Universal Display Corporation (NASDAQ:OLED) Upgraded by Zacks Investment Research to Strong-Buy
Universal Display Corporation (NASDAQ:OLED) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday. The brokerage presently has a $136.00 price target on the semiconductor company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 17.19% from the stock’s current price.
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. “
Other research analysts have also recently issued reports about the company. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $150.00 price objective (up from $140.00) on shares of Universal Display Corporation in a research report on Wednesday. Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of Universal Display Corporation in a research report on Wednesday. Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $150.00 price objective (up from $120.00) on shares of Universal Display Corporation in a research report on Wednesday. BidaskClub cut Universal Display Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. Finally, Cross Research raised Universal Display Corporation from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research report on Friday, May 5th. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $118.00.
Shares of Universal Display Corporation (NASDAQ:OLED) opened at 116.05 on Thursday. The stock’s 50 day moving average price is $117.40 and its 200 day moving average price is $95.75. The firm has a market capitalization of $5.46 billion, a price-to-earnings ratio of 96.79 and a beta of 1.05. Universal Display Corporation has a one year low of $47.88 and a one year high of $130.65.
Universal Display Corporation (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.31. The company had revenue of $102.50 million during the quarter, compared to analysts’ expectations of $84.81 million. Universal Display Corporation had a return on equity of 14.90% and a net margin of 31.15%. Universal Display Corporation’s revenue for the quarter was up 59.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.46 earnings per share. Analysts expect that Universal Display Corporation will post $2.08 EPS for the current fiscal year.
In related news, CEO Steven V. Abramson sold 18,000 shares of the stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $124.53, for a total transaction of $2,241,540.00. Following the completion of the transaction, the chief executive officer now directly owns 262,888 shares of the company’s stock, valued at $32,737,442.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Leonard Becker sold 3,750 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $114.24, for a total value of $428,400.00. Following the completion of the sale, the director now directly owns 13,750 shares of the company’s stock, valued at $1,570,800. The disclosure for this sale can be found here. Insiders have sold 31,750 shares of company stock valued at $3,919,940 over the last three months. Insiders own 5.70% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Westpac Banking Corp acquired a new stake in Universal Display Corporation during the first quarter worth about $885,000. IFP Advisors Inc boosted its stake in Universal Display Corporation by 307.5% in the second quarter. IFP Advisors Inc now owns 1,080 shares of the semiconductor company’s stock worth $118,000 after buying an additional 815 shares during the last quarter. Dubuque Bank & Trust Co. acquired a new stake in Universal Display Corporation during the first quarter worth about $125,000. BNP Paribas Arbitrage SA boosted its stake in Universal Display Corporation by 79.4% in the second quarter. BNP Paribas Arbitrage SA now owns 1,536 shares of the semiconductor company’s stock worth $168,000 after buying an additional 680 shares during the last quarter. Finally, FNY Partners Fund LP acquired a new stake in Universal Display Corporation during the first quarter worth about $146,000. 69.40% of the stock is owned by institutional investors.
Universal Display Corporation 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 display and solid-state lighting applications. The Company also supplies its OLED materials to manufacturers of OLED displays and lighting products for evaluation and for use in product development and for pre-commercial activities, and it also provides technical assistance and support to these manufacturers.
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