Universal Electronics (NASDAQ:UEIC) Price Target Raised to $11.00

Universal Electronics (NASDAQ:UEIC) had its price target raised by B. Riley from $10.50 to $11.00 in a report released on Monday, Benzinga reports. B. Riley currently has a neutral rating on the technology company’s stock.

UEIC has been the subject of a number of other reports. Rosenblatt Securities reissued a neutral rating and issued a $15.00 target price on shares of Universal Electronics in a report on Friday, May 3rd. StockNews.com raised Universal Electronics from a hold rating to a buy rating in a report on Friday, March 15th.

Universal Electronics Price Performance

Shares of UEIC stock opened at $13.65 on Monday. Universal Electronics has a one year low of $7.02 and a one year high of $14.20. The stock has a fifty day moving average price of $10.02 and a 200 day moving average price of $8.98. The stock has a market cap of $177.01 million, a P/E ratio of -3.87 and a beta of 1.07.

Universal Electronics (NASDAQ:UEIC) last released its quarterly earnings data on Thursday, February 15th. The technology company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.28). The business had revenue of $97.59 million for the quarter, compared to the consensus estimate of $97.52 million. Universal Electronics had a negative return on equity of 22.59% and a negative net margin of 11.27%. Equities research analysts anticipate that Universal Electronics will post -0.31 EPS for the current year.

Institutional Investors Weigh In On Universal Electronics

A number of large investors have recently bought and sold shares of the business. Clearstead Advisors LLC boosted its stake in Universal Electronics by 2.8% in the third quarter. Clearstead Advisors LLC now owns 45,434 shares of the technology company’s stock worth $411,000 after purchasing an additional 1,250 shares in the last quarter. Quadrature Capital Ltd lifted its position in Universal Electronics by 4.9% during the 4th quarter. Quadrature Capital Ltd now owns 41,085 shares of the technology company’s stock worth $387,000 after buying an additional 1,936 shares in the last quarter. Raymond James & Associates grew its holdings in Universal Electronics by 17.2% during the 3rd quarter. Raymond James & Associates now owns 15,044 shares of the technology company’s stock worth $136,000 after acquiring an additional 2,206 shares during the last quarter. Empowered Funds LLC grew its holdings in Universal Electronics by 8.0% during the 1st quarter. Empowered Funds LLC now owns 37,956 shares of the technology company’s stock worth $380,000 after acquiring an additional 2,800 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Universal Electronics by 6.1% in the 3rd quarter. Victory Capital Management Inc. now owns 58,600 shares of the technology company’s stock valued at $530,000 after acquiring an additional 3,385 shares in the last quarter. 79.35% of the stock is currently 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.