Universal Electronics (NASDAQ:UEIC) Stock Rating Upgraded by StockNews.com

Universal Electronics (NASDAQ:UEIC) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

Universal Electronics Price Performance

Shares of NASDAQ:UEIC opened at $8.76 on Thursday. The firm has a market capitalization of $113.70 million, a PE ratio of -2.48 and a beta of 1.14. The business has a 50-day moving average of $10.00 and a two-hundred day moving average of $10.56. Universal Electronics has a 12 month low of $7.02 and a 12 month high of $14.20.

Universal Electronics (NASDAQ:UEIC) last announced its quarterly 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 for the quarter, compared to analyst estimates of $94.86 million. Universal Electronics had a negative return on equity of 19.41% and a negative net margin of 11.19%. As a group, research analysts anticipate that Universal Electronics will post -0.62 earnings per share for the current year.

Institutional Investors Weigh In On Universal Electronics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new stake in shares of Universal Electronics in the second quarter worth about $122,000. Marquette Asset Management LLC purchased a new stake in shares of Universal Electronics in the first quarter worth about $159,000. Sei Investments Co. purchased a new stake in shares of Universal Electronics in the second quarter worth about $212,000. Howland Capital Management LLC boosted its position in shares of Universal Electronics by 56.6% in the first quarter. Howland Capital Management LLC now owns 32,942 shares of the technology company’s stock worth $330,000 after buying an additional 11,900 shares during the period. Finally, Empowered Funds LLC boosted its position in shares of Universal Electronics by 8.0% in the first quarter. Empowered Funds LLC now owns 37,956 shares of the technology company’s stock worth $380,000 after buying an additional 2,800 shares during the period. 79.35% of the stock is currently 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.