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

Rosenblatt Securities reissued their neutral rating on shares of Universal Electronics (NASDAQ:UEIC) in a report released on Friday morning, Benzinga reports. Rosenblatt Securities currently has a $15.00 target price on the technology company’s stock.

A number of other equities research analysts also recently issued reports on the stock. B. Riley upped their price objective on shares of Universal Electronics from $9.00 to $10.50 and gave the stock a neutral rating in a research report on Friday, February 16th. StockNews.com raised Universal Electronics from a hold rating to a buy rating in a research report on Friday, March 15th.

Universal Electronics Stock Up 0.3 %

UEIC stock traded up $0.03 during mid-day trading on Friday, reaching $11.22. 57,057 shares of the company traded hands, compared to its average volume of 38,056. The stock has a market cap of $145.52 million, a price-to-earnings ratio of -3.18 and a beta of 1.07. Universal Electronics has a fifty-two week low of $7.02 and a fifty-two week high of $11.84. The firm’s 50 day moving average price is $9.75 and its 200 day moving average price is $8.88.

Universal Electronics (NASDAQ:UEIC) last announced its quarterly earnings results on Thursday, February 15th. The technology company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.28). Universal Electronics had a negative return on equity of 22.07% and a negative net margin of 11.27%. The company had revenue of $97.59 million for the quarter, compared to the consensus estimate of $97.52 million. On average, analysts anticipate that Universal Electronics will post -0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Universal Electronics

Several large investors have recently modified their holdings of the stock. Raymond James & Associates raised its stake in shares of Universal Electronics by 17.2% in the third quarter. Raymond James & Associates now owns 15,044 shares of the technology company’s stock valued at $136,000 after buying an additional 2,206 shares during the period. Howland Capital Management LLC lifted its holdings in Universal Electronics by 20.9% during the 4th quarter. Howland Capital Management LLC now owns 21,042 shares of the technology company’s stock worth $198,000 after purchasing an additional 3,642 shares in the last quarter. Barclays PLC grew its holdings in Universal Electronics by 58.2% during the 3rd quarter. Barclays PLC now owns 25,988 shares of the technology company’s stock valued at $235,000 after buying an additional 9,557 shares in the last quarter. Quadrature Capital Ltd lifted its holdings in shares of Universal Electronics by 129.3% in the third quarter. Quadrature Capital Ltd now owns 39,149 shares of the technology company’s stock worth $354,000 after buying an additional 22,075 shares in the last quarter. Finally, Clearstead Advisors LLC lifted its stake in Universal Electronics by 2.8% in the 3rd 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. Hedge funds and other institutional investors 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.