Universal Electronics (NASDAQ:UEIC) Downgraded to Neutral Rating by Rosenblatt Securities

Key Points

• Universal Electronics has been downgraded from a "buy" to a "neutral" rating by Rosenblatt Securities, with a price target set at $8.00, which suggests a potential upside of 32.67% from its current price.
• Shares of Universal Electronics fell by 4.6% to open at $6.03, while the company has a market capitalization of approximately $79.42 million.
• Recent insider trading activity included Director Eric Singer purchasing 24,000 shares, indicating confidence in the company's future, as this increased his holdings by 374.82%.

Universal Electronics (NASDAQ:UEIC - Get Free Report) was downgraded by research analysts at Rosenblatt Securities from a "buy" rating to a "neutral" rating in a research report issued on Friday, MarketBeat Ratings reports. They presently have a $8.00 price target on the technology company's stock. Rosenblatt Securities' price target would indicate a potential upside of 32.67% from the stock's current price.

Universal Electronics Stock Down 4.6%

Shares of Universal Electronics stock opened at $6.03 on Friday. Universal Electronics has a 12-month low of $4.32 and a 12-month high of $12.50. The firm's 50-day moving average price is $6.67 and its two-hundred day moving average price is $6.99. The company has a market capitalization of $79.42 million, a price-to-earnings ratio of -3.63, a PEG ratio of 10.53 and a beta of 1.55.

Insider Transactions at Universal Electronics

In other Universal Electronics news, Director Eric Singer bought 24,000 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were purchased at an average price of $6.73 per share, for a total transaction of $161,520.00. Following the completion of the transaction, the director directly owned 30,403 shares in the company, valued at approximately $204,612.19. The trade was a 374.82% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders bought a total of 54,780 shares of company stock valued at $369,643 in the last quarter. Insiders own 10.45% of the company's stock.

Institutional Trading of Universal Electronics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Kennedy Capital Management LLC grew its holdings in shares of Universal Electronics by 8.7% during the fourth quarter. Kennedy Capital Management LLC now owns 32,593 shares of the technology company's stock worth $359,000 after purchasing an additional 2,606 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Universal Electronics by 8.4% during the first quarter. Empowered Funds LLC now owns 48,816 shares of the technology company's stock worth $299,000 after purchasing an additional 3,802 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Universal Electronics by 21.4% during the fourth quarter. Sei Investments Co. now owns 22,144 shares of the technology company's stock worth $244,000 after purchasing an additional 3,909 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Universal Electronics by 15.6% during the first quarter. Goldman Sachs Group Inc. now owns 36,341 shares of the technology company's stock worth $222,000 after purchasing an additional 4,893 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Universal Electronics by 28.3% during the fourth quarter. JPMorgan Chase & Co. now owns 22,865 shares of the technology company's stock worth $252,000 after purchasing an additional 5,042 shares during the last quarter. 79.35% of the stock is currently owned by institutional investors.

About Universal Electronics

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.

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