Universal Electronics (NASDAQ:UEIC) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Universal Electronics (NASDAQ:UEIC) from a hold rating to a buy rating in a research report report published on Thursday.

Universal Electronics Price Performance

Shares of NASDAQ UEIC opened at $8.76 on Thursday. The stock has a market capitalization of $112.93 million, a P/E ratio of -2.48 and a beta of 1.14. Universal Electronics has a one year low of $7.02 and a one year high of $14.20. The firm’s 50 day simple moving average is $9.93 and its two-hundred day simple moving average is $10.59.

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

Institutional Trading of Universal Electronics

A number of institutional investors have recently made changes to their positions in UEIC. Bank of New York Mellon Corp purchased a new position in shares of Universal Electronics in the second quarter worth $122,000. Marquette Asset Management LLC bought a new stake in Universal Electronics in the 1st quarter worth $159,000. Sei Investments Co. purchased a new position in shares of Universal Electronics in the second quarter valued at about $212,000. Howland Capital Management LLC raised its stake in shares of Universal Electronics by 56.6% during the first quarter. Howland Capital Management LLC now owns 32,942 shares of the technology company’s stock valued at $330,000 after acquiring an additional 11,900 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in shares of Universal Electronics by 8.0% during the first quarter. Empowered Funds LLC now owns 37,956 shares of the technology company’s stock worth $380,000 after purchasing an additional 2,800 shares during the period. 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.