Universal Electronics (NASDAQ:UEIC) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

Shares of Universal Electronics Inc. (NASDAQ:UEIC) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.29 and traded as high as $11.90. Universal Electronics shares last traded at $11.70, with a volume of 72,668 shares.

Analyst Ratings Changes

UEIC has been the subject of a number of recent analyst reports. StockNews.com raised shares of Universal Electronics from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Rosenblatt Securities raised shares of Universal Electronics from a “neutral” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Friday, November 8th. Finally, B. Riley raised shares of Universal Electronics from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $11.00 to $14.00 in a research note on Monday, November 11th.

Universal Electronics Trading Down 2.9 %

The company has a market capitalization of $147.63 million, a PE ratio of -5.53 and a beta of 1.13. The firm’s 50-day simple moving average is $9.00 and its 200-day simple moving average is $10.30.

Insider Buying and Selling at Universal Electronics

In other news, Director Edward K. Zinser sold 2,500 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 38,062 shares of the company’s stock, valued at approximately $406,502.16. This represents a 6.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 9.37% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Universal Electronics

Several hedge funds have recently modified their holdings of UEIC. Vanguard Group Inc. lifted its position in shares of Universal Electronics by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 555,163 shares of the technology company’s stock worth $5,557,000 after purchasing an additional 7,994 shares during the period. Kent Lake Capital LLC purchased a new stake in shares of Universal Electronics in the 1st quarter worth approximately $1,588,000. Ancora Advisors LLC lifted its position in shares of Universal Electronics by 7.2% in the 1st quarter. Ancora Advisors LLC now owns 269,834 shares of the technology company’s stock worth $2,701,000 after purchasing an additional 18,050 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Universal Electronics by 18.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 140,077 shares of the technology company’s stock worth $1,628,000 after acquiring an additional 21,337 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Universal Electronics during the 2nd quarter worth approximately $122,000. Hedge funds and other institutional investors 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.