Universal Electronics (NASDAQ:UEIC) Stock Crosses Above 200-Day Moving Average - Here's Why

Universal Electronics Inc. (NASDAQ:UEIC - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.22 and traded as high as $11.14. Universal Electronics shares last traded at $10.90, with a volume of 58,622 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on UEIC shares. B. Riley upgraded Universal Electronics from a "neutral" rating to a "buy" rating and lifted their price target for the company from $11.00 to $14.00 in a research report on Monday, November 11th. StockNews.com lowered Universal Electronics from a "strong-buy" rating to a "buy" rating in a report on Friday. Finally, Rosenblatt Securities raised shares of Universal Electronics from a "neutral" rating to a "buy" rating and set a $15.00 price target on the stock in a report on Friday, November 8th.

Universal Electronics Trading Down 0.6 %

The business's fifty day moving average price is $10.17 and its 200-day moving average price is $10.22. The company has a market capitalization of $141.09 million, a P/E ratio of -5.28 and a beta of 1.20.

Insiders Place Their Bets

In other Universal Electronics news, Director Edward K. Zinser sold 2,500 shares of the business's stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $10.68, for a total value of $26,700.00. Following the completion of the sale, the director now directly owns 38,062 shares of the company's stock, valued at $406,502.16. The trade was a 6.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Paul D. Arling sold 13,185 shares of the firm's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $11.73, for a total value of $154,660.05. Following the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. Corporate insiders own 9.37% of the company's stock.

Institutional Trading of Universal Electronics

A number of institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp purchased a new stake in shares of Universal Electronics during the second quarter worth about $122,000. Jane Street Group LLC purchased a new stake in Universal Electronics in the 3rd quarter worth approximately $163,000. Sei Investments Co. bought a new stake in shares of Universal Electronics in the 2nd quarter worth approximately $212,000. Barclays PLC grew its position in shares of Universal Electronics by 33.5% in the 3rd 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, Empowered Funds LLC increased its stake in shares of Universal Electronics by 5.3% during the third quarter. Empowered Funds LLC now owns 42,980 shares of the technology company's stock valued at $397,000 after buying an additional 2,144 shares during the period. Hedge funds and other institutional investors own 79.35% of the company's stock.

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.