Universal Electronics (NASDAQ:UEIC) Upgraded at Rosenblatt Securities

Universal Electronics (NASDAQ:UEIC - Get Free Report) was upgraded by equities researchers at Rosenblatt Securities from a "neutral" rating to a "buy" rating in a report issued on Friday, MarketBeat reports. The firm presently has a $15.00 price objective on the technology company's stock. Rosenblatt Securities' price target would suggest a potential upside of 35.26% from the stock's previous close.

Separately, StockNews.com upgraded Universal Electronics from a "hold" rating to a "buy" rating in a report on Thursday, September 19th.

Universal Electronics Price Performance

Shares of UEIC stock traded up $2.67 during trading hours on Friday, reaching $11.09. 186,335 shares of the company traded hands, compared to its average volume of 63,640. The firm has a 50-day moving average price of $8.57 and a 200 day moving average price of $10.25. The company has a market cap of $143.95 million, a P/E ratio of -5.37 and a beta of 1.13. 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 posted its earnings results on Thursday, August 8th. The technology company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.01). Universal Electronics had a negative net margin of 11.19% and a negative return on equity of 19.41%. The firm had revenue of $90.45 million for the quarter, compared to the consensus estimate of $94.86 million. Sell-side analysts predict that Universal Electronics will post -0.62 EPS for the current year.

Institutional Trading of Universal Electronics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp purchased a new position in Universal Electronics during the 2nd quarter worth $122,000. Sei Investments Co. purchased a new position in shares of Universal Electronics during the second quarter valued at $212,000. Empowered Funds LLC raised its holdings in shares of Universal Electronics by 8.0% in the first quarter. Empowered Funds LLC now owns 37,956 shares of the technology company's stock valued at $380,000 after acquiring an additional 2,800 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Universal Electronics by 4.3% in the third quarter. Victory Capital Management Inc. now owns 53,703 shares of the technology company's stock worth $496,000 after acquiring an additional 2,203 shares during the period. Finally, Kent Lake Capital LLC purchased a new stake in Universal Electronics in the first quarter worth about $1,588,000. 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.