Universal Electronics (NASDAQ:UEIC) Raised 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 note published on Thursday.

Universal Electronics Stock Performance

NASDAQ:UEIC opened at $8.76 on Thursday. The company has a market capitalization of $112.93 million, a PE ratio of -2.48 and a beta of 1.14. Universal Electronics has a fifty-two week low of $7.02 and a fifty-two week high of $14.20. The company has a 50 day simple moving average of $9.93 and a two-hundred day simple moving average of $10.58.

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

Hedge Funds Weigh In On Universal Electronics

Large investors have recently modified their holdings of the company. Bank of New York Mellon Corp purchased a new position in shares of Universal Electronics during the 2nd quarter valued at $122,000. Marquette Asset Management LLC purchased a new position in Universal Electronics during the first quarter worth about $159,000. Sei Investments Co. bought a new position in Universal Electronics in the 2nd quarter worth about $212,000. Howland Capital Management LLC raised its holdings in shares of Universal Electronics by 56.6% in the 1st quarter. Howland Capital Management LLC now owns 32,942 shares of the technology company’s stock valued at $330,000 after acquiring an additional 11,900 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of Universal Electronics by 8.0% in the 1st quarter. Empowered Funds LLC now owns 37,956 shares of the technology company’s stock valued at $380,000 after acquiring an additional 2,800 shares in the last quarter. 79.35% of the stock is currently owned by institutional investors.

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.