Zacks Investment Research downgraded shares of Universal Display Corporation (NASDAQ:OLED) from a strong-buy rating to a hold rating in a research report released on Tuesday.

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 equities research analysts have also recently issued reports about the stock. Susquehanna Bancshares Inc reiterated a positive rating and issued a $150.00 price objective (up from $120.00) on shares of Universal Display Corporation in a report on Wednesday, August 9th. Goldman Sachs Group Inc reiterated a buy rating and issued a $150.00 price objective (up from $140.00) on shares of Universal Display Corporation in a report on Wednesday, August 9th. BidaskClub upgraded shares of Universal Display Corporation from a sell rating to a hold rating in a report on Friday, August 25th. Deutsche Bank AG assumed coverage on shares of Universal Display Corporation in a report on Wednesday, August 30th. They issued a buy rating and a $135.00 price objective for the company. Finally, Oppenheimer Holdings, Inc. reiterated a market perform rating on shares of Universal Display Corporation in a report on Wednesday, August 9th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Universal Display Corporation presently has a consensus rating of Buy and an average price target of $121.11.

Universal Display Corporation (NASDAQ:OLED) opened at 134.30 on Tuesday. The stock has a market capitalization of $6.32 billion, a price-to-earnings ratio of 77.86 and a beta of 1.04. The firm has a 50-day moving average price of $131.52 and a 200 day moving average price of $115.33. Universal Display Corporation has a 52-week low of $49.20 and a 52-week high of $145.30.

Universal Display Corporation (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.31. The firm had revenue of $102.50 million during the quarter, compared to analysts’ expectations of $84.81 million. Universal Display Corporation had a net margin of 31.15% and a return on equity of 14.90%. Universal Display Corporation’s revenue for the quarter was up 59.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.46 earnings per share. On average, equities research analysts predict that Universal Display Corporation will post $2.14 EPS for the current year.

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The company also recently announced a quarterly dividend, which was paid on Saturday, September 30th. Shareholders of record on Friday, September 15th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date was Thursday, September 14th. Universal Display Corporation’s dividend payout ratio is 6.94%.

In other Universal Display Corporation news, CFO Sidney D. Rosenblatt sold 50,240 shares of the business’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $135.02, for a total transaction of $6,783,404.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.20% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Alps Advisors Inc. raised its position in shares of Universal Display Corporation by 0.3% during the second quarter. Alps Advisors Inc. now owns 5,776 shares of the semiconductor company’s stock valued at $631,000 after buying an additional 15 shares during the last quarter. Atlantic Trust LLC raised its position in shares of Universal Display Corporation by 0.7% during the first quarter. Atlantic Trust LLC now owns 3,735 shares of the semiconductor company’s stock valued at $322,000 after buying an additional 25 shares during the last quarter. Stifel Financial Corp raised its position in shares of Universal Display Corporation by 2.6% during the second quarter. Stifel Financial Corp now owns 3,362 shares of the semiconductor company’s stock valued at $370,000 after buying an additional 86 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Universal Display Corporation by 2.9% during the first quarter. Prudential Financial Inc. now owns 4,616 shares of the semiconductor company’s stock valued at $397,000 after buying an additional 130 shares during the last quarter. Finally, Advisor Group Inc. raised its position in shares of Universal Display Corporation by 5.3% during the second quarter. Advisor Group Inc. now owns 2,649 shares of the semiconductor company’s stock valued at $286,000 after buying an additional 134 shares during the last quarter. 64.09% of the stock is owned by institutional investors and hedge funds.

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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