BidaskClub Downgrades Universal Display Corporation (OLED) to Sell
Universal Display Corporation (NASDAQ:OLED) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Saturday.
Several other equities analysts have also weighed in on OLED. Cross Research raised Universal Display Corporation from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a research note on Friday, May 5th. Goldman Sachs Group, Inc. (The) raised their price target on Universal Display Corporation from $100.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, May 8th. Gabelli reissued a “buy” rating on shares of Universal Display Corporation in a research report on Monday, May 8th. Cowen and Company set a $140.00 target price on Universal Display Corporation and gave the company a “buy” rating in a research report on Friday, August 4th. Finally, Zacks Investment Research lowered Universal Display Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $118.00.
Shares of Universal Display Corporation (OLED) opened at 111.45 on Friday. The company has a 50-day moving average of $116.92 and a 200 day moving average of $97.77. The firm has a market cap of $5.24 billion, a P/E ratio of 64.61 and a beta of 1.05. Universal Display Corporation has a 12-month low of $47.88 and a 12-month high of $130.65.
Universal Display Corporation (NASDAQ:OLED) last announced its earnings results on Thursday, August 3rd. The semiconductor company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.68 by $0.31. The company had revenue of $102.50 million for 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%. The business’s revenue for the quarter was up 59.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.46 earnings per share. Equities analysts predict that Universal Display Corporation will post $2.14 EPS for the current year.
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In related news, Director Leonard Becker sold 3,750 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $114.24, for a total transaction of $428,400.00. Following the transaction, the director now directly owns 13,750 shares of the company’s stock, valued at approximately $1,570,800. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Julia J. Brown sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $125.00, for a total value of $1,250,000.00. Following the transaction, the insider now directly owns 162,932 shares in the company, valued at $20,366,500. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,750 shares of company stock worth $3,919,940. 5.70% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of OLED. IFP Advisors Inc increased its stake in shares of Universal Display Corporation by 307.5% in the second quarter. IFP Advisors Inc now owns 1,080 shares of the semiconductor company’s stock valued at $118,000 after buying an additional 815 shares during the period. Dubuque Bank & Trust Co. purchased a new position in shares of Universal Display Corporation during the first quarter valued at $125,000. FNY Partners Fund LP purchased a new position in shares of Universal Display Corporation during the first quarter valued at $146,000. Invictus RG purchased a new position in shares of Universal Display Corporation during the first quarter valued at $152,000. Finally, BNP Paribas Arbitrage SA raised its position in shares of 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 valued at $168,000 after buying an additional 680 shares during the period. 69.40% of the stock is owned by hedge funds and other institutional investors.
About Universal Display Corporation
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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