Universal Electronics (NASDAQ:UEIC) Raised to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Universal Electronics to a "Buy" from "Hold," but Weiss Ratings still maintains a "Sell (e+)," leaving the stock with an average analyst rating of "Reduce" and a consensus price target of $5.75.
• The shares trade around $4.25 with a 1-year range of $2.69–$7.50, a market cap of approximately $54.66 million and a negative P/E (-3.04), reflecting a distressed valuation.
• Institutional investors hold about 79.35% of the stock, and several hedge funds have recently initiated or increased positions in UEIC.

Universal Electronics (NASDAQ:UEIC - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

Separately, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Universal Electronics in a research report on Monday, December 29th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus price target of $5.75.

Universal Electronics Trading Up 0.5%

Universal Electronics stock opened at $4.25 on Friday. Universal Electronics has a 1-year low of $2.69 and a 1-year high of $7.50. The company has a fifty day simple moving average of $3.98 and a 200 day simple moving average of $3.91. The company has a market cap of $54.66 million, a P/E ratio of -3.04 and a beta of 1.38.

Institutional Investors Weigh In On Universal Electronics

Several hedge funds have recently bought and sold shares of UEIC. Quadrature Capital Ltd bought a new position in shares of Universal Electronics during the 2nd quarter worth approximately $82,000. NewEdge Advisors LLC bought a new stake in Universal Electronics in the 3rd quarter valued at $64,000. Prelude Capital Management LLC lifted its holdings in Universal Electronics by 88.7% during the 3rd quarter. Prelude Capital Management LLC now owns 29,161 shares of the technology company's stock valued at $136,000 after purchasing an additional 13,705 shares during the last quarter. Heron Bay Capital Management bought a new position in Universal Electronics during the third quarter worth $148,000. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of Universal Electronics by 62.7% in the first quarter. Cubist Systematic Strategies LLC now owns 32,502 shares of the technology company's stock valued at $199,000 after purchasing an additional 12,526 shares during the last quarter. 79.35% of the stock is currently owned by institutional investors and hedge funds.

Universal Electronics Company Profile

Universal Electronics Inc NASDAQ: UEIC is a leading provider of sensing and control technologies for the smart home and consumer electronics markets. The company specializes in design, development and manufacturing of remote control devices, wireless connectivity modules and integrated sensing solutions. Its core expertise lies in infrared (IR) and radio frequency (RF) remote controls, voice-enabled control devices and universal remotes that allow consumers to manage multiple home entertainment and automation systems through a single interface.

In addition to traditional remote control products, Universal Electronics has expanded its portfolio to include Internet of Things (IoT) gateways, home-automation hubs and cloud-based management platforms.

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