Universal Electronics (NASDAQ:UEIC) Downgraded to "Buy" Rating by StockNews.com

Universal Electronics (NASDAQ:UEIC - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a report issued on Friday.

A number of other equities analysts have also recently commented on the company. Rosenblatt Securities upgraded Universal Electronics from a "neutral" rating to a "buy" rating and set a $15.00 price target for the company in a report on Friday, November 8th. B. Riley upgraded Universal Electronics from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $11.00 to $14.00 in a research note on Monday, November 11th.

Universal Electronics Price Performance

Shares of UEIC traded up $0.25 during mid-day trading on Friday, hitting $10.54. 34,670 shares of the company's stock were exchanged, compared to its average volume of 44,189. Universal Electronics has a 52 week low of $7.53 and a 52 week high of $14.20. The company has a 50-day simple moving average of $11.05 and a 200 day simple moving average of $10.08. The company has a market cap of $137.38 million, a PE ratio of -5.13, a P/E/G ratio of 3.85 and a beta of 1.20.

Insider Activity at Universal Electronics

In related news, Director Edward K. Zinser sold 2,500 shares of the company's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $10.68, for a total value of $26,700.00. Following the transaction, the director now directly owns 38,062 shares in the company, valued at approximately $406,502.16. This represents a 6.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Paul D. Arling sold 13,185 shares of Universal Electronics stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $11.73, for a total transaction of $154,660.05. Following the completion of the sale, the chief executive officer now owns 283,615 shares of the company's stock, valued at approximately $3,326,803.95. The trade was a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.37% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new stake in Universal Electronics in the second quarter valued at about $122,000. Jane Street Group LLC bought a new position in Universal Electronics in the 3rd quarter valued at approximately $163,000. JPMorgan Chase & Co. boosted its position in Universal Electronics by 34.7% in the third quarter. JPMorgan Chase & Co. now owns 17,823 shares of the technology company's stock valued at $165,000 after buying an additional 4,591 shares in the last quarter. Barclays PLC grew its stake in shares of Universal Electronics by 33.5% during the third quarter. Barclays PLC now owns 21,943 shares of the technology company's stock worth $202,000 after buying an additional 5,512 shares during the last quarter. Finally, Sei Investments Co. acquired a new position in shares of Universal Electronics during the second quarter worth $212,000. 79.35% of the stock is owned by 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.