Wall Street Zen Upgrades Universal Electronics (NASDAQ:UEIC) to “Strong-Buy”

Universal Electronics (NASDAQ:UEIC) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Monday, Wall Street Zen reports.

Several other equities analysts have also commented on the stock. Zacks Research raised shares of Universal Electronics to a “hold” rating in a research report on Monday, October 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Universal Electronics in a research note on Friday, September 18th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $5.00 target price on shares of Universal Electronics in a report on Friday, August 7th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Universal Electronics has a consensus rating of “Reduce” and an average price target of $5.00.

Universal Electronics Stock Performance

Shares of NASDAQ UEIC opened at $5.39 on Monday. The firm has a market cap of $69.53 million, a P/E ratio of -9.46 and a beta of 1.30. Universal Electronics has a 1 year low of $2.69 and a 1 year high of $6.04. The firm’s 50 day moving average price is $5.17 and its 200 day moving average price is $4.51.

Universal Electronics (NASDAQ:UEIC) last posted its quarterly earnings data on Thursday, November 5th. The technology company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.07. Universal Electronics had a positive return on equity of 4.02% and a negative net margin of 2.16%. The business had revenue of $89.42 million for the quarter, compared to analysts’ expectations of $76.97 million. As a group, equities analysts predict that Universal Electronics will post 0.25 EPS for the current year.

Insider Buying and Selling

In other Universal Electronics news, insider Toro 18 Holdings Llc sold 105,541 shares of Universal Electronics stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $4.63, for a total value of $488,654.83. Following the completion of the transaction, the insider directly owned 1,101,832 shares in the company, valued at $5,101,482.16. The trade was a 8.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 242,815 shares of company stock valued at $1,157,304 over the last three months. Insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Universal Electronics

Institutional investors and hedge funds have recently bought and sold shares of the stock. GSA Capital Partners LLP acquired a new stake in Universal Electronics in the second quarter worth approximately $83,000. Hsbc Holdings PLC bought a new stake in Universal Electronics in the second quarter worth about $108,000. Man Group plc bought a new position in shares of Universal Electronics during the 2nd quarter valued at about $241,000. Marquette Asset Management LLC acquired a new position in shares of Universal Electronics in the 2nd quarter worth approximately $303,000. Finally, Empowered Funds LLC raised its holdings in shares of Universal Electronics by 4.7% in the 1st quarter. Empowered Funds LLC now owns 69,266 shares of the technology company’s stock worth $285,000 after purchasing an additional 3,088 shares in the last quarter. Institutional investors own 79.35% of the company’s stock.

Universal Electronics Company Profile

Universal Electronics Inc. (NASDAQ: UEIC) designs, develops and distributes consumer electronics products and technologies that simplify the control of home entertainment and smart-home devices. Its offerings include universal remote controls, wireless home-control products, audio and video accessories, and related software and connected-device solutions. The company serves original equipment manufacturers, subscription television providers, retailers and consumers. Its products are marketed under the One For All and other company brands, as well as through private-label and licensed-brand arrangements.