Universal Electronics’ (UEIC) “Buy” Rating Reaffirmed at Rosenblatt Securities

Universal Electronics (NASDAQ:UEIC)‘s stock had its “buy” rating reaffirmed by equities research analysts at Rosenblatt Securities in a note issued to investors on Friday,Benzinga reports. They presently have a $15.00 price target on the technology company’s stock. Rosenblatt Securities’ target price suggests a potential upside of 62.69% from the stock’s previous close.

Several other brokerages have also issued reports on UEIC. B. Riley upgraded shares of Universal Electronics from a “neutral” rating to a “buy” rating and increased their price target for the stock from $11.00 to $14.00 in a research note on Monday, November 11th. StockNews.com cut shares of Universal Electronics from a “strong-buy” rating to a “buy” rating in a report on Tuesday.

Universal Electronics Stock Performance

UEIC stock opened at $9.22 on Friday. Universal Electronics has a fifty-two week low of $7.53 and a fifty-two week high of $14.20. The company has a market capitalization of $120.14 million, a price-to-earnings ratio of -4.50, a price-to-earnings-growth ratio of 3.78 and a beta of 1.19. The business’s 50 day moving average price is $10.36 and its two-hundred day moving average price is $9.79.

Universal Electronics (NASDAQ:UEIC) last issued its quarterly earnings results on Thursday, February 20th. The technology company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). Universal Electronics had a negative return on equity of 8.61% and a negative net margin of 6.96%. Sell-side analysts forecast that Universal Electronics will post -0.59 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Paul D. Arling sold 13,185 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $11.73, for a total value of $154,660.05. Following the completion of the transaction, the chief executive officer now directly owns 283,615 shares in the company, valued at $3,326,803.95. The trade was a 4.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 9.37% of the company’s stock.

Institutional Trading of Universal Electronics

Several institutional investors have recently added to or reduced their stakes in UEIC. SBI Securities Co. Ltd. bought a new position in shares of Universal Electronics during the fourth quarter valued at $33,000. OMERS ADMINISTRATION Corp purchased a new position in Universal Electronics in the 4th quarter worth about $121,000. Schonfeld Strategic Advisors LLC bought a new position in Universal Electronics during the 4th quarter valued at about $139,000. Jane Street Group LLC purchased a new stake in shares of Universal Electronics during the 3rd quarter valued at about $163,000. Finally, JPMorgan Chase & Co. grew its stake 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 worth $165,000 after acquiring an additional 4,591 shares during the period. 79.35% of the stock is currently owned by hedge funds and other institutional investors.

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.