Universal Display (OLED) Rating Increased to Outperform at Oppenheimer

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.

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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.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, February 22nd. The semiconductor company reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.11. The firm had revenue of $115.87 million for the quarter, compared to analyst estimates of $99.55 million. Universal Display had a net margin of 30.95% and a return on equity of 18.80%. The company’s revenue was up 55.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.55 EPS. equities analysts forecast that Universal Display will post 2.66 earnings per share for the current year.

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.

Analyst Recommendations for Universal Display (NASDAQ:OLED)

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