Universal Electronics (NASDAQ:UEIC) Upgraded at Rosenblatt Securities

Universal Electronics (NASDAQ:UEIC) was upgraded by stock analysts at Rosenblatt Securities from a “neutral” rating to a “buy” rating in a report issued on Friday, Marketbeat.com reports. The brokerage presently has a $15.00 target price on the technology company’s stock. Rosenblatt Securities’ price objective indicates a potential upside of 78.15% from the stock’s current price.

Separately, StockNews.com upgraded shares of Universal Electronics from a “hold” rating to a “buy” rating in a report on Thursday, September 19th.

Universal Electronics Stock Down 0.1 %

Shares of UEIC stock opened at $8.42 on Friday. The firm has a fifty day moving average of $8.57 and a 200-day moving average of $10.25. Universal Electronics has a 12-month low of $7.17 and a 12-month high of $14.20. The company has a market capitalization of $109.29 million, a price-to-earnings ratio of -2.51 and a beta of 1.13.

Universal Electronics (NASDAQ:UEIC) last announced its earnings results on Thursday, August 8th. The technology company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.01). Universal Electronics had a negative return on equity of 19.41% and a negative net margin of 11.19%. The business had revenue of $90.45 million for the quarter, compared to analyst estimates of $94.86 million. On average, equities analysts expect that Universal Electronics will post -0.62 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Empowered Funds LLC grew its position in shares of Universal Electronics by 8.0% in the 1st quarter. Empowered Funds LLC now owns 37,956 shares of the technology company’s stock valued at $380,000 after acquiring an additional 2,800 shares during the period. First Eagle Investment Management LLC grew its position in shares of Universal Electronics by 5.1% in the 1st quarter. First Eagle Investment Management LLC now owns 206,175 shares of the technology company’s stock valued at $2,064,000 after acquiring an additional 10,096 shares during the period. Vanguard Group Inc. grew its position in shares of Universal Electronics by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 555,163 shares of the technology company’s stock valued at $5,557,000 after acquiring an additional 7,994 shares during the period. Kent Lake Capital LLC bought a new stake in shares of Universal Electronics during the 1st quarter worth about $1,588,000. Finally, Ancora Advisors LLC boosted its holdings in shares of Universal Electronics by 7.2% during the 1st quarter. Ancora Advisors LLC now owns 269,834 shares of the technology company’s stock worth $2,701,000 after buying an additional 18,050 shares during the period. Institutional investors and hedge funds own 79.35% of the company’s stock.

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.