Universal Electronics (NASDAQ:UEIC) Cut to Buy at StockNews.com

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

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

Universal Electronics Trading Up 2.6 %

NASDAQ:UEIC opened at $10.56 on Friday. The stock has a 50 day simple moving average of $11.04 and a 200 day simple moving average of $10.06. The stock has a market cap of $137.58 million, a P/E ratio of -5.15, a PEG ratio of 3.85 and a beta of 1.20. Universal Electronics has a 1-year low of $7.53 and a 1-year high of $14.20.

Insider Buying and Selling at Universal Electronics

In related news, Director Edward K. Zinser sold 2,500 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $406,502.16. This trade represents a 6.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Paul D. Arling sold 13,185 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was 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 of the company’s stock, valued at approximately $3,326,803.95. The trade was a 4.44 % decrease in their position. The disclosure for this sale can be found here. Insiders own 9.37% of the company’s stock.

Institutional Investors Weigh In On Universal Electronics

Several hedge funds and other institutional investors have recently made changes to their positions in UEIC. Bank of New York Mellon Corp bought a new position in Universal Electronics in the 2nd quarter valued at approximately $122,000. American Century Companies Inc. lifted its stake in shares of Universal Electronics by 24.8% in the 2nd quarter. American Century Companies Inc. now owns 165,845 shares of the technology company’s stock valued at $1,927,000 after acquiring an additional 32,911 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Universal Electronics by 3.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 392,822 shares of the technology company’s stock valued at $4,565,000 after acquiring an additional 13,495 shares during the last quarter. Sei Investments Co. acquired a new stake in shares of Universal Electronics during the 2nd quarter valued at $212,000. Finally, Victory Capital Management Inc. grew its position in Universal Electronics by 4.3% during 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 during the last quarter. 79.35% of the stock is 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.