Universal Electronics (NASDAQ:UEIC) Upgraded to “Buy” at StockNews.com

Universal Electronics (NASDAQ:UEIC) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

Separately, B. Riley lifted their target price on shares of Universal Electronics from $10.50 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, May 6th.

Universal Electronics Price Performance

UEIC stock opened at $9.03 on Tuesday. The stock has a market capitalization of $117.21 million, a P/E ratio of -2.56 and a beta of 1.14. Universal Electronics has a 1-year low of $7.02 and a 1-year high of $14.20. The business has a fifty day moving average price of $10.62 and a 200-day moving average price of $10.57.

Universal Electronics (NASDAQ:UEIC) last released its quarterly earnings data on Thursday, August 8th. The technology company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The business had revenue of $90.45 million during the quarter, compared to the consensus estimate of $94.86 million. Universal Electronics had a negative return on equity of 19.41% and a negative net margin of 11.19%. As a group, analysts anticipate that Universal Electronics will post -0.36 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of UEIC. Kent Lake Capital LLC purchased a new position in Universal Electronics during the first quarter valued at $1,588,000. AMH Equity Ltd grew its stake in shares of Universal Electronics by 23.0% during the 1st quarter. AMH Equity Ltd now owns 491,968 shares of the technology company’s stock valued at $4,925,000 after acquiring an additional 91,968 shares during the period. Pacific Ridge Capital Partners LLC increased its holdings in Universal Electronics by 15.2% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 380,573 shares of the technology company’s stock worth $3,574,000 after acquiring an additional 50,117 shares in the last quarter. Acadian Asset Management LLC raised its stake in Universal Electronics by 9.1% during the 2nd quarter. Acadian Asset Management LLC now owns 499,940 shares of the technology company’s stock worth $5,804,000 after acquiring an additional 41,795 shares during the period. Finally, First Eagle Investment Management LLC lifted its holdings in Universal Electronics by 26.7% during the fourth quarter. First Eagle Investment Management LLC now owns 196,079 shares of the technology company’s stock valued at $1,841,000 after purchasing an additional 41,352 shares in the last quarter. Hedge funds and other institutional investors 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.