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

Universal Electronics (NASDAQ:UEIC) had its target price hoisted by research analysts at B. Riley from $10.50 to $11.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. B. Riley’s target price indicates a potential downside of 12.07% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. StockNews.com upgraded shares of Universal Electronics from a “hold” rating to a “buy” rating in a report on Friday, March 15th. Rosenblatt Securities reiterated a “neutral” rating and issued a $15.00 price target on shares of Universal Electronics in a report on Friday.

Universal Electronics Stock Performance

Shares of UEIC traded up $1.29 during midday trading on Monday, hitting $12.51. 80,585 shares of the company traded hands, compared to its average volume of 42,825. Universal Electronics has a 52 week low of $7.02 and a 52 week high of $12.63. The firm has a 50 day moving average of $9.75 and a 200-day moving average of $8.89. The stock has a market cap of $162.25 million, a price-to-earnings ratio of -3.50 and a beta of 1.07.

Universal Electronics (NASDAQ:UEIC) last posted its quarterly earnings data on Thursday, February 15th. The technology company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.28). The company 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%. Sell-side analysts predict that Universal Electronics will post -0.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Universal Electronics

A number of large investors have recently bought and sold shares of UEIC. Clearstead Advisors LLC lifted its stake in shares of Universal Electronics by 2.8% during the 3rd quarter. Clearstead Advisors LLC now owns 45,434 shares of the technology company’s stock worth $411,000 after purchasing an additional 1,250 shares during the last quarter. Quadrature Capital Ltd boosted its holdings in shares of 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 in the last quarter. Raymond James & Associates grew its position 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. Victory Capital Management Inc. raised its stake in shares of Universal Electronics by 6.1% during the 3rd quarter. Victory Capital Management Inc. now owns 58,600 shares of the technology company’s stock worth $530,000 after acquiring an additional 3,385 shares in the last quarter. Finally, Howland Capital Management LLC lifted its position in Universal Electronics by 20.9% during the fourth quarter. Howland Capital Management LLC now owns 21,042 shares of the technology company’s stock valued at $198,000 after acquiring an additional 3,642 shares during the last quarter. Institutional investors own 79.35% of the company’s stock.

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.