high of $14.20. The stock has a market cap of $141.09 million, a PE ratio of -5.28 and a beta of 1.20. The business’s 50-day moving average price is $10.17 and its 200-day moving average price is $10.22.

Insider Transactions at Universal Electronics

In other Universal Electronics news, CEO Paul D. Arling sold 13,185 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $11.73, for a total value of $154,660.05. Following the completion of the sale, the chief executive officer now owns 283,615 shares of the company’s stock, valued at $3,326,803.95. This represents a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward K. Zinser sold 2,500 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $10.68, for a total transaction of $26,700.00. Following the transaction, the director now directly owns 38,062 shares in the company, valued at approximately $406,502.16. This represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. 9.37% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Universal Electronics

Several institutional investors and hedge funds have recently bought and sold shares of UEIC. Barclays PLC increased its position in shares of Universal Electronics by 33.5% in the third quarter. Barclays PLC now owns 21,943 shares of the technology company’s stock valued at $202,000 after acquiring an additional 5,512 shares during the period. Jane Street Group LLC bought a new stake in shares of Universal Electronics in the third quarter worth about $163,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Universal Electronics by 15.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,979 shares of the technology company’s stock valued at $609,000 after purchasing an additional 8,706 shares during the period. Empowered Funds LLC grew its position in shares of Universal Electronics by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 42,980 shares of the technology company’s stock worth $397,000 after buying an additional 2,144 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of Universal Electronics by 4.3% in the 3rd quarter. Victory Capital Management Inc. now owns 53,703 shares of the technology company’s stock worth $496,000 after acquiring an additional 2,203 shares in the last quarter. 79.35% of the stock is currently owned by 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.