Universal Display Corporation (NASDAQ:OLED) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday. The firm presently has a $136.00 price objective on the semiconductor company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 17.19% from the company’s current price.
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 also recently commented on OLED. BidaskClub upgraded Universal Display Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 9th. Summit Redstone restated a “hold” rating and set a $95.00 target price on shares of Universal Display Corporation in a research report on Tuesday, August 1st. Cowen and Company restated an “outperform” rating and set a $130.00 target price on shares of Universal Display Corporation in a research report on Tuesday, August 1st. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $150.00 target price (up previously from $140.00) on shares of Universal Display Corporation in a research report on Wednesday. Finally, Susquehanna Bancshares Inc restated a “positive” rating and set a $150.00 target price (up previously from $120.00) on shares of Universal Display Corporation in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Universal Display Corporation presently has a consensus rating of “Buy” and a consensus target price of $118.00.
Shares of Universal Display Corporation (OLED) opened at 116.05 on Thursday. The firm has a market capitalization of $5.46 billion, a PE ratio of 96.79 and a beta of 1.05. The stock has a 50 day moving average price of $117.32 and a 200-day moving average price of $95.25. Universal Display Corporation has a 52-week low of $47.88 and a 52-week high of $130.65.
Universal Display Corporation (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.68 by $0.31. Universal Display Corporation had a return on equity of 14.90% and a net margin of 31.15%. The business had revenue of $102.50 million for the quarter, compared to the consensus estimate of $84.81 million. During the same quarter in the prior year, the business earned $0.46 earnings per share. Universal Display Corporation’s revenue for the quarter was up 59.2% on a year-over-year basis. Equities analysts forecast that Universal Display Corporation will post $2.08 EPS for the current year.
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In other news, insider Julia J. Brown sold 10,000 shares of the company’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $125.00, for a total value of $1,250,000.00. Following the transaction, the insider now owns 162,932 shares of the company’s stock, valued at $20,366,500. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Leonard Becker sold 3,750 shares of the company’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $114.24, for a total transaction of $428,400.00. Following the completion of the transaction, the director now directly owns 13,750 shares in the company, valued at approximately $1,570,800. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,750 shares of company stock worth $3,919,940. Insiders own 5.70% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Universal Display Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 3,403,157 shares of the semiconductor company’s stock valued at $293,012,000 after buying an additional 141,268 shares during the last quarter. BlackRock Inc. boosted its position in Universal Display Corporation by 82,293.2% in the first quarter. BlackRock Inc. now owns 2,817,024 shares of the semiconductor company’s stock valued at $242,545,000 after buying an additional 2,813,605 shares during the last quarter. Columbus Circle Investors boosted its position in Universal Display Corporation by 41.5% in the first quarter. Columbus Circle Investors now owns 884,208 shares of the semiconductor company’s stock valued at $76,130,000 after buying an additional 259,267 shares during the last quarter. State Street Corp boosted its position in Universal Display Corporation by 3.1% in the first quarter. State Street Corp now owns 788,727 shares of the semiconductor company’s stock valued at $67,909,000 after buying an additional 23,770 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its position in Universal Display Corporation by 18.2% in the second quarter. Neuberger Berman Group LLC now owns 606,472 shares of the semiconductor company’s stock valued at $66,257,000 after buying an additional 93,223 shares during the last quarter. 69.40% of the stock is currently owned by hedge funds and other institutional investors.
About Universal Display Corporation
Universal Display Corporation is engaged in the research, development and commercialization of organic light emitting diode (OLED), technologies and materials for use in display and solid-state lighting applications. The Company also supplies its OLED materials to manufacturers of OLED displays and lighting products for evaluation and for use in product development and for pre-commercial activities, and it also provides technical assistance and support to these manufacturers.
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