Universal Electronics (NASDAQ:UEIC) Receives Buy Rating from Rosenblatt Securities

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

UEIC has been the subject of a number of other research reports. B. Riley upgraded 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 lowered Universal Electronics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday.

Universal Electronics Stock Performance

Shares of NASDAQ:UEIC opened at $9.22 on Friday. Universal Electronics has a 52-week low of $7.53 and a 52-week high of $14.20. The stock has a market capitalization of $120.14 million, a price-to-earnings ratio of -4.50, a PEG ratio of 3.78 and a beta of 1.19. The stock’s 50-day simple moving average is $10.36 and its two-hundred day simple moving average is $9.79.

Universal Electronics (NASDAQ:UEIC) last announced its earnings results on Thursday, February 20th. The technology company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates 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%. As a group, equities analysts forecast that Universal Electronics will post -0.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Universal Electronics

In other Universal Electronics 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 value of $154,660.05. Following the sale, the chief executive officer now owns 283,615 shares in the company, valued at $3,326,803.95. This trade represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 9.37% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Two Sigma Advisers LP boosted its position in Universal Electronics by 36.2% in the 4th quarter. Two Sigma Advisers LP now owns 78,200 shares of the technology company’s stock valued at $860,000 after buying an additional 20,800 shares during the period. OMERS ADMINISTRATION Corp purchased a new position in shares of Universal Electronics during the fourth quarter worth approximately $121,000. Millennium Management LLC raised its stake in shares of Universal Electronics by 63.9% during the fourth quarter. Millennium Management LLC now owns 62,972 shares of the technology company’s stock valued at $693,000 after acquiring an additional 24,541 shares in the last quarter. Ancora Advisors LLC purchased a new stake in shares of Universal Electronics in the fourth quarter valued at approximately $1,703,000. Finally, 683 Capital Management LLC bought a new position in Universal Electronics in the fourth quarter worth approximately $326,000. 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.