Universal Display Corporation (NASDAQ:OLED) has been assigned a $140.00 price objective by stock analysts at Cowen and Company in a report released on Wednesday. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Cowen and Company’s price target would suggest a potential upside of 4.01% from the company’s current price.
OLED has been the topic of several other reports. BidaskClub lowered Universal Display Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of Universal Display Corporation in a research report on Wednesday, August 9th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $150.00 target price (up from $140.00) on shares of Universal Display Corporation in a research report on Wednesday, August 9th. Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $150.00 target price on shares of Universal Display Corporation in a research report on Tuesday, September 5th. Finally, Zacks Investment Research lowered Universal Display Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 18th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $121.11.
Shares of Universal Display Corporation (NASDAQ:OLED) opened at 134.60 on Wednesday. Universal Display Corporation has a 1-year low of $49.02 and a 1-year high of $145.30. The firm has a market cap of $6.33 billion, a PE ratio of 78.03 and a beta of 1.04. The firm’s 50-day moving average price is $128.18 and its 200 day moving average price is $113.17.
Universal Display Corporation (NASDAQ:OLED) last issued its earnings results on Thursday, August 3rd. The semiconductor company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.31. The business had revenue of $102.50 million for the quarter, compared to analyst estimates of $84.81 million. Universal Display Corporation had a return on equity of 14.90% and a net margin of 31.15%. The business’s quarterly revenue was up 59.2% on a year-over-year basis. During the same period last year, the company posted $0.46 EPS. On average, equities research analysts forecast that Universal Display Corporation will post $2.14 EPS for the current fiscal year.
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In related news, CEO Steven V. Abramson sold 18,000 shares of the stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $124.53, for a total value of $2,241,540.00. Following the completion of the sale, the chief executive officer now directly owns 262,888 shares in the company, valued at approximately $32,737,442.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Julia J. Brown sold 10,000 shares of the 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 completion of the sale, the insider now owns 162,932 shares of the company’s stock, valued at $20,366,500. The disclosure for this sale can be found here. Over the last quarter, insiders sold 78,240 shares of company stock valued at $10,274,945. 5.20% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in OLED. BlackRock Inc. increased its holdings in Universal Display Corporation by 82,293.2% in the 1st quarter. BlackRock Inc. now owns 2,817,024 shares of the semiconductor company’s stock valued at $242,545,000 after purchasing an additional 2,813,605 shares in the last quarter. Schroder Investment Management Group acquired a new stake in Universal Display Corporation in the 2nd quarter valued at $25,450,000. FMR LLC increased its holdings in Universal Display Corporation by 193.6% in the 1st quarter. FMR LLC now owns 325,005 shares of the semiconductor company’s stock valued at $27,983,000 after purchasing an additional 214,324 shares in the last quarter. Newbrook Capital Advisors LP increased its holdings in Universal Display Corporation by 49.4% in the 2nd quarter. Newbrook Capital Advisors LP now owns 558,174 shares of the semiconductor company’s stock valued at $60,981,000 after purchasing an additional 184,683 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Universal Display Corporation by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 3,403,157 shares of the semiconductor company’s stock valued at $293,012,000 after purchasing an additional 141,268 shares in the last quarter. Hedge funds and other institutional investors own 64.09% of the company’s stock.
Universal Display Corporation 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 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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