Universal Display Corporation (OLED) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Universal Display Corporation (NASDAQ:OLED) from a strong-buy rating to a hold rating in a report issued on Tuesday.

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. “

Other research analysts have also issued research reports about the stock. Susquehanna Bancshares Inc reissued a positive rating and set a $150.00 price objective (up previously from $120.00) on shares of Universal Display Corporation in a research note on Wednesday, August 9th. Goldman Sachs Group, Inc. (The) reissued a buy rating and set a $150.00 price objective (up previously from $140.00) on shares of Universal Display Corporation in a research note on Wednesday, August 9th. BidaskClub raised shares of Universal Display Corporation from a sell rating to a hold rating in a research note on Friday, August 25th. Deutsche Bank AG assumed coverage on shares of Universal Display Corporation in a research note on Wednesday, August 30th. They set a buy rating and a $135.00 price objective on the stock. Finally, Oppenheimer Holdings, Inc. reissued a market perform rating on shares of Universal Display Corporation in a research note on Wednesday, August 9th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $121.11.

Shares of Universal Display Corporation (OLED) traded down 1.21% during midday trading on Tuesday, hitting $134.30. 638,747 shares of the company traded hands. The stock has a market capitalization of $6.32 billion, a P/E ratio of 77.86 and a beta of 1.04. The stock’s 50-day moving average is $131.31 and its 200 day moving average is $114.98. Universal Display Corporation has a 12-month low of $49.20 and a 12-month high of $145.30.

Universal Display Corporation (NASDAQ:OLED) last released its quarterly earnings data 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. Universal Display Corporation had a net margin of 31.15% and a return on equity of 14.90%. The business had revenue of $102.50 million for the quarter, compared to analyst estimates of $84.81 million. During the same quarter last year, the firm earned $0.46 EPS. Universal Display Corporation’s quarterly revenue was up 59.2% compared to the same quarter last year. On average, analysts expect that Universal Display Corporation will post $2.14 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which was paid on Saturday, September 30th. Shareholders of record on Friday, September 15th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date was Thursday, September 14th. Universal Display Corporation’s payout ratio is currently 6.94%.

In other Universal Display Corporation news, CFO Sidney D. Rosenblatt sold 50,240 shares of Universal Display Corporation stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $135.02, for a total value of $6,783,404.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 5.20% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in OLED. BlackRock Inc. lifted its stake 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 in the last quarter. Schroder Investment Management Group bought a new position in Universal Display Corporation in the second quarter valued at approximately $25,450,000. FMR LLC lifted its stake in Universal Display Corporation by 193.6% in the first quarter. FMR LLC now owns 325,005 shares of the semiconductor company’s stock valued at $27,983,000 after buying an additional 214,324 shares in the last quarter. Newbrook Capital Advisors LP lifted its stake in Universal Display Corporation by 49.4% in the second quarter. Newbrook Capital Advisors LP now owns 558,174 shares of the semiconductor company’s stock valued at $60,981,000 after buying an additional 184,683 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake 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 in the last quarter. 64.09% 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.

Get a free copy of the Zacks research report on Universal Display Corporation (OLED)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

OLED) traded down 1.21% during midday trading on Tuesday, hitting $134.30. 638,747 shares of the company traded hands. The stock has a market capitalization of $6.32 billion, a P/E ratio of 77.86 and a beta of 1.04. The stock’s 50-day moving average is $131.31 and its 200 day moving average is $114.98. Universal Display Corporation has a 12-month low of $49.20 and a 12-month high of $145.30.

Universal Display Corporation (NASDAQ:OLED) last released its quarterly earnings data 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. Universal Display Corporation had a net margin of 31.15% and a return on equity of 14.90%. The business had revenue of $102.50 million for the quarter, compared to analyst estimates of $84.81 million. During the same quarter last year, the firm earned $0.46 EPS. Universal Display Corporation’s quarterly revenue was up 59.2% compared to the same quarter last year. On average, analysts expect that Universal Display Corporation will post $2.14 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: “Universal Display Corporation (OLED) Downgraded by Zacks Investment Research” was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of U.S. & international copyright laws. The legal version of this piece of content can be viewed at https://ledgergazette.com/2017/10/20/universal-display-corporation-oled-downgraded-by-zacks-investment-research.html.

The business also recently declared a quarterly dividend, which was paid on Saturday, September 30th. Shareholders of record on Friday, September 15th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date was Thursday, September 14th. Universal Display Corporation’s payout ratio is currently 6.94%.

In other Universal Display Corporation news, CFO Sidney D. Rosenblatt sold 50,240 shares of Universal Display Corporation stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $135.02, for a total value of $6,783,404.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 5.20% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in OLED. BlackRock Inc. lifted its stake 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 in the last quarter. Schroder Investment Management Group bought a new position in Universal Display Corporation in the second quarter valued at approximately $25,450,000. FMR LLC lifted its stake in Universal Display Corporation by 193.6% in the first quarter. FMR LLC now owns 325,005 shares of the semiconductor company’s stock valued at $27,983,000 after buying an additional 214,324 shares in the last quarter. Newbrook Capital Advisors LP lifted its stake in Universal Display Corporation by 49.4% in the second quarter. Newbrook Capital Advisors LP now owns 558,174 shares of the semiconductor company’s stock valued at $60,981,000 after buying an additional 184,683 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake 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 in the last quarter. 64.09% 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.

Get a free copy of the Zacks research report on Universal Display Corporation (OLED)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Universal Display Corporation (NASDAQ:OLED)

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