Universal Electronics (NASDAQ:UEIC) Receives New Coverage from Analysts at StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of Universal Electronics (NASDAQ:UEIC – Get Rating) in a research report issued on Thursday. The firm set a “hold” rating on the technology company’s stock.

Several other brokerages also recently issued reports on UEIC. B. Riley downgraded shares of Universal Electronics from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $22.00 to $29.00 in a research report on Friday, February 17th. Rosenblatt Securities cut Universal Electronics from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $36.00 to $20.00 in a report on Friday, February 17th. Finally, Sidoti raised Universal Electronics from a “neutral” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Wednesday, March 15th.

Universal Electronics Stock Up 3.8 %

Shares of NASDAQ UEIC opened at $8.67 on Thursday. Universal Electronics has a twelve month low of $8.02 and a twelve month high of $29.28. The stock has a market cap of $111.50 million, a price-to-earnings ratio of -1.91 and a beta of 1.24. The company’s fifty day moving average is $9.62 and its 200-day moving average is $17.06.

Universal Electronics (NASDAQ:UEIC – Get Rating) last released its quarterly earnings data on Thursday, February 16th. The technology company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.65). Universal Electronics had a negative net margin of 11.19% and a negative return on equity of 3.55%. The business had revenue of $122.76 million for the quarter, compared to the consensus estimate of $125.11 million. On average, research analysts anticipate that Universal Electronics will post -0.82 EPS for the current fiscal year.

Insider Activity at Universal Electronics

In other news, CFO Bryan M. Hackworth bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The stock was acquired at an average cost of $9.65 per share, with a total value of $48,250.00. Following the completion of the purchase, the chief financial officer now owns 61,073 shares of the company’s stock, valued at $589,354.45. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 9.07% of the company’s stock.

Institutional Investors Weigh In On Universal Electronics

Several hedge funds have recently bought and sold shares of UEIC. Eaton Vance Management lifted its holdings in shares of Universal Electronics by 3.3% during the first quarter. Eaton Vance Management now owns 15,762 shares of the technology company’s stock worth $492,000 after buying an additional 508 shares in the last quarter. State of Wisconsin Investment Board increased its position in Universal Electronics by 1.8% during the fourth quarter. State of Wisconsin Investment Board now owns 30,600 shares of the technology company’s stock worth $637,000 after acquiring an additional 541 shares during the period. Raymond James & Associates raised its stake in Universal Electronics by 2.3% in the 3rd quarter. Raymond James & Associates now owns 26,417 shares of the technology company’s stock worth $520,000 after purchasing an additional 599 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Universal Electronics by 117.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,408 shares of the technology company’s stock valued at $28,000 after purchasing an additional 761 shares during the period. Finally, Synovus Financial Corp grew its position in shares of Universal Electronics by 7.2% during the 1st quarter. Synovus Financial Corp now owns 13,197 shares of the technology company’s stock worth $407,000 after purchasing an additional 882 shares in the last quarter. 85.43% of the stock is currently owned by institutional investors and hedge funds.

About Universal Electronics

(Get Rating)

Universal Electronics, Inc engages in the design, development, and trade of control and sensor technology solutions. Its products include one for all retail accessories, tablets and smartphones, and consumer electronics OEM. The firm’s services include design, global manufacturing, and outsourced call center services.