Universal Electronics (NASDAQ:UEIC) Price Target Cut to $43.00 by Analysts at B. Riley

Universal Electronics (NASDAQ:UEICGet Rating) had its target price cut by B. Riley from $53.00 to $43.00 in a research note published on Friday morning, The Fly reports.

A number of other research firms also recently issued reports on UEIC. StockNews.com raised shares of Universal Electronics from a hold rating to a buy rating in a research note on Friday, May 20th. TheStreet cut Universal Electronics from a c rating to a d+ rating in a research note on Thursday, May 5th. Finally, Rosenblatt Securities began coverage on Universal Electronics in a research note on Monday, July 11th. They issued a buy rating and a $40.00 target price for the company.

Universal Electronics Stock Performance

UEIC stock opened at $25.86 on Friday. The firm’s 50-day moving average price is $26.48 and its two-hundred day moving average price is $29.74. Universal Electronics has a 12-month low of $23.29 and a 12-month high of $53.07.

Universal Electronics (NASDAQ:UEICGet Rating) last released its quarterly earnings data on Thursday, May 5th. The technology company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.15). Universal Electronics had a negative net margin of 1.26% and a negative return on equity of 2.57%. The firm had revenue of $132.41 million during the quarter, compared to analysts’ expectations of $135.06 million. Equities research analysts anticipate that Universal Electronics will post 0.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. KBC Group NV purchased a new position in Universal Electronics during the second quarter valued at $26,000. SG Americas Securities LLC purchased a new position in Universal Electronics during the fourth quarter valued at $172,000. MetLife Investment Management LLC raised its stake in Universal Electronics by 59.9% during the first quarter. MetLife Investment Management LLC now owns 7,056 shares of the technology company’s stock valued at $220,000 after buying an additional 2,644 shares during the last quarter. Palouse Capital Management Inc. raised its stake in Universal Electronics by 8.2% during the first quarter. Palouse Capital Management Inc. now owns 9,016 shares of the technology company’s stock valued at $282,000 after buying an additional 684 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in Universal Electronics during the fourth quarter valued at $414,000. Hedge funds and other institutional investors own 87.74% of the company’s stock.

About Universal Electronics

(Get Rating)

Universal Electronics Inc designs, develops, manufactures, and sells pre-programmed and universal control products, audio-video (AV) accessories, and intelligent wireless security and smart home products for video services, consumer electronics, security, home automation, climate control, and home appliance markets.

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