Universal Display Corp. (OLED) Sees Large Volume Increase
Universal Display Corp. (NASDAQ:OLED) saw unusually-high trading volume on Monday . Approximately 1,254,402 shares traded hands during trading, an increase of 52% from the previous session’s volume of 824,505 shares.The stock last traded at $63.89 and had previously closed at $64.62.
OLED has been the subject of several research reports. Canaccord Genuity reissued a “hold” rating and set a $55.00 price objective (up from $46.00) on shares of Universal Display Corp. in a report on Monday, April 18th. Zacks Investment Research cut shares of Universal Display Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, May 10th. Goldman Sachs Group Inc. raised shares of Universal Display Corp. from a “neutral” rating to a “buy” rating and set a $76.00 price objective for the company in a report on Monday, May 23rd. Needham & Company LLC cut shares of Universal Display Corp. from a “buy” rating to a “hold” rating in a report on Friday. Finally, Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Universal Display Corp. in a report on Monday, May 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $58.00.
The firm has a market capitalization of $2.99 billion and a P/E ratio of 200.38. The stock’s 50 day moving average is $68.55 and its 200 day moving average is $58.52.
Universal Display Corp. (NASDAQ:OLED) last posted its earnings results on Thursday, August 4th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.50 by $0.04. The firm had revenue of $64.40 million for the quarter, compared to analysts’ expectations of $68.68 million. Universal Display Corp.’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period last year, the business posted $0.41 earnings per share. Equities research analysts predict that Universal Display Corp. will post $0.95 EPS for the current fiscal year.
Several institutional investors have recently bought and sold shares of OLED. Systematic Financial Management LP raised its position in 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 period. New York State Common Retirement Fund boosted 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 in the last quarter. California Public Employees Retirement System boosted 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 in the last quarter. Finally, 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 in 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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