Universal Display Corp. (OLED) Upgraded at Zacks Investment Research
Universal Display Corp. (NASDAQ:OLED) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Thursday.
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. “
OLED has been the topic of several other research reports. Canaccord Genuity reiterated a “hold” rating on shares of Universal Display Corp. in a report on Tuesday, June 28th. Cowen and Company restated a “buy” rating on shares of Universal Display Corp. in a report on Wednesday, June 29th. Oppenheimer Holdings Inc. restated a “market perform” rating on shares of Universal Display Corp. in a report on Monday, August 8th. TheStreet upgraded Universal Display Corp. from a “hold” rating to a “buy” rating in a report on Wednesday, August 10th. Finally, Needham & Company LLC restated a “buy” rating and issued a $69.00 target price on shares of Universal Display Corp. in a report on Wednesday, June 29th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $57.83.
Universal Display Corp. (NASDAQ:OLED) opened at 52.37 on Thursday. Universal Display Corp. has a 12-month low of $33.06 and a 12-month high of $74.39. The company’s 50 day moving average price is $58.67 and its 200-day moving average price is $61.67. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of 51.14 and a beta of 1.06.
Universal Display Corp. (NASDAQ:OLED) last announced its earnings results on Thursday, August 4th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.50 by $0.04. Universal Display Corp. had a net margin of 24.96% and a return on equity of 10.15%. The business had revenue of $64.40 million for the quarter, compared to the consensus estimate of $68.68 million. During the same quarter in the previous year, the company earned $0.41 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities analysts anticipate that Universal Display Corp. will post $0.88 earnings per share for the current fiscal year.
In related news, Director Leonard Becker sold 5,000 shares of the stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $61.11, for a total transaction of $305,550.00. Following the completion of the sale, the director now directly owns 19,650 shares of the company’s stock, valued at $1,200,811.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.70% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. Pictet Asset Management Ltd. purchased a new stake in Universal Display Corp. during the first quarter worth about $171,000. Primecap Management Co. CA increased its stake in Universal Display Corp. by 1.4% in the first quarter. Primecap Management Co. CA now owns 1,207,875 shares of the company’s stock worth $65,346,000 after buying an additional 16,800 shares in the last quarter. State Street Corp increased its stake in Universal Display Corp. by 2.1% in the first quarter. State Street Corp now owns 672,357 shares of the company’s stock worth $36,372,000 after buying an additional 13,941 shares in the last quarter. Cupps Capital Management LLC purchased a new stake in Universal Display Corp. during the first quarter worth about $3,270,000. Finally, Carnick & Kubik LLC purchased a new stake in Universal Display Corp. during the first quarter worth about $189,000. 67.54% of the stock is owned by institutional investors and hedge funds.
About Universal Display Corp.
Universal Display Corporation is engaged in the research, development and commercialization of organic light emitting diode (OLED), technologies and materials for use in displays for wearables, smartphones, tablets and televisions, as well as solid-state lighting applications. The Company’s flat panel displays are used for various portable consumer electronics products, such as mobile phones, wearables, portable media devices, digital cameras, tablets and notebook computers.
Receive News & Stock Ratings for Universal Display Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Display Corp. and related stocks with our FREE daily email newsletter.