Universal Electronics (NASDAQ:UEIC) Upgraded to "Buy" at B. Riley

Universal Electronics (NASDAQ:UEIC - Get Free Report) was upgraded by stock analysts at B. Riley from a "neutral" rating to a "buy" rating in a research note issued to investors on Monday, Marketbeat Ratings reports. The firm presently has a $14.00 price target on the technology company's stock, up from their previous price target of $11.00. B. Riley's price objective would suggest a potential upside of 27.04% from the company's previous close.

A number of other equities research analysts also recently issued reports on UEIC. 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 research note on Friday. StockNews.com upgraded shares of Universal Electronics from a "hold" rating to a "buy" rating in a research report on Thursday, September 19th.

Universal Electronics Price Performance

Universal Electronics stock traded down $0.07 during midday trading on Monday, reaching $11.02. 63,937 shares of the company traded hands, compared to its average volume of 63,663. The firm has a market capitalization of $143.04 million, a price-to-earnings ratio of -5.41 and a beta of 1.13. The business has a 50 day moving average of $8.60 and a two-hundred day moving average of $10.27. Universal Electronics has a 12 month low of $7.17 and a 12 month high of $14.20.

Universal Electronics (NASDAQ:UEIC - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The technology company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.01). The firm had revenue of $90.45 million during the quarter, compared to analysts' expectations of $94.86 million. Universal Electronics had a negative return on equity of 8.50% and a negative net margin of 6.96%. As a group, equities analysts forecast that Universal Electronics will post -0.62 EPS for the current year.

Hedge Funds Weigh In On Universal Electronics

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Universal Electronics by 1.5% in the first quarter. Vanguard Group Inc. now owns 555,163 shares of the technology company's stock worth $5,557,000 after buying an additional 7,994 shares in the last quarter. Acadian Asset Management LLC raised its stake in Universal Electronics by 9.1% during the 2nd quarter. Acadian Asset Management LLC now owns 499,940 shares of the technology company's stock worth $5,804,000 after acquiring an additional 41,795 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Universal Electronics by 3.6% during the second quarter. Dimensional Fund Advisors LP now owns 392,822 shares of the technology company's stock valued at $4,565,000 after purchasing an additional 13,495 shares in the last quarter. Ancora Advisors LLC boosted its position in shares of Universal Electronics by 7.2% in the first quarter. Ancora Advisors LLC now owns 269,834 shares of the technology company's stock worth $2,701,000 after purchasing an additional 18,050 shares during the period. Finally, First Eagle Investment Management LLC increased its stake in shares of Universal Electronics by 5.1% in the first quarter. First Eagle Investment Management LLC now owns 206,175 shares of the technology company's stock worth $2,064,000 after purchasing an additional 10,096 shares in the last quarter. 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.