Rosenblatt Securities Upgrades Universal Electronics (NASDAQ:UEIC) to Buy

Rosenblatt Securities upgraded shares of Universal Electronics (NASDAQ:UEIC) from a neutral rating to a buy rating in a report published on Friday, MarketBeat.com reports. They currently have $15.00 price target on the technology company’s stock.

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

Universal Electronics Price Performance

Shares of Universal Electronics stock traded up $2.67 during trading hours on Friday, reaching $11.09. The company’s stock had a trading volume of 191,945 shares, compared to its average volume of 63,666. The firm has a 50 day moving average price of $8.60 and a 200-day moving average price of $10.26. Universal Electronics has a one year low of $7.17 and a one year high of $14.20. The stock has a market cap of $143.95 million, a P/E ratio of -5.41 and a beta of 1.13.

Universal Electronics (NASDAQ:UEIC) last posted its earnings results on Thursday, August 8th. The technology company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). Universal Electronics had a negative return on equity of 19.41% and a negative net margin of 11.19%. The business had revenue of $90.45 million during the quarter, compared to the consensus estimate of $94.86 million. As a group, sell-side analysts forecast that Universal Electronics will post -0.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Universal Electronics

A number of large investors have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Universal Electronics by 15.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 65,979 shares of the technology company’s stock worth $609,000 after purchasing an additional 8,706 shares during the period. Empowered Funds LLC boosted its stake in shares of Universal Electronics by 5.3% during the 3rd 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. boosted its stake in shares of Universal Electronics by 4.3% during the 3rd quarter. Victory Capital Management Inc. now owns 53,703 shares of the technology company’s stock worth $496,000 after purchasing an additional 2,203 shares during the period. Sei Investments Co. purchased a new stake in Universal Electronics in the 2nd quarter valued at about $212,000. Finally, Dimensional Fund Advisors LP boosted its position in Universal Electronics by 3.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 392,822 shares of the technology company’s stock valued at $4,565,000 after buying an additional 13,495 shares during the period. 79.35% of the stock is owned by hedge funds and other 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.