Universal Electronics’ (UEIC) “Neutral” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities restated their neutral rating on shares of Universal Electronics (NASDAQ:UEIC) in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a $15.00 target price on the technology company’s stock.

A number of other research analysts have also recently commented on UEIC. B. Riley increased their price target on Universal Electronics from $9.00 to $10.50 and gave the company a neutral rating in a research note on Friday, February 16th. StockNews.com upgraded Universal Electronics from a hold rating to a buy rating in a report on Friday, March 15th.

Universal Electronics Trading Up 11.9 %

Shares of UEIC opened at $12.56 on Friday. Universal Electronics has a 52 week low of $7.02 and a 52 week high of $12.94. The stock has a fifty day moving average of $9.83 and a 200-day moving average of $8.92.

Universal Electronics (NASDAQ:UEIC) last announced its quarterly earnings results on Thursday, February 15th. The technology company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.28). Universal Electronics had a negative net margin of 11.27% and a negative return on equity of 22.59%. The firm had revenue of $97.59 million during the quarter, compared to the consensus estimate of $97.52 million. Sell-side analysts predict that Universal Electronics will post -0.31 earnings per share for the current fiscal year.

Institutional Trading of Universal Electronics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC increased its holdings in Universal Electronics by 16.7% in the third quarter. Acadian Asset Management LLC now owns 442,976 shares of the technology company’s stock valued at $4,007,000 after purchasing an additional 63,367 shares during the period. AMH Equity Ltd grew its holdings in Universal Electronics by 35.1% during the 4th quarter. AMH Equity Ltd now owns 400,000 shares of the technology company’s stock worth $3,756,000 after acquiring an additional 104,000 shares during the period. Pacific Ridge Capital Partners LLC grew its holdings 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 worth $3,574,000 after acquiring an additional 50,117 shares during the period. First Eagle Investment Management LLC grew its holdings in Universal Electronics by 26.7% during the 4th quarter. First Eagle Investment Management LLC now owns 196,079 shares of the technology company’s stock worth $1,841,000 after acquiring an additional 41,352 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in Universal Electronics by 188.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 168,140 shares of the technology company’s stock worth $1,522,000 after acquiring an additional 109,775 shares during the period. 79.35% of the stock is currently owned by institutional investors and hedge funds.

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.