Universal Display Corp. (NASDAQ:OLED) has been assigned a $75.00 target price by stock analysts at Cowen and Company in a research note issued to investors on Tuesday. The firm presently has a a “buy” rating on the stock. Cowen and Company’s target price points to a potential upside of 51.61% from the stock’s current price.
OLED has been the topic of several other research reports. Canaccord Genuity began coverage on Universal Display Corp. in a research note on Friday, September 23rd. They set a “hold” rating and a $51.00 price objective on the stock. Needham & Company LLC cut Universal Display Corp. from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Universal Display Corp. in a research report on Thursday, June 16th. TheStreet upgraded Universal Display Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, August 10th. Finally, Zacks Investment Research cut Universal Display Corp. from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 13th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $59.50.
Shares of Universal Display Corp. (NASDAQ:OLED) opened at 49.47 on Tuesday. Universal Display Corp. has a 12 month low of $33.06 and a 12 month high of $74.39. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 48.31 and a beta of 1.06. The stock’s 50 day moving average price is $57.36 and its 200 day moving average price is $61.58.
Universal Display Corp. (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by $0.04. Universal Display Corp. had a net margin of 24.96% and a return on equity of 10.15%. The firm had revenue of $64.40 million for the quarter, compared to analyst estimates of $68.68 million. During the same quarter in the previous year, the company earned $0.41 EPS. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. Equities research analysts predict that Universal Display Corp. will post $0.88 earnings per share for the current fiscal year.
In related news, Director Leonard Becker sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 19,650 shares of the company’s stock, valued at approximately $1,200,811.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.70% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of OLED. Renaissance Technologies LLC raised its position in shares of Universal Display Corp. by 6.7% in the first quarter. Renaissance Technologies LLC now owns 283,912 shares of the company’s stock worth $15,360,000 after buying an additional 17,873 shares during the period. University of Notre Dame DU Lac purchased a new position in shares of Universal Display Corp. during the first quarter worth about $1,588,000. Geode Capital Management LLC raised its position in shares of Universal Display Corp. by 4.5% in the first quarter. Geode Capital Management LLC now owns 290,942 shares of the company’s stock worth $15,739,000 after buying an additional 12,527 shares during the last quarter. Pictet Asset Management Ltd. purchased a new position in shares of Universal Display Corp. during the first quarter worth about $171,000. Finally, Primecap Management Co. CA raised its position in shares of 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 worth $65,346,000 after buying an additional 16,800 shares during the last quarter. 67.54% of the stock is owned by institutional investors and hedge funds.
About Universal Display Corp.
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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