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

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

UEIC has been the subject of several other research reports. 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 research report on Friday, November 8th. B. Riley upgraded Universal Electronics from a “neutral” rating to a “buy” rating and upped their target price for the stock from $11.00 to $14.00 in a report on Monday, November 11th.

Universal Electronics Price Performance

UEIC stock opened at $10.56 on Friday. Universal Electronics has a 1-year low of $7.53 and a 1-year high of $14.20. The business has a 50-day moving average price of $11.04 and a 200 day moving average price of $10.08. The company has a market capitalization of $137.60 million, a P/E ratio of -5.15, a PEG ratio of 3.85 and a beta of 1.20.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Universal Electronics

Institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp acquired a new position in shares of Universal Electronics during the second quarter valued at about $122,000. Jane Street Group LLC purchased a new stake in Universal Electronics during the 3rd quarter worth approximately $163,000. JPMorgan Chase & Co. increased its stake in Universal Electronics by 34.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,823 shares of the technology company’s stock valued at $165,000 after purchasing an additional 4,591 shares in the last quarter. Barclays PLC raised its holdings 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 worth $202,000 after buying an additional 5,512 shares during the last quarter. Finally, Sei Investments Co. acquired a new stake in shares of Universal Electronics during the second quarter worth $212,000. Institutional investors and hedge funds 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.