Universal Display Corp. (OLED) Shares Down 2.7%
Universal Display Corp. (NASDAQ:OLED)’s share price traded down 2.7% during trading on Friday . The company traded as low as $58.82 and last traded at $60.03, with a volume of 1,374,000 shares traded. The stock had previously closed at $61.72.
A number of equities analysts have recently commented on the stock. TheStreet raised shares of Universal Display Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of Universal Display Corp. in a research report on Monday, August 8th. Canaccord Genuity reaffirmed a “hold” rating and set a $52.00 target price on shares of Universal Display Corp. in a research report on Sunday, August 7th. Needham & Company LLC lowered shares of Universal Display Corp. from a “buy” rating to a “hold” rating in a research report on Friday, August 5th. Finally, Zacks Investment Research lowered shares of Universal Display Corp. from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $58.00.
The firm has a market cap of $2.80 billion and a P/E ratio of 58.26. The stock’s 50-day moving average is $67.75 and its 200 day moving average is $58.79.
Universal Display Corp. (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by $0.04. The company had revenue of $64.40 million for the quarter, compared to analysts’ expectations of $68.68 million. The company’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 EPS. On average, equities research analysts predict that Universal Display Corp. will post $0.89 EPS for the current year.
A number of institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers raised its position in Universal Display Corp. by 6.0% in the fourth quarter. Rhumbline Advisers now owns 45,413 shares of the company’s stock valued at $2,472,000 after buying an additional 2,570 shares during the last quarter. California Public Employees Retirement System raised its position 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 valued at $5,406,000 after buying an additional 7,100 shares during the last quarter. Finally, New York State Common Retirement Fund raised its position 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 valued at $3,526,000 after buying an additional 24,235 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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