Universal Electronics (NASDAQ:UEIC) Stock Passes Above 200 Day Moving Average – Here’s Why

Shares of Universal Electronics Inc. (NASDAQ:UEIC) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $3.84 and traded as high as $4.33. Universal Electronics shares last traded at $4.15, with a volume of 34,388 shares.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on UEIC shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Universal Electronics in a research note on Monday, December 29th. Wall Street Zen raised Universal Electronics from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $5.75.

Universal Electronics Stock Performance

The business has a 50 day moving average price of $4.10 and a two-hundred day moving average price of $3.84. The company has a market cap of $52.21 million, a P/E ratio of -2.96 and a beta of 1.29.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of UEIC. Cubist Systematic Strategies LLC raised its position 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 valued at $199,000 after purchasing an additional 12,526 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Universal Electronics by 15.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 36,341 shares of the technology company’s stock valued at $222,000 after purchasing an additional 4,893 shares during the last quarter. Empowered Funds LLC raised its position in Universal Electronics by 8.4% during the 1st quarter. Empowered Funds LLC now owns 48,816 shares of the technology company’s stock valued at $299,000 after purchasing an additional 3,802 shares during the last quarter. Kent Lake PR LLC raised its position in Universal Electronics by 17.2% during the 2nd quarter. Kent Lake PR LLC now owns 1,260,642 shares of the technology company’s stock valued at $8,345,000 after purchasing an additional 185,014 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Universal Electronics by 23.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 875,458 shares of the technology company’s stock valued at $5,796,000 after purchasing an additional 164,617 shares during the last quarter. Institutional investors own 79.35% of the company’s stock.

Universal Electronics Company Profile

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.