Universal Electronics (NASDAQ:UEIC) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Universal Electronics (NASDAQ:UEIC – Get Rating) in a report released on Thursday. The brokerage issued a hold rating on the technology company’s stock.

Several other brokerages also recently weighed in on UEIC. Sidoti raised shares of Universal Electronics from a neutral rating to a buy rating and set a $16.00 target price on the stock in a report on Wednesday. B. Riley lowered shares of Universal Electronics from a buy rating to a neutral rating and increased their price objective for the stock from $22.00 to $29.00 in a research report on Friday, February 17th. Finally, Rosenblatt Securities downgraded shares of Universal Electronics from a buy rating to a neutral rating and decreased their target price for the company from $36.00 to $20.00 in a research note on Friday, February 17th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $21.67.

Universal Electronics Stock Down 2.1 %

Shares of UEIC stock opened at $9.57 on Thursday. The stock has a market capitalization of $122.30 million, a PE ratio of 319.11 and a beta of 1.26. The firm has a 50 day moving average of $18.78 and a two-hundred day moving average of $20.01. Universal Electronics has a 52 week low of $8.76 and a 52 week high of $34.39.

Insider Activity

In other news, CFO Bryan M. Hackworth purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, March 15th. The shares were bought at an average price of $9.65 per share, with a total value of $48,250.00. Following the completion of the transaction, the chief financial officer now directly owns 61,073 shares in the company, valued at approximately $589,354.45. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 9.07% of the company’s stock.

Institutional Investors Weigh In On Universal Electronics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Palouse Capital Management Inc. acquired a new stake in shares of Universal Electronics in the fourth quarter worth $2,872,000. State of Tennessee Treasury Department grew its stake in shares of Universal Electronics by 41.6% in the fourth quarter. State of Tennessee Treasury Department now owns 23,599 shares of the technology company’s stock worth $491,000 after acquiring an additional 6,930 shares during the last quarter. State of Wisconsin Investment Board grew its stake in shares of Universal Electronics by 1.8% in the fourth quarter. State of Wisconsin Investment Board now owns 30,600 shares of the technology company’s stock worth $637,000 after acquiring an additional 541 shares during the last quarter. Millennium Management LLC grew its stake in shares of Universal Electronics by 549.9% in the fourth quarter. Millennium Management LLC now owns 194,128 shares of the technology company’s stock worth $4,040,000 after acquiring an additional 164,257 shares during the last quarter. Finally, Morgan Stanley grew its stake in shares of Universal Electronics by 34.8% in the fourth quarter. Morgan Stanley now owns 123,975 shares of the technology company’s stock worth $2,580,000 after acquiring an additional 32,029 shares during the last quarter. Institutional investors and hedge funds own 85.43% of the company’s stock.

Universal Electronics Company Profile

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Universal Electronics, Inc engages in the design, development, and trade of control and sensor technology solutions. Its products include one for all retail accessories, tablets and smartphones, and consumer electronics OEM. The firm’s services include design, global manufacturing, and outsourced call center services.