Universal Electronics (NASDAQ:UEIC) Lifted 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 sent to investors on Thursday.

Universal Electronics Stock Performance

Shares of Universal Electronics stock opened at $8.76 on Thursday. Universal Electronics has a 52-week low of $7.02 and a 52-week high of $14.20. The company’s 50 day moving average price is $9.93 and its 200-day moving average price is $10.58. The stock has a market capitalization of $112.93 million, a price-to-earnings ratio of -2.48 and a beta of 1.14.

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

Hedge Funds Weigh In On Universal Electronics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Universal Electronics by 1.5% in the first quarter. Vanguard Group Inc. now owns 555,163 shares of the technology company’s stock worth $5,557,000 after acquiring an additional 7,994 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Universal Electronics by 9.1% in the 2nd quarter. Acadian Asset Management LLC now owns 499,940 shares of the technology company’s stock worth $5,804,000 after purchasing an additional 41,795 shares during the last quarter. AMH Equity Ltd boosted its stake in Universal Electronics by 23.0% in the 1st quarter. AMH Equity Ltd now owns 491,968 shares of the technology company’s stock worth $4,925,000 after purchasing an additional 91,968 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Universal Electronics by 3.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 392,822 shares of the technology company’s stock valued at $4,565,000 after purchasing an additional 13,495 shares during the last quarter. Finally, Pacific Ridge Capital Partners LLC increased its stake in Universal Electronics by 15.2% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 380,573 shares of the technology company’s stock valued at $3,574,000 after purchasing an additional 50,117 shares in the last quarter. Institutional investors own 79.35% of the company’s stock.

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.