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

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

A number of other research analysts have also recently commented on UEIC. StockNews.com upgraded Universal Electronics from a “hold” rating to a “buy” rating in a research note on Friday, March 15th. Rosenblatt Securities reissued a “neutral” rating and set a $15.00 price target on shares of Universal Electronics in a research report on Friday.

Universal Electronics Stock Performance

UEIC traded up $1.29 on Monday, reaching $12.51. 80,585 shares of the company’s stock were exchanged, compared to its average volume of 42,825. Universal Electronics has a twelve month low of $7.02 and a twelve month high of $12.63. The company’s 50 day moving average is $9.75 and its 200-day moving average is $8.89. The company 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 released 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 business had revenue of $97.59 million during the quarter, compared to analyst estimates of $97.52 million. Universal Electronics had a negative return on equity of 22.59% and a negative net margin of 11.27%. Sell-side analysts forecast that Universal Electronics will post -0.31 EPS for the current year.

Hedge Funds Weigh In On Universal Electronics

Institutional investors have recently added to or reduced their stakes in the company. Raymond James & Associates increased its position in shares of Universal Electronics by 17.2% during the third quarter. Raymond James & Associates now owns 15,044 shares of the technology company’s stock worth $136,000 after acquiring an additional 2,206 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Universal Electronics by 6.1% in the 3rd quarter. Victory Capital Management Inc. now owns 58,600 shares of the technology company’s stock valued at $530,000 after purchasing an additional 3,385 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Universal Electronics by 188.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 168,140 shares of the technology company’s stock valued at $1,522,000 after purchasing an additional 109,775 shares in the last quarter. AMH Equity Ltd boosted its stake in shares of Universal Electronics by 18.4% during the 3rd quarter. AMH Equity Ltd now owns 296,000 shares of the technology company’s stock valued at $2,679,000 after buying an additional 46,000 shares during the last quarter. Finally, Barclays PLC grew 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 buying an additional 9,557 shares in the last quarter. Institutional investors and hedge funds own 79.35% of the company’s stock.

Universal Electronics Company Profile

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.