Rosenblatt Securities Reaffirms Neutral Rating for Universal Electronics (NASDAQ:UEIC)

Rosenblatt Securities reiterated their neutral rating on shares of Universal Electronics (NASDAQ:UEIC) in a research note released on Friday morning, Benzinga reports. Rosenblatt Securities currently has a $15.00 target price on the technology company’s stock.

Several other equities research analysts have also issued reports on the stock. StockNews.com upgraded shares of Universal Electronics from a hold rating to a buy rating in a research report on Friday, March 15th. B. Riley increased their price target on shares of Universal Electronics from $9.00 to $10.50 and gave the company a neutral rating in a research report on Friday, February 16th.

Universal Electronics Price Performance

Shares of UEIC opened at $11.22 on Friday. The business’s 50 day moving average price is $9.75 and its two-hundred day moving average price is $8.89. Universal Electronics has a 52-week low of $7.02 and a 52-week high of $11.84.

Universal Electronics (NASDAQ:UEIC) last announced its earnings results on Thursday, February 15th. The technology company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.28). The firm had revenue of $97.59 million during the quarter, compared to analysts’ expectations 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, research analysts forecast that Universal Electronics will post -0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Universal Electronics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James & Associates increased its stake 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 valued at $136,000 after purchasing an additional 2,206 shares in the last quarter. Howland Capital Management LLC lifted its stake in shares of Universal Electronics by 20.9% in the fourth quarter. Howland Capital Management LLC now owns 21,042 shares of the technology company’s stock worth $198,000 after buying an additional 3,642 shares in the last quarter. Barclays PLC raised its stake in shares of Universal Electronics by 58.2% in 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 during the last quarter. Quadrature Capital Ltd raised its position in Universal Electronics by 129.3% in the 3rd quarter. Quadrature Capital Ltd now owns 39,149 shares of the technology company’s stock worth $354,000 after buying an additional 22,075 shares during the last quarter. Finally, Clearstead Advisors LLC boosted its holdings 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 valued at $411,000 after acquiring an additional 1,250 shares during the last quarter. 79.35% of the stock is owned by hedge funds and other institutional investors.

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.