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

B. Riley upgraded shares of Universal Electronics (NASDAQ:UEIC) from a neutral rating to a buy rating in a report released on Monday, MarketBeat Ratings reports. They currently have $14.00 price objective on the technology company’s stock, up from their previous price objective of $11.00.

Several other research analysts have also recently commented on UEIC. Rosenblatt Securities raised Universal Electronics from a “neutral” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Friday, November 8th. StockNews.com upgraded Universal Electronics from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th.

Universal Electronics Trading Up 1.7 %

Shares of UEIC stock opened at $10.71 on Monday. The firm’s fifty day moving average price is $8.73 and its two-hundred day moving average price is $10.29. Universal Electronics has a 1 year low of $7.17 and a 1 year high of $14.20. The firm has a market capitalization of $139.55 million, a P/E ratio of -5.22 and a beta of 1.13.

Insider Activity at Universal Electronics

In other Universal Electronics news, Director Edward K. Zinser sold 2,500 shares of the company’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 transaction, the director now directly 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. 9.37% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Universal Electronics by 15.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,979 shares of the technology company’s stock worth $609,000 after buying an additional 8,706 shares in the last quarter. Empowered Funds LLC lifted its position in Universal Electronics by 5.3% during the third quarter. Empowered Funds LLC now owns 42,980 shares of the technology company’s stock worth $397,000 after purchasing an additional 2,144 shares during the period. Victory Capital Management Inc. grew its stake in Universal Electronics by 4.3% during the third quarter. Victory Capital Management Inc. now owns 53,703 shares of the technology company’s stock worth $496,000 after buying an additional 2,203 shares in the last quarter. Sei Investments Co. bought a new stake in shares of Universal Electronics during the 2nd quarter worth approximately $212,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of 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. Institutional investors and hedge funds 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.