Universal Electronics (NASDAQ:UEIC) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Universal Electronics from “buy” to “strong buy.” However, the broader analyst consensus remains “Reduce,” with an average price target of $4.25.
• The company beat quarterly earnings and revenue expectations, reporting EPS of $0.17 versus estimates of $0.10 and revenue of $89.42 million versus estimates of $76.97 million.
• UEIC shares opened at $5.52; insiders have recently sold 242,815 shares, while institutional investors own 79.35% of the stock.

Universal Electronics (NASDAQ:UEIC - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued on Monday, Wall Street Zen reports.

A number of other research analysts have also recently commented on UEIC. Rosenblatt Securities reiterated a "neutral" rating and issued a $5.00 price target on shares of Universal Electronics in a research note on Friday, August 7th. Zacks Research upgraded Universal Electronics to a "hold" rating in a research report on Monday, October 5th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Universal Electronics in a research report on Friday, September 18th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Universal Electronics presently has an average rating of "Reduce" and an average target price of $4.25.

Universal Electronics Price Performance

Universal Electronics stock opened at $5.52 on Monday. The stock has a market cap of $71.15 million, a PE ratio of -9.68 and a beta of 1.30. Universal Electronics has a 12-month low of $2.69 and a 12-month high of $5.99. The business's 50-day moving average price is $5.13 and its two-hundred day moving average price is $4.49.

Universal Electronics (NASDAQ:UEIC - Get Free Report) last posted its earnings results on Thursday, November 5th. The technology company reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.07. The firm had revenue of $89.42 million during the quarter, compared to analysts' expectations of $76.97 million. Universal Electronics had a negative net margin of 2.16% and a positive return on equity of 4.02%. As a group, analysts expect that Universal Electronics will post 0.25 earnings per share for the current year.

Insider Buying and Selling

In other Universal Electronics news, insider Toro 18 Holdings Llc sold 105,541 shares of the company's stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $4.63, for a total value of $488,654.83. Following the completion of the transaction, the insider directly owned 1,101,832 shares in the company, valued at approximately $5,101,482.16. This represents a 8.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 242,815 shares of company stock worth $1,157,304. 17.10% of the stock is owned by company insiders.

Institutional Trading of Universal Electronics

Several institutional investors have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in Universal Electronics in the second quarter valued at $1,860,000. Hsbc Holdings PLC acquired a new position in Universal Electronics during the 2nd quarter worth about $108,000. Empowered Funds LLC lifted its holdings in Universal Electronics by 4.7% during the 1st quarter. Empowered Funds LLC now owns 69,266 shares of the technology company's stock worth $285,000 after buying an additional 3,088 shares during the period. Marquette Asset Management LLC bought a new stake in shares of Universal Electronics in the 2nd quarter valued at about $303,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Universal Electronics in the 2nd quarter valued at about $83,000. Institutional investors own 79.35% of the company's stock.

About Universal Electronics

Universal Electronics Inc NASDAQ: UEIC designs, develops and distributes consumer electronics products and technologies that simplify the control of home entertainment and smart-home devices. Its offerings include universal remote controls, wireless home-control products, audio and video accessories, and related software and connected-device solutions.

The company serves original equipment manufacturers, subscription television providers, retailers and consumers. Its products are marketed under the One For All and other company brands, as well as through private-label and licensed-brand arrangements.

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