Universal Electronics (NASDAQ:UEIC) Share Price Passes Above 200 Day Moving Average of $22.31

Universal Electronics Inc. (NASDAQ:UEIC – Get Rating) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $22.31 and traded as high as $23.92. Universal Electronics shares last traded at $23.68, with a volume of 23,687 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Universal Electronics from a “buy” rating to a “strong-buy” rating in a report on Monday, November 7th.

Universal Electronics Price Performance

The company has a market capitalization of $300.31 million, a price-to-earnings ratio of 296.04 and a beta of 1.10. The stock has a 50-day moving average price of $22.02 and a 200-day moving average price of $22.31.

Universal Electronics (NASDAQ:UEIC – Get Rating) last announced its earnings results on Thursday, November 3rd. The technology company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.38. Universal Electronics had a return on equity of 0.36% and a net margin of 0.17%. The company had revenue of $148.48 million for the quarter, compared to analyst estimates of $145.87 million. Equities analysts forecast that Universal Electronics Inc. will post 0.69 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. KBC Group NV bought a new stake in Universal Electronics during the 2nd quarter worth approximately $26,000. Tower Research Capital LLC TRC raised its holdings in Universal Electronics by 117.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,408 shares of the technology company’s stock valued at $28,000 after acquiring an additional 761 shares during the period. Teachers Retirement System of The State of Kentucky bought a new stake in Universal Electronics during the 3rd quarter valued at $80,000. BNP Paribas Arbitrage SNC increased its holdings in shares of Universal Electronics by 35.8% in the third quarter. BNP Paribas Arbitrage SNC now owns 6,908 shares of the technology company’s stock worth $136,000 after purchasing an additional 1,820 shares during the period. Finally, MetLife Investment Management LLC increased its holdings in shares of Universal Electronics by 59.9% in the first quarter. MetLife Investment Management LLC now owns 7,056 shares of the technology company’s stock worth $220,000 after purchasing an additional 2,644 shares during the period. 85.43% of the stock is owned by institutional investors.

About Universal Electronics

(Get Rating)

Universal Electronics Inc designs, develops, manufactures, and sells pre-programmed and universal control products, audio-video (AV) accessories, and intelligent wireless security and smart home products for video services, consumer electronics, security, home automation, climate control, and home appliance markets.