Universal Electronics (NASDAQ:UEIC) Earns Neutral Rating from Rosenblatt Securities

Rosenblatt Securities reaffirmed their neutral rating on shares of Universal Electronics (NASDAQ:UEIC) in a report released on Friday, Benzinga reports. They currently have a $15.00 price target on the technology company’s stock.

A number of other brokerages also recently issued reports on UEIC. B. Riley lifted their price target on Universal Electronics from $9.00 to $10.50 and gave the company a neutral rating in a report on Friday, February 16th. StockNews.com upgraded shares of Universal Electronics from a hold rating to a buy rating in a research note on Friday, March 15th.

Universal Electronics Stock Performance

NASDAQ:UEIC opened at $11.22 on Friday. Universal Electronics has a fifty-two week low of $7.02 and a fifty-two week high of $11.84. The stock’s fifty day moving average is $9.75 and its 200 day moving average is $8.89.

Universal Electronics (NASDAQ:UEIC) last posted its quarterly earnings results on Thursday, February 15th. The technology company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.28). The company had revenue of $97.59 million for 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%. As a group, equities analysts predict that Universal Electronics will post -0.31 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UEIC. First Eagle Investment Management LLC purchased a new stake in shares of Universal Electronics in the third quarter valued at approximately $1,400,000. Assenagon Asset Management S.A. raised its holdings in shares of Universal Electronics by 188.1% during the third quarter. Assenagon Asset Management S.A. now owns 168,140 shares of the technology company’s stock valued at $1,522,000 after acquiring an additional 109,775 shares during the last quarter. Barclays PLC increased its position in shares of Universal Electronics by 58.2% during the third quarter. Barclays PLC now owns 25,988 shares of the technology company’s stock worth $235,000 after purchasing an additional 9,557 shares in the last quarter. Quadrature Capital Ltd lifted its holdings in Universal Electronics by 129.3% in the 3rd quarter. Quadrature Capital Ltd now owns 39,149 shares of the technology company’s stock valued at $354,000 after purchasing an additional 22,075 shares in the last quarter. Finally, Ancora Advisors LLC purchased a new stake in shares of Universal Electronics during the third quarter worth $1,486,000. 79.35% of the stock is currently owned by institutional investors and hedge funds.

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.