Shares of Universal Display Corp. (NASDAQ:OLED) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $74.39 and last traded at $73.77, with a volume of 631,843 shares trading hands. The stock had previously closed at $70.84.

Several analysts have issued reports on OLED shares. Canaccord Genuity restated a “hold” rating and set a $55.00 price target (up from $46.00) on shares of Universal Display Corp. in a research report on Monday, April 18th. 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. Goldman Sachs Group Inc. upgraded shares of Universal Display Corp. from a “neutral” rating to a “buy” rating and set a $76.00 price target for the company in a research report on Monday, May 23rd. Oppenheimer Holdings Inc. restated a “market perform” rating on shares of Universal Display Corp. in a research report on Monday, May 9th. Finally, Cowen and Company restated a “buy” rating on shares of Universal Display Corp. in a research report on Thursday, May 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $58.50.

The stock has a 50-day moving average price of $68.37 and a 200-day moving average price of $57.47. The company has a market capitalization of $3.47 billion and a P/E ratio of 232.04.

Universal Display Corp. (NASDAQ:OLED) last announced its quarterly earnings results on Thursday, May 5th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.05. The company earned $29.70 million during the quarter, compared to the consensus estimate of $32.05 million. The business’s revenue was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.03 earnings per share. On average, analysts anticipate that Universal Display Corp. will post $1.08 EPS for the current year.

Other hedge funds recently made changes to their positions in the company. Systematic Financial Management LP increased 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 worth $19,261,000 after buying an additional 27,338 shares in the last quarter. New York State Common Retirement Fund increased its stake in 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 worth $3,526,000 after buying an additional 24,235 shares during the period. California Public Employees Retirement System increased its stake in 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 worth $5,406,000 after buying an additional 7,100 shares during the period. Finally, Rhumbline Advisers increased 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.

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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