Universal Display Corp. (NASDAQ:OLED) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Thursday.
According to Zacks, “Universal Display Corporation is located in the Princeton Crossroads Corporate Center in Ewing, New Jersey, minutes away from its research partner at Princeton University. Universal Display’s state-of-the-art facility is designed to further technology and materials development, technology transfer to manufacturing partners and work with customers to develop OLED products that meet their needs. “
Several other research firms have also recently issued reports on OLED. Canaccord Genuity reaffirmed a “hold” rating on shares of Universal Display Corp. in a research report on Tuesday, June 28th. Cowen and Company reaffirmed a “buy” rating on shares of Universal Display Corp. in a research report on Wednesday, June 29th. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of Universal Display Corp. in a research report on Monday, August 8th. TheStreet raised Universal Display Corp. from a “hold” rating to a “buy” rating in a report on Wednesday, August 10th. Finally, Needham & Company LLC reissued a “buy” rating and set a $69.00 price target on shares of Universal Display Corp. in a report on Wednesday, June 29th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $57.83.
Universal Display Corp. (NASDAQ:OLED) opened at 52.37 on Thursday. Universal Display Corp. has a 12 month low of $33.06 and a 12 month high of $74.39. The stock has a 50 day moving average price of $58.67 and a 200 day moving average price of $61.67. The stock has a market capitalization of $2.46 billion, a PE ratio of 51.14 and a beta of 1.06.
Universal Display Corp. (NASDAQ:OLED) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by $0.04. The business earned $64.40 million during the quarter, compared to the consensus estimate of $68.68 million. Universal Display Corp. had a net margin of 24.96% and a return on equity of 10.15%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company posted $0.41 earnings per share. On average, equities research analysts forecast that Universal Display Corp. will post $0.88 earnings per share for the current fiscal year.
In other news, Director Leonard Becker sold 5,000 shares of the company’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $61.11, for a total value of $305,550.00. Following the completion of the sale, the director now directly owns 19,650 shares in the company, valued at approximately $1,200,811.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.70% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of OLED. Pictet Asset Management Ltd. bought a new stake in Universal Display Corp. during the first quarter valued at approximately $171,000. Primecap Management Co. CA raised its stake in Universal Display Corp. by 1.4% in the first quarter. Primecap Management Co. CA now owns 1,207,875 shares of the company’s stock valued at $65,346,000 after buying an additional 16,800 shares during the period. State Street Corp raised its stake in Universal Display Corp. by 2.1% in the first quarter. State Street Corp now owns 672,357 shares of the company’s stock valued at $36,372,000 after buying an additional 13,941 shares during the period. Cupps Capital Management LLC bought a new stake in Universal Display Corp. during the first quarter valued at approximately $3,270,000. Finally, Carnick & Kubik LLC bought a new stake in Universal Display Corp. during the first quarter valued at approximately $189,000. Hedge funds and other institutional investors own 67.54% of the company’s stock.
Universal Display Corp. Company Profile
Universal Display Corporation is engaged in the research, development and commercialization of organic light emitting diode (OLED), technologies and materials for use in displays for wearables, smartphones, tablets and televisions, as well as solid-state lighting applications. The Company’s flat panel displays are used for various portable consumer electronics products, such as mobile phones, wearables, portable media devices, digital cameras, tablets and notebook computers.
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