StockNews.com downgraded shares of Universal Electronics (NASDAQ:UEIC - Free Report) from a strong-buy rating to a buy rating in a research report released on Saturday morning.
A number of other analysts have also recently commented on the company. Rosenblatt Securities reissued a "buy" rating and issued a $15.00 price target on shares of Universal Electronics in a research report on Friday, February 21st. B. Riley raised Universal Electronics from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $11.00 to $14.00 in a research report on Monday, November 11th.
Read Our Latest Stock Analysis on UEIC
Universal Electronics Trading Down 3.1 %
Universal Electronics stock traded down $0.23 during trading hours on Friday, hitting $7.16. 202,559 shares of the stock traded hands, compared to its average volume of 72,726. The firm's 50-day moving average price is $9.92 and its two-hundred day moving average price is $9.69. The company has a market cap of $93.28 million, a PE ratio of -3.87, a PEG ratio of 3.62 and a beta of 1.19. Universal Electronics has a one year low of $7.00 and a one year high of $14.20.
Universal Electronics (NASDAQ:UEIC - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $110.45 million for the quarter, compared to the consensus estimate of $102.47 million. Universal Electronics had a negative net margin of 6.09% and a negative return on equity of 3.67%. On average, sell-side analysts expect that Universal Electronics will post 0.17 earnings per share for the current fiscal year.
Insider Transactions at Universal Electronics
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. Insiders own 9.37% of the company's stock.
Hedge Funds Weigh In On Universal Electronics
Hedge funds have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in Universal Electronics in the 4th quarter worth approximately $33,000. OMERS ADMINISTRATION Corp purchased a new position in Universal Electronics in the 4th quarter worth approximately $121,000. Schonfeld Strategic Advisors LLC purchased a new position in Universal Electronics in the 4th quarter worth approximately $139,000. Jane Street Group LLC purchased a new position in Universal Electronics in the 3rd quarter worth approximately $163,000. Finally, JPMorgan Chase & Co. raised its holdings in Universal Electronics by 34.7% in the 3rd 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 last quarter. 79.35% of the stock is currently owned by hedge funds and other institutional investors.
About Universal Electronics
(
Get Free Report)
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.
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