Universal Display Corp. (NASDAQ:OLED) was up 7% during trading on Wednesday . The stock traded as high as $72.87 and last traded at $72.03, with a volume of 876,818 shares trading hands. The stock had previously closed at $67.33.

Several equities research analysts have recently commented on OLED shares. Zacks Investment Research lowered shares of Universal Display Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, May 10th. Canaccord Genuity reissued a “hold” rating and issued a $55.00 target price (up from $46.00) on shares of Universal Display Corp. in a report on Monday, April 18th. Goldman Sachs Group Inc. raised shares of Universal Display Corp. from a “neutral” rating to a “buy” rating and set a $76.00 target price for the company in a report on Monday, May 23rd. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Universal Display Corp. in a report on Monday, May 9th. Finally, Cowen and Company reissued a “buy” rating on shares of Universal Display Corp. in a report on Wednesday, June 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $58.50.

The firm has a 50 day moving average price of $68.30 and a 200-day moving average price of $57.11. The firm has a market cap of $3.39 billion and a price-to-earnings ratio of 226.55.

Universal Display Corp. (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, May 5th. The company reported $0.04 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.05. The business earned $29.70 million during the quarter, compared to analysts’ expectations of $32.05 million. The firm’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.03 earnings per share. Equities research analysts expect that Universal Display Corp. will post $1.08 EPS for the current year.

Other hedge funds have bought and sold shares of the company. Rhumbline Advisers boosted its stake in Universal Display Corp. by 6.0% in the fourth quarter. Rhumbline Advisers now owns 45,413 shares of the company’s stock worth $2,472,000 after buying an additional 2,570 shares during the period. New York State Common Retirement Fund boosted its stake in shares of Universal Display Corp. by 59.8% in the fourth quarter. New York State Common Retirement Fund now owns 64,774 shares of the company’s stock valued at $3,526,000 after buying an additional 24,235 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of Universal Display Corp. by 7.7% in the fourth quarter. California Public Employees Retirement System now owns 99,300 shares of the company’s stock valued at $5,406,000 after buying an additional 7,100 shares during the last quarter. Finally, Systematic Financial Management LP boosted its stake in shares of Universal Display Corp. by 8.4% in the fourth quarter. Systematic Financial Management LP now owns 353,815 shares of the company’s stock valued at $19,261,000 after buying an additional 27,338 shares during the last quarter.

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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