Universal Electronics Inc (NASDAQ:UEIC) was upgraded by equities researchers at TheStreet from a “c+” rating to a “b-” rating in a research note issued on Thursday.

A number of other brokerages have also issued reports on UEIC. Zacks Investment Research upgraded Universal Electronics from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research note on Tuesday, February 21st. Lake Street Capital cut their price target on Universal Electronics from $78.00 to $71.00 and set a “buy” rating for the company in a research note on Friday, February 17th. Five research analysts have rated the stock with a buy rating, Universal Electronics currently has an average rating of “Buy” and an average target price of $75.38.

Universal Electronics (NASDAQ:UEIC) traded down 0.88% during midday trading on Thursday, hitting $67.45. The stock had a trading volume of 10,909 shares. The company has a market capitalization of $970.61 million, a PE ratio of 48.88 and a beta of 1.78. The stock’s 50-day moving average is $65.76 and its 200-day moving average is $68.29. Universal Electronics has a 1-year low of $52.90 and a 1-year high of $80.42.

Universal Electronics (NASDAQ:UEIC) last issued its quarterly earnings results on Thursday, February 16th. The company reported $0.70 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.70. Universal Electronics had a return on equity of 16.85% and a net margin of 4.05%. The business earned $160.10 million during the quarter, compared to analyst estimates of $164.41 million. During the same quarter in the prior year, the business posted $0.91 EPS. Universal Electronics’s revenue for the quarter was down 1.2% compared to the same quarter last year. Equities research analysts forecast that Universal Electronics will post $3.63 EPS for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of UEIC. Thrivent Financial for Lutherans raised its position in shares of Universal Electronics by 5.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 7,790 shares of the company’s stock worth $503,000 after buying an additional 370 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Universal Electronics by 20.4% in the fourth quarter. AQR Capital Management LLC now owns 8,463 shares of the company’s stock worth $546,000 after buying an additional 1,433 shares during the last quarter. Guggenheim Capital LLC purchased a new position in shares of Universal Electronics during the fourth quarter worth $1,061,000. NWQ Investment Management Company LLC raised its position in shares of Universal Electronics by 15.0% in the fourth quarter. NWQ Investment Management Company LLC now owns 262,268 shares of the company’s stock worth $16,929,000 after buying an additional 34,204 shares during the last quarter. Finally, William Blair Investment Management LLC raised its position in shares of Universal Electronics by 42.5% in the fourth quarter. William Blair Investment Management LLC now owns 1,294,201 shares of the company’s stock worth $83,541,000 after buying an additional 386,192 shares during the last quarter. Hedge funds and other institutional investors own 90.71% of the company’s stock.

Universal Electronics Company Profile

Universal Electronics Inc (UEI) develops control and sensor technology solutions and manufactures a line of pre-programmed and universal remote control products, audio-video (AV) accessories, and intelligent wireless security and automation components. The Company’s offerings include pre-programmed universal infrared (IR) and radio frequency (RF) remote controls that are sold primarily to subscription broadcasting providers, original equipment manufacturers (OEMs), retailers, and private label customers, and integrated circuits, on which its software and universal device control database is embedded, sold primarily to OEMs, subscription broadcasting providers, and private label customers.

5 Day Chart for NASDAQ:UEIC

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