Universal Electronics (NASDAQ:UEIC) Price Target Raised to $11.00 at B. Riley

Universal Electronics (NASDAQ:UEIC) had its price objective hoisted by B. Riley from $10.50 to $11.00 in a research note released on Monday, Benzinga reports. B. Riley currently has a neutral rating on the technology company’s stock.

A number of other research firms have also commented on UEIC. StockNews.com upgraded Universal Electronics from a hold rating to a buy rating in a research note on Friday, March 15th. Rosenblatt Securities reiterated a neutral rating and set a $15.00 price target on shares of Universal Electronics in a report on Friday.

Universal Electronics Price Performance

Universal Electronics stock opened at $12.56 on Monday. Universal Electronics has a one year low of $7.02 and a one year high of $12.94. The company’s fifty day moving average price is $9.83 and its two-hundred day moving average price is $8.92.

Universal Electronics (NASDAQ:UEIC) last posted its earnings results on Thursday, February 15th. The technology company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.28). Universal Electronics had a negative return on equity of 22.59% and a negative net margin of 11.27%. The company had revenue of $97.59 million during the quarter, compared to analyst estimates of $97.52 million. Sell-side analysts anticipate that Universal Electronics will post -0.31 EPS for the current year.

Hedge Funds Weigh In On Universal Electronics

A number of hedge funds have recently modified their holdings of UEIC. Raymond James & Associates grew its position in Universal Electronics by 17.2% in the third quarter. Raymond James & Associates now owns 15,044 shares of the technology company’s stock valued at $136,000 after acquiring an additional 2,206 shares during the period. Marquette Asset Management LLC acquired a new stake in shares of Universal Electronics during the 1st quarter worth about $159,000. Howland Capital Management LLC lifted its holdings in Universal Electronics by 20.9% during the 4th quarter. Howland Capital Management LLC now owns 21,042 shares of the technology company’s stock valued at $198,000 after purchasing an additional 3,642 shares during the last quarter. Barclays PLC boosted its position in Universal Electronics by 58.2% in the third quarter. Barclays PLC now owns 25,988 shares of the technology company’s stock valued at $235,000 after buying an additional 9,557 shares in the last quarter. Finally, Quadrature Capital Ltd grew its stake in Universal Electronics by 129.3% during the third quarter. Quadrature Capital Ltd now owns 39,149 shares of the technology company’s stock worth $354,000 after buying an additional 22,075 shares during the last quarter. 79.35% of the stock is owned by institutional investors and hedge funds.

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.