Universal Display Corp. (OLED) PT Set at $75.00 by Cowen and Company
Universal Display Corp. (NASDAQ:OLED) has been given a $75.00 price target by equities researchers at Cowen and Company in a report issued on Tuesday. The firm presently has a a “buy” rating on the stock. Cowen and Company’s price target points to a potential upside of 40.85% from the stock’s previous close.
A number of other equities analysts have also issued reports on OLED. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Universal Display Corp. in a research report on Thursday, June 16th. Needham & Company LLC restated a “buy” rating and set a $69.00 target price on shares of Universal Display Corp. in a research report on Wednesday, June 29th. Canaccord Genuity restated a “hold” rating on shares of Universal Display Corp. in a research report on Tuesday, June 28th. Zacks Investment Research lowered shares of Universal Display Corp. from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 13th. Finally, TheStreet upgraded shares of Universal Display Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, August 10th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $59.50.
Shares of Universal Display Corp. (NASDAQ:OLED) traded down 6.000% during midday trading on Tuesday, reaching $50.055. 1,249,412 shares of the company traded hands. The stock’s 50-day moving average is $57.97 and its 200-day moving average is $61.75. Universal Display Corp. has a 1-year low of $33.06 and a 1-year high of $74.39. The stock has a market capitalization of $2.35 billion, a P/E ratio of 48.882 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by $0.04. The business had revenue of $64.40 million for the quarter, compared to analysts’ expectations of $68.68 million. Universal Display Corp. had a return on equity of 10.15% and a net margin of 24.96%. The business’s revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the business posted $0.41 earnings per share. Equities analysts predict that Universal Display Corp. will post $0.88 EPS for the current fiscal year.
In other Universal Display Corp. news, Director Leonard Becker sold 5,000 shares of the firm’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $61.11, for a total value of $305,550.00. Following the completion of the sale, the director now owns 19,650 shares of the company’s stock, valued at $1,200,811.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 5.70% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC acquired a new stake in Universal Display Corp. during the second quarter worth approximately $104,000. Kelly Lawrence W & Associates Inc. CA acquired a new stake in Universal Display Corp. during the second quarter worth approximately $108,000. BNP Paribas Arbitrage SA increased its stake in Universal Display Corp. by 5,356.7% in the second quarter. BNP Paribas Arbitrage SA now owns 1,637 shares of the company’s stock worth $111,000 after buying an additional 1,607 shares during the period. Societe Generale acquired a new stake in Universal Display Corp. during the second quarter worth approximately $117,000. Finally, Thompson Davis & CO. Inc. increased its stake in Universal Display Corp. by 1,000.0% in the second quarter. Thompson Davis & CO. Inc. now owns 2,750 shares of the company’s stock worth $186,000 after buying an additional 2,500 shares during the period. 67.54% of the stock is owned by institutional investors.
Universal Display Corp. 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 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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