Universal Electronics (NASDAQ:UEIC) Upgraded at Rosenblatt Securities

Universal Electronics (NASDAQ:UEIC) was upgraded by Rosenblatt Securities from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, MarketBeat.com reports. The brokerage presently has a $15.00 price target on the technology company’s stock. Rosenblatt Securities’ target price indicates a potential upside of 78.15% from the stock’s previous close.

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

Universal Electronics Trading Down 0.1 %

Shares of NASDAQ:UEIC opened at $8.42 on Friday. The firm has a 50 day moving average of $8.57 and a 200-day moving average of $10.25. The stock has a market capitalization of $109.29 million, a PE ratio of -2.51 and a beta of 1.13. Universal Electronics has a 12 month low of $7.17 and a 12 month high of $14.20.

Universal Electronics (NASDAQ:UEIC) last issued 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 firm had revenue of $90.45 million during the quarter, compared to analyst estimates of $94.86 million. Universal Electronics had a negative net margin of 11.19% and a negative return on equity of 19.41%. On average, research analysts predict that Universal Electronics will post -0.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Universal Electronics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC grew its holdings 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 valued at $397,000 after purchasing an additional 2,144 shares during the last quarter. Victory Capital Management Inc. grew its holdings 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 valued at $496,000 after purchasing an additional 2,203 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Universal Electronics by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 555,163 shares of the technology company’s stock valued at $5,557,000 after purchasing an additional 7,994 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in shares of Universal Electronics by 5.1% during the 1st quarter. First Eagle Investment Management LLC now owns 206,175 shares of the technology company’s stock valued at $2,064,000 after purchasing an additional 10,096 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Universal Electronics during the 2nd quarter valued at approximately $122,000. 79.35% of the stock is owned by 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.