Universal Electronics (NASDAQ:UEIC) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Universal Electronics Inc. (NASDAQ:UEIC) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.16 and traded as high as $10.94. Universal Electronics shares last traded at $10.85, with a volume of 18,879 shares trading hands.

Wall Street Analysts Forecast Growth

UEIC has been the subject of a number of research analyst reports. B. Riley raised shares of Universal Electronics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $11.00 to $14.00 in a report on Monday, November 11th. StockNews.com downgraded shares of Universal Electronics from a “strong-buy” rating to a “buy” rating in a report on Friday, December 20th. Finally, Rosenblatt Securities raised shares of Universal Electronics from a “neutral” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Friday, November 8th.

Universal Electronics Stock Up 0.6 %

The stock’s 50 day moving average is $10.45 and its 200-day moving average is $10.16. The company has a market cap of $141.35 million, a PE ratio of -5.29 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 transaction of $26,700.00. Following the transaction, the director now owns 38,062 shares in the company, valued at $406,502.16. The trade was a 6.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Paul D. Arling sold 13,185 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was 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 $3,326,803.95. This trade represents a 4.44 % decrease in their position. The disclosure for this sale can be found here. 9.37% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Universal Electronics

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp bought a new stake in Universal Electronics during the 2nd quarter valued at $122,000. Acadian Asset Management LLC raised its holdings in shares of Universal Electronics by 9.1% in the second quarter. Acadian Asset Management LLC now owns 499,940 shares of the technology company’s stock valued at $5,804,000 after acquiring an additional 41,795 shares in the last quarter. American Century Companies Inc. lifted its stake in Universal Electronics by 24.8% in the second quarter. American Century Companies Inc. now owns 165,845 shares of the technology company’s stock worth $1,927,000 after acquiring an additional 32,911 shares during the period. Dimensional Fund Advisors LP grew its holdings in Universal Electronics by 3.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 392,822 shares of the technology company’s stock worth $4,565,000 after acquiring an additional 13,495 shares in the last quarter. Finally, Sei Investments Co. purchased a new position in Universal Electronics during the 2nd quarter valued at about $212,000. 79.35% of the stock is currently owned by institutional investors.

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.