Universal Display (OLED) Price Target Raised to $140.00 at CIBC

Universal Display (NASDAQ:OLED) had its price objective increased by analysts at CIBC from $120.00 to $140.00 in a research report issued to clients and investors on Tuesday. The firm currently has an “outperform” rating on the semiconductor company’s stock. CIBC’s target price indicates a potential upside of 16.62% from the stock’s current price.

OLED has been the subject of a number of other reports. BidaskClub upgraded shares of Universal Display from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 10th. Oppenheimer upped their price objective on shares of Universal Display from $120.00 to $140.00 and gave the stock an “outperform” rating in a research report on Tuesday. Citigroup began coverage on shares of Universal Display in a research report on Tuesday, September 4th. They set a “buy” rating and a $153.00 price objective for the company. ValuEngine cut shares of Universal Display from a “buy” rating to a “hold” rating in a research report on Tuesday, September 4th. Finally, Zacks Investment Research upgraded shares of Universal Display from a “sell” rating to a “hold” rating in a research report on Saturday, August 11th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $171.75.

Shares of OLED traded down $1.70 during trading hours on Tuesday, hitting $120.05. The stock had a trading volume of 2,906 shares, compared to its average volume of 1,002,914. Universal Display has a fifty-two week low of $78.75 and a fifty-two week high of $209.00. The stock has a market cap of $5.73 billion, a P/E ratio of 49.28 and a beta of 1.74.

Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, August 9th. The semiconductor company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.08. Universal Display had a net margin of 22.76% and a return on equity of 11.59%. The firm had revenue of $56.15 million during the quarter, compared to analysts’ expectations of $49.64 million. During the same period in the previous year, the business posted $0.99 EPS. The business’s revenue was down 45.2% compared to the same quarter last year. analysts forecast that Universal Display will post 1.83 earnings per share for the current fiscal year.

In other news, Director Lawrence Lacerte sold 15,000 shares of the company’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $119.51, for a total transaction of $1,792,650.00. Following the completion of the sale, the director now owns 348,950 shares of the company’s stock, valued at $41,703,014.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Mauro Premutico sold 10,044 shares of the company’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $123.63, for a total transaction of $1,241,739.72. The disclosure for this sale can be found here. 4.00% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Summit X LLC grew its holdings in shares of Universal Display by 11.1% during the second quarter. Summit X LLC now owns 17,013 shares of the semiconductor company’s stock worth $1,463,000 after buying an additional 1,702 shares in the last quarter. Royal London Asset Management Ltd. purchased a new stake in shares of Universal Display during the second quarter worth $2,352,000. Northern Trust Corp grew its holdings in shares of Universal Display by 5.5% during the second quarter. Northern Trust Corp now owns 233,576 shares of the semiconductor company’s stock worth $20,088,000 after buying an additional 12,187 shares in the last quarter. Chicago Partners Investment Group LLC grew its holdings in shares of Universal Display by 2,258.1% during the second quarter. Chicago Partners Investment Group LLC now owns 6,862 shares of the semiconductor company’s stock worth $590,000 after buying an additional 6,571 shares in the last quarter. Finally, Schroder Investment Management Group purchased a new stake in shares of Universal Display during the second quarter worth $10,375,000. 72.56% of the stock is owned by institutional investors and hedge funds.

Universal Display Company Profile

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.

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Analyst Recommendations for Universal Display (NASDAQ:OLED)

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