Universal Display (NASDAQ:OLED) was upgraded by investment analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a research report issued on Friday.
Several other research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Universal Display from a “hold” rating to a “sell” rating in a research note on Tuesday. Goldman Sachs set a $190.00 target price on shares of Universal Display and gave the company a “buy” rating in a research note on Tuesday, March 20th. Gabelli raised shares of Universal Display from a “hold” rating to a “buy” rating in a research note on Tuesday, March 20th. ValuEngine lowered shares of Universal Display from a “hold” rating to a “sell” rating in a research note on Monday, March 19th. Finally, BidaskClub lowered shares of Universal Display from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 15th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $169.73.
Shares of NASDAQ:OLED opened at $101.32 on Friday. Universal Display has a 12 month low of $80.80 and a 12 month high of $209.00. The stock has a market cap of $4,737.99, a price-to-earnings ratio of 41.70 and a beta of 1.31.
In other Universal Display news, Director Richard C. Elias sold 2,250 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $129.60, for a total transaction of $291,600.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Sherwin I. Seligsohn sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $200.00, for a total transaction of $10,000,000.00. Following the sale, the chairman now owns 143,119 shares in the company, valued at $28,623,800. The disclosure for this sale can be found here. Insiders have sold a total of 54,750 shares of company stock worth $10,601,775 in the last three months. 5.20% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in OLED. US Bancorp DE raised its holdings in Universal Display by 4,188.2% during the 4th quarter. US Bancorp DE now owns 729 shares of the semiconductor company’s stock worth $126,000 after buying an additional 712 shares during the period. Cerebellum GP LLC acquired a new stake in Universal Display during the 4th quarter worth approximately $129,000. Aevitas Wealth Management Inc. acquired a new stake in Universal Display during the 4th quarter worth approximately $165,000. Glassman Wealth Services raised its holdings in Universal Display by 60.7% during the 4th quarter. Glassman Wealth Services now owns 961 shares of the semiconductor company’s stock worth $166,000 after buying an additional 363 shares during the period. Finally, American International Group Inc. acquired a new stake in Universal Display during the 4th quarter worth approximately $170,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.
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About Universal Display
Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in flat panel displays and solid-state lighting applications. As of February 22, 2018, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 4,500 issued and pending patents worldwide.
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