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

Universal Electronics (NASDAQ:UEIC) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Tuesday.

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

Universal Electronics Trading Up 0.3 %

UEIC opened at $9.79 on Tuesday. The company’s 50 day moving average is $10.48 and its 200 day moving average is $9.80. The company has a market cap of $127.56 million, a price-to-earnings ratio of -4.78, a PEG ratio of 3.96 and a beta of 1.19. Universal Electronics has a 12-month low of $7.53 and a 12-month high of $14.20.

Insider Transactions at Universal Electronics

In other news, CEO Paul D. Arling sold 13,185 shares of Universal Electronics 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 9.37% of the company’s stock.

Hedge Funds Weigh In On Universal Electronics

Several institutional investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in shares of Universal Electronics during the 4th quarter worth approximately $33,000. OMERS ADMINISTRATION Corp bought a new stake in Universal Electronics in the fourth quarter worth $121,000. Schonfeld Strategic Advisors LLC purchased a new stake in Universal Electronics during the fourth quarter valued at $139,000. Jane Street Group LLC bought a new position in Universal Electronics during the third quarter valued at $163,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Universal Electronics by 34.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,823 shares of the technology company’s stock worth $165,000 after buying an additional 4,591 shares in the last quarter. Hedge funds and other institutional investors own 79.35% of the company’s stock.

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.