Universal Display Corp. (NASDAQ:OLED) Receives $59.33 Consensus Target Price from Brokerages
Shares of Universal Display Corp. (NASDAQ:OLED) have received an average rating of “Hold” from the nine analysts that are currently covering the company. Six research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $59.33.
Several research firms have recently commented on OLED. Canaccord Genuity began coverage on shares of Universal Display Corp. in a research report on Friday, September 23rd. They set a “hold” rating and a $51.00 target price for the company. Needham & Company LLC downgraded shares of Universal Display Corp. from a “buy” rating to a “hold” rating in a research report on Friday, August 5th. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Universal Display Corp. in a research report on Thursday, June 16th. TheStreet raised shares of Universal Display Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, August 10th. Finally, Zacks Investment Research downgraded shares of Universal Display Corp. from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 13th.
In other news, Director Leonard Becker sold 5,000 shares of the stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $61.11, for a total transaction of $305,550.00. Following the completion of the transaction, the director now directly owns 19,650 shares of the company’s stock, valued at approximately $1,200,811.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.70% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Frontier Capital Management Co. LLC increased its position in Universal Display Corp. by 89.4% in the second quarter. Frontier Capital Management Co. LLC now owns 1,358,477 shares of the company’s stock worth $92,105,000 after buying an additional 641,396 shares in the last quarter. Norges Bank bought a new position in Universal Display Corp. during the fourth quarter worth $34,516,000. KEYWISE CAPITAL MANAGEMENT Ltd bought a new position in Universal Display Corp. during the second quarter worth $35,337,000. NN Investment Partners Holdings N.V. bought a new position in Universal Display Corp. during the first quarter worth $20,297,000. Finally, Lord Abbett & CO. LLC increased its position in Universal Display Corp. by 72.3% in the second quarter. Lord Abbett & CO. LLC now owns 877,809 shares of the company’s stock worth $59,515,000 after buying an additional 368,377 shares in the last quarter. 67.54% of the stock is owned by hedge funds and other institutional investors.
Shares of Universal Display Corp. (NASDAQ:OLED) opened at 52.53 on Friday. Universal Display Corp. has a 12 month low of $33.06 and a 12 month high of $74.39. The firm’s 50-day moving average is $58.22 and its 200 day moving average is $61.60. The firm has a market capitalization of $2.47 billion, a P/E ratio of 51.30 and a beta of 1.06.
Universal Display Corp. (NASDAQ:OLED) last posted 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. The business had revenue of $64.40 million for the quarter, compared to the consensus estimate of $68.68 million. Universal Display Corp. had a return on equity of 10.15% and a net margin of 24.96%. The company’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.41 earnings per share. On average, equities research analysts anticipate that Universal Display Corp. will post $0.88 EPS for the current year.
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.
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