B. Riley Raises Universal Electronics (NASDAQ:UEIC) Price Target to $11.00

Universal Electronics (NASDAQ:UEIC) had its price target upped by B. Riley from $10.50 to $11.00 in a research report released on Monday, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

A number of other equities analysts have also recently issued reports on UEIC. Rosenblatt Securities reiterated a neutral rating and issued a $15.00 target price on shares of Universal Electronics in a report on Friday, May 3rd. StockNews.com upgraded shares of Universal Electronics from a hold rating to a buy rating in a report on Friday, March 15th.

Universal Electronics Trading Up 5.0 %

NASDAQ:UEIC opened at $13.65 on Monday. The firm has a fifty day simple moving average of $10.02 and a two-hundred day simple moving average of $8.98. Universal Electronics has a 12 month low of $7.02 and a 12 month high of $14.20. The stock has a market capitalization of $177.01 million, a price-to-earnings ratio of -3.87 and a beta of 1.07.

Universal Electronics (NASDAQ:UEIC) last issued its earnings results on Thursday, February 15th. The technology company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.28). The firm had revenue of $97.59 million during the quarter, compared to the consensus estimate of $97.52 million. Universal Electronics had a negative net margin of 11.27% and a negative return on equity of 22.59%. Equities analysts predict that Universal Electronics will post -0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Universal Electronics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Clearstead Advisors LLC grew its stake in shares of Universal Electronics by 2.8% in the 3rd quarter. Clearstead Advisors LLC now owns 45,434 shares of the technology company’s stock worth $411,000 after acquiring an additional 1,250 shares in the last quarter. Quadrature Capital Ltd increased its stake in Universal Electronics by 4.9% in the 4th quarter. Quadrature Capital Ltd now owns 41,085 shares of the technology company’s stock valued at $387,000 after buying an additional 1,936 shares during the last quarter. Raymond James & Associates boosted its stake in shares of Universal Electronics by 17.2% in the 3rd quarter. Raymond James & Associates now owns 15,044 shares of the technology company’s stock worth $136,000 after buying an additional 2,206 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Universal Electronics by 8.0% in the first 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. Finally, Victory Capital Management Inc. increased its position in shares of Universal Electronics by 6.1% during the third quarter. Victory Capital Management Inc. now owns 58,600 shares of the technology company’s stock valued at $530,000 after acquiring an additional 3,385 shares during the last quarter. 79.35% of the stock is owned by hedge funds and other 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.