StockNews.com Upgrades Universal Electronics (NASDAQ:UEIC) to Strong-Buy

Universal Electronics (NASDAQ:UEIC) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday.

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

Universal Electronics Price Performance

Universal Electronics stock opened at $9.40 on Monday. The business has a 50 day simple moving average of $10.65 and a 200-day simple moving average of $9.86. Universal Electronics has a 12 month low of $7.53 and a 12 month high of $14.20. The stock has a market capitalization of $122.48 million, a PE ratio of -4.59, a price-to-earnings-growth ratio of 3.96 and a beta of 1.19.

Insiders Place Their Bets

In other Universal Electronics news, CEO Paul D. Arling sold 13,185 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $11.73, for a total transaction 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. This represents a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 9.37% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Universal Electronics

A number of hedge funds and other institutional investors have recently modified their holdings of UEIC. SBI Securities Co. Ltd. purchased a new position in Universal Electronics in the 4th quarter valued at approximately $33,000. Jane Street Group LLC acquired a new stake in Universal Electronics in the third quarter valued at $163,000. JPMorgan Chase & Co. increased its position in shares of Universal Electronics by 34.7% in the third quarter. JPMorgan Chase & Co. now owns 17,823 shares of the technology company’s stock valued at $165,000 after buying an additional 4,591 shares in the last quarter. Barclays PLC raised its stake in shares of Universal Electronics by 33.5% during the 3rd quarter. Barclays PLC now owns 21,943 shares of the technology company’s stock worth $202,000 after buying an additional 5,512 shares during the last quarter. Finally, Sei Investments Co. boosted its position in shares of Universal Electronics by 21.4% in the 4th quarter. Sei Investments Co. now owns 22,144 shares of the technology company’s stock worth $244,000 after buying an additional 3,909 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.