Universal Electronics (NASDAQ:UEIC) Share Price Passes Above 200 Day Moving Average – What’s Next?

Universal Electronics Inc. (NASDAQ:UEIC)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.87 and traded as high as $4.20. Universal Electronics shares last traded at $4.11, with a volume of 45,909 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Universal Electronics in a research report on Monday, December 29th. Wall Street Zen upgraded Universal Electronics from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $5.75.

Universal Electronics Price Performance

The company has a market capitalization of $52.85 million, a PE ratio of -2.94 and a beta of 1.38. The company’s fifty day moving average is $4.03 and its 200-day moving average is $3.87.

Institutional Trading of Universal Electronics

A number of institutional investors have recently modified their holdings of UEIC. Cubist Systematic Strategies LLC lifted its position in Universal Electronics by 62.7% during the first quarter. Cubist Systematic Strategies LLC now owns 32,502 shares of the technology company’s stock valued at $199,000 after acquiring an additional 12,526 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Universal Electronics by 15.6% in the first quarter. Goldman Sachs Group Inc. now owns 36,341 shares of the technology company’s stock worth $222,000 after purchasing an additional 4,893 shares during the last quarter. Empowered Funds LLC grew its holdings in Universal Electronics by 8.4% in the first quarter. Empowered Funds LLC now owns 48,816 shares of the technology company’s stock worth $299,000 after purchasing an additional 3,802 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of Universal Electronics during the second quarter worth $82,000. Finally, Kent Lake PR LLC increased its position in shares of Universal Electronics by 17.2% during the second quarter. Kent Lake PR LLC now owns 1,260,642 shares of the technology company’s stock worth $8,345,000 after purchasing an additional 185,014 shares in the last quarter. 79.35% of the stock is currently owned by institutional investors.

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.