Universal Display (NASDAQ:OLED) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The firm currently has a $195.00 price target on the semiconductor company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 8.09% from the stock’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. “
Other equities analysts also recently issued reports about the company. BidaskClub downgraded Universal Display from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. Needham & Company LLC reiterated a “hold” rating on shares of Universal Display in a research report on Friday, November 3rd. Gabelli downgraded Universal Display from a “buy” rating to a “hold” rating and set a $134.00 target price for the company. in a research report on Friday, November 3rd. Deutsche Bank increased their target price on Universal Display to $150.00 and gave the company a “buy” rating in a research report on Tuesday, October 31st. Finally, Cowen reiterated an “outperform” rating and issued a $195.00 target price (up from $155.00) on shares of Universal Display in a research report on Friday, November 10th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $155.00.
Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, November 2nd. The semiconductor company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.09 by $0.19. The firm had revenue of $61.70 million during the quarter, compared to the consensus estimate of $47.35 million. Universal Display had a return on equity of 16.67% and a net margin of 32.92%. The business’s quarterly revenue was up 104.3% on a year-over-year basis. During the same period last year, the company earned ($0.03) earnings per share. equities analysts expect that Universal Display will post 2.33 EPS for the current fiscal year.
In other news, CFO Sidney D. Rosenblatt sold 50,240 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $167.80, for a total transaction of $8,430,272.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven V. Abramson sold 18,744 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $158.40, for a total value of $2,969,049.60. The disclosure for this sale can be found here. Insiders have sold 146,734 shares of company stock valued at $23,349,769 over the last 90 days. 5.20% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Columbus Circle Investors grew its stake in Universal Display by 24.1% during the third quarter. Columbus Circle Investors now owns 843,537 shares of the semiconductor company’s stock worth $108,690,000 after purchasing an additional 163,569 shares during the period. Neuberger Berman Group LLC grew its stake in Universal Display by 17.8% during the third quarter. Neuberger Berman Group LLC now owns 714,223 shares of the semiconductor company’s stock worth $92,028,000 after purchasing an additional 107,751 shares during the period. TD Asset Management Inc. grew its stake in Universal Display by 2.8% during the third quarter. TD Asset Management Inc. now owns 641,094 shares of the semiconductor company’s stock worth $82,605,000 after purchasing an additional 17,385 shares during the period. Newbrook Capital Advisors LP grew its stake in Universal Display by 49.4% during the second quarter. Newbrook Capital Advisors LP now owns 558,174 shares of the semiconductor company’s stock worth $60,981,000 after purchasing an additional 184,683 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Universal Display by 7.1% during the third quarter. Bank of New York Mellon Corp now owns 383,915 shares of the semiconductor company’s stock worth $49,468,000 after purchasing an additional 25,479 shares during the period. 64.87% of the stock is owned by institutional investors and hedge funds.
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Universal Display Company Profile
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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