Universal Display Corporation (NASDAQ:OLED) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm currently has a $198.00 target price on the semiconductor company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 9.39% from the stock’s previous close.
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 equities research analysts also recently commented on OLED. Summit Redstone reaffirmed a “hold” rating and issued a $95.00 target price on shares of Universal Display Corporation in a research note on Tuesday, August 1st. Cowen and Company reaffirmed an “outperform” rating and issued a $130.00 target price on shares of Universal Display Corporation in a research note on Tuesday, August 1st. Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $150.00 target price (up previously from $120.00) on shares of Universal Display Corporation in a research note on Wednesday, August 9th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $150.00 target price (up previously from $140.00) on shares of Universal Display Corporation in a research note on Wednesday, August 9th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of Universal Display Corporation in a research note on Wednesday, August 9th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $143.11.
Shares of Universal Display Corporation (OLED) traded up $1.75 during midday trading on Wednesday, reaching $181.00. 712,879 shares of the company traded hands, compared to its average volume of 822,172. Universal Display Corporation has a fifty-two week low of $52.10 and a fifty-two week high of $182.65. The firm has a market capitalization of $8,510.00, a price-to-earnings ratio of 86.99 and a beta of 1.03.
Universal Display Corporation (NASDAQ:OLED) last issued its earnings results on Thursday, November 2nd. The semiconductor company reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.19. Universal Display Corporation had a net margin of 32.92% and a return on equity of 16.67%. The firm had revenue of $61.70 million during the quarter, compared to the consensus estimate of $47.35 million. During the same quarter in the prior year, the firm earned ($0.03) earnings per share. The business’s quarterly revenue was up 104.3% on a year-over-year basis. equities research analysts expect that Universal Display Corporation will post 2.33 EPS for the current year.
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In other news, Director Rosemarie B. Greco sold 1,250 shares of the stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $168.63, for a total transaction of $210,787.50. Following the completion of the sale, the director now owns 12,800 shares of the company’s stock, valued at $2,158,464. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Julia J. Brown sold 10,000 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the sale, the insider now directly owns 152,932 shares of the company’s stock, valued at approximately $22,939,800. The disclosure for this sale can be found here. Insiders have sold 196,974 shares of company stock valued at $30,133,174 in the last three months. 5.20% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in OLED. Mitra Capital LLC acquired a new position in Universal Display Corporation during the second quarter worth $109,000. IFP Advisors Inc boosted its holdings in Universal Display Corporation by 307.5% during the second quarter. IFP Advisors Inc now owns 1,080 shares of the semiconductor company’s stock worth $118,000 after purchasing an additional 815 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Universal Display Corporation by 79.4% during the second quarter. BNP Paribas Arbitrage SA now owns 1,536 shares of the semiconductor company’s stock worth $168,000 after purchasing an additional 680 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in Universal Display Corporation during the second quarter worth $197,000. Finally, CIBC Asset Management Inc acquired a new position in Universal Display Corporation during the third quarter worth $205,000. Institutional investors and hedge funds own 64.20% of the company’s stock.
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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