Universal Electronics (NASDAQ:UEIC) Price Target Raised to $11.00

Universal Electronics (NASDAQ:UEIC) had its price objective increased by stock analysts at B. Riley from $10.50 to $11.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. B. Riley’s target price would suggest a potential downside of 15.38% from the stock’s previous close.

UEIC has been the subject of a number of other research reports. StockNews.com raised shares of Universal Electronics from a “hold” rating to a “buy” rating in a research note on Friday, March 15th. Rosenblatt Securities restated a “neutral” rating and set a $15.00 price target on shares of Universal Electronics in a research report on Friday, May 3rd.

Universal Electronics Stock Up 3.5 %

Shares of UEIC stock opened at $13.00 on Monday. The business has a 50-day moving average price of $9.91 and a two-hundred day moving average price of $8.95. Universal Electronics has a 12-month low of $7.02 and a 12-month high of $13.15. The firm has a market cap of $168.61 million, a P/E ratio of -3.68 and a beta of 1.07.

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

Institutional Investors Weigh In On Universal Electronics

Several institutional investors have recently added to or reduced their stakes in UEIC. Raymond James & Associates increased its position in shares of Universal Electronics by 17.2% in the third quarter. Raymond James & Associates now owns 15,044 shares of the technology company’s stock valued at $136,000 after acquiring an additional 2,206 shares during the period. Marquette Asset Management LLC bought a new position in Universal Electronics during the 1st quarter valued at approximately $159,000. Howland Capital Management LLC lifted its holdings in Universal Electronics by 20.9% in the 4th quarter. Howland Capital Management LLC now owns 21,042 shares of the technology company’s stock worth $198,000 after buying an additional 3,642 shares during the period. Barclays PLC grew its position in shares of Universal Electronics by 58.2% in the 3rd quarter. Barclays PLC now owns 25,988 shares of the technology company’s stock worth $235,000 after buying an additional 9,557 shares during the last quarter. Finally, Quadrature Capital Ltd increased its stake in shares of Universal Electronics by 129.3% during the third quarter. Quadrature Capital Ltd now owns 39,149 shares of the technology company’s stock valued at $354,000 after buying an additional 22,075 shares during the period. Hedge funds and other 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.