Universal Electronics (NASDAQ:UEIC) Stock Rating Upgraded by Wall Street Zen

Universal Electronics (NASDAQ:UEIC) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Universal Electronics in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $5.75.

Universal Electronics Price Performance

Shares of UEIC stock opened at $4.25 on Friday. The stock has a 50 day simple moving average of $3.98 and a 200-day simple moving average of $3.89. The company has a market cap of $54.67 million, a price-to-earnings ratio of -3.04 and a beta of 1.38. Universal Electronics has a 1-year low of $2.69 and a 1-year high of $7.50.

Institutional Investors Weigh In On Universal Electronics

Several large investors have recently bought and sold shares of the stock. Quadrature Capital Ltd purchased a new stake in shares of Universal Electronics during the second quarter worth approximately $82,000. NewEdge Advisors LLC acquired a new stake in Universal Electronics during the 3rd quarter worth $64,000. Prelude Capital Management LLC increased its position in shares of Universal Electronics by 88.7% during the third quarter. Prelude Capital Management LLC now owns 29,161 shares of the technology company’s stock worth $136,000 after purchasing an additional 13,705 shares in the last quarter. Heron Bay Capital Management purchased a new stake in Universal Electronics in the third quarter valued at approximately $148,000. Finally, Cubist Systematic Strategies LLC boosted its stake in Universal Electronics by 62.7% during the 1st quarter. Cubist Systematic Strategies LLC now owns 32,502 shares of the technology company’s stock worth $199,000 after purchasing an additional 12,526 shares during the period. Hedge funds and other institutional investors own 79.35% of the company’s stock.

About Universal Electronics

Universal Electronics Inc (NASDAQ:UEIC) is a leading provider of sensing and control technologies for the smart home and consumer electronics markets. The company specializes in design, development and manufacturing of remote control devices, wireless connectivity modules and integrated sensing solutions. Its core expertise lies in infrared (IR) and radio frequency (RF) remote controls, voice-enabled control devices and universal remotes that allow consumers to manage multiple home entertainment and automation systems through a single interface.

In addition to traditional remote control products, Universal Electronics has expanded its portfolio to include Internet of Things (IoT) gateways, home-automation hubs and cloud-based management platforms.