Universal Electronics (NASDAQ:UEIC) Earns “Buy” Rating from Rosenblatt Securities

Universal Electronics (NASDAQ:UEIC)‘s stock had its “buy” rating reaffirmed by stock analysts at Rosenblatt Securities in a report issued on Friday,Benzinga reports. They currently have a $15.00 price objective on the technology company’s stock. Rosenblatt Securities’ target price would indicate a potential upside of 84.05% from the stock’s previous close.

A number of other analysts also recently weighed in on UEIC. B. Riley raised shares of Universal Electronics from a “neutral” rating to a “buy” rating and increased their target price for the company from $11.00 to $14.00 in a research report on Monday, November 11th. StockNews.com downgraded shares of Universal Electronics from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 18th.

Universal Electronics Stock Down 11.6 %

UEIC opened at $8.15 on Friday. Universal Electronics has a twelve month low of $7.53 and a twelve month high of $14.20. The company has a 50-day simple moving average of $10.29 and a 200 day simple moving average of $9.76. The stock has a market capitalization of $106.18 million, a price-to-earnings ratio of -4.41, a P/E/G ratio of 3.62 and a beta of 1.19.

Universal Electronics (NASDAQ:UEIC) last issued its earnings results on Thursday, February 20th. The technology company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.04). The business had revenue of $110.45 million for the quarter, compared to analyst estimates of $102.47 million. Universal Electronics had a negative return on equity of 3.67% and a negative net margin of 6.09%. Sell-side analysts anticipate that Universal Electronics will post 0.17 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Paul D. Arling sold 13,185 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $11.73, for a total value of $154,660.05. Following the sale, the chief executive officer now directly owns 283,615 shares in the company, valued at approximately $3,326,803.95. The trade was a 4.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 9.37% of the company’s stock.

Institutional Investors Weigh In On Universal Electronics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in shares of Universal Electronics during the fourth quarter worth about $33,000. OMERS ADMINISTRATION Corp bought a new position in Universal Electronics in the fourth quarter worth $121,000. Schonfeld Strategic Advisors LLC bought a new position in Universal Electronics in the fourth quarter worth $139,000. Jane Street Group LLC purchased a new stake in shares of Universal Electronics in the third quarter worth $163,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Universal Electronics by 34.7% in the third 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 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.