Universal Display (OLED) Upgraded to Buy at BidaskClub

BidaskClub upgraded shares of Universal Display (NASDAQ:OLED) from a hold rating to a buy rating in a report published on Saturday.

A number of other research analysts have also weighed in on the company. Goldman Sachs Group set a $139.00 price objective on Universal Display and gave the company a buy rating in a report on Friday. Gabelli downgraded Universal Display from a buy rating to a hold rating in a research report on Friday. Needham & Company LLC reissued a buy rating and set a $125.00 price objective on shares of Universal Display in a research report on Friday. ValuEngine raised Universal Display from a hold rating to a buy rating in a research report on Thursday. Finally, Oppenheimer raised their price objective on Universal Display from $120.00 to $140.00 and gave the stock an outperform rating in a research report on Tuesday, September 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $167.82.

Universal Display stock traded down $26.59 during mid-day trading on Friday, hitting $103.06. The company had a trading volume of 7,578,735 shares, compared to its average volume of 949,871. Universal Display has a 12-month low of $78.75 and a 12-month high of $209.00. The firm has a market cap of $4.85 billion, a PE ratio of 58.23 and a beta of 1.64.

Universal Display (NASDAQ:OLED) last announced its earnings results on Thursday, November 1st. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.18). Universal Display had a net margin of 24.70% and a return on equity of 12.90%. The business had revenue of $77.55 million for the quarter, compared to analysts’ expectations of $92.21 million. During the same quarter last year, the business earned $0.28 EPS. The company’s quarterly revenue was up 25.7% on a year-over-year basis. As a group, sell-side analysts forecast that Universal Display will post 1.83 earnings per share for the current fiscal year.

In other news, 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 value of $1,241,739.72. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 value of $1,792,650.00. Following the completion of the sale, the director now owns 348,950 shares in the company, valued at $41,703,014.50. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. First Hawaiian Bank acquired a new position in Universal Display in the third quarter valued at $106,000. US Bancorp DE increased its stake in Universal Display by 37.1% during the third quarter. US Bancorp DE now owns 1,714 shares of the semiconductor company’s stock worth $202,000 after acquiring an additional 464 shares during the last quarter. Oliver Luxxe Assets LLC acquired a new stake in Universal Display during the third quarter worth about $201,000. Whittier Trust Co. of Nevada Inc. increased its stake in Universal Display by 46.5% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,866 shares of the semiconductor company’s stock worth $160,000 after acquiring an additional 592 shares during the last quarter. Finally, Rothschild Investment Corp IL acquired a new stake in Universal Display during the third quarter worth about $262,000. Institutional investors and hedge funds own 73.77% of the company’s stock.

About Universal Display

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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