Universal Display Corporation (NASDAQ:OLED) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage currently has a $198.00 price target on the semiconductor company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 11.58% from the company’s current price.
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. “
A number of other analysts also recently issued reports on OLED. Cowen and Company reaffirmed an “outperform” rating and set a $195.00 price target (up previously from $155.00) on shares of Universal Display Corporation in a report on Friday, November 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Universal Display Corporation in a report on Friday, November 3rd. Gabelli downgraded shares of Universal Display Corporation from a “buy” rating to a “hold” rating and set a $134.00 price target on the stock. in a report on Friday, November 3rd. Deutsche Bank AG raised their price target on shares of Universal Display Corporation to $150.00 and gave the company a “buy” rating in a report on Tuesday, October 31st. Finally, Cross Research downgraded shares of Universal Display Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Universal Display Corporation presently has a consensus rating of “Hold” and an average target price of $143.11.
Shares of Universal Display Corporation (OLED) opened at $177.45 on Wednesday. Universal Display Corporation has a 1 year low of $52.10 and a 1 year high of $178.71. The company has a market cap of $8,328.54, a PE ratio of 86.79 and a beta of 1.03.
Universal Display Corporation (NASDAQ:OLED) last announced its quarterly earnings data 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 company had revenue of $61.70 million for the quarter, compared to the consensus estimate of $47.35 million. During the same period in the prior year, the firm posted ($0.03) EPS. Universal Display Corporation’s revenue for the quarter was up 104.3% on a year-over-year basis. analysts anticipate that Universal Display Corporation will post 2.33 EPS for the current year.
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In other Universal Display Corporation news, CFO Sidney D. Rosenblatt sold 50,240 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $135.02, for a total transaction of $6,783,404.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Rosemarie B. Greco sold 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $168.63, for a total transaction of $210,787.50. Following the sale, the director now owns 12,800 shares in the company, valued at approximately $2,158,464. The disclosure for this sale can be found here. Insiders sold a total of 196,974 shares of company stock worth $30,133,174 in the last quarter. Company insiders own 5.20% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its stake in Universal Display Corporation by 33.4% during the 1st quarter. Bank of America Corp DE now owns 72,951 shares of the semiconductor company’s stock worth $6,281,000 after acquiring an additional 18,272 shares during the period. BKS Advisors LLC bought a new stake in Universal Display Corporation during the 2nd quarter worth approximately $2,318,000. Westwood Management Corp IL raised its stake in Universal Display Corporation by 70.0% during the 2nd quarter. Westwood Management Corp IL now owns 17,000 shares of the semiconductor company’s stock worth $1,857,000 after acquiring an additional 7,000 shares during the period. Balyasny Asset Management LLC bought a new stake in Universal Display Corporation during the 2nd quarter worth approximately $3,673,000. Finally, Neuberger Berman Group LLC raised its stake in Universal Display Corporation by 18.2% during the 2nd quarter. Neuberger Berman Group LLC now owns 606,472 shares of the semiconductor company’s stock worth $66,257,000 after acquiring an additional 93,223 shares during the period. Institutional investors 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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