Universal Display Corp. (NASDAQ:OLED) traded up 3.5% on Thursday . The company traded as high as $61.44 and last traded at $61.44, with a volume of 371,846 shares trading hands. The stock had previously closed at $59.34.

A number of equities research analysts recently weighed in on the stock. Needham & Company LLC cut shares of Universal Display Corp. to a “buy” rating and boosted their price target for the company from $57.00 to $62.00 in a research report on Sunday, May 8th. Zacks Investment Research raised shares of Universal Display Corp. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 3rd. Gabelli cut shares of Universal Display Corp. from a “buy” rating to a “hold” rating and set a $51.00 price target for the company. in a research report on Friday, May 6th. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Universal Display Corp. in a research report on Monday, August 8th. Finally, Cowen and Company reissued a “buy” rating on shares of Universal Display Corp. in a research report on Thursday, May 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Universal Display Corp. currently has a consensus rating of “Hold” and a consensus price target of $58.00.

The company’s 50 day moving average price is $67.20 and its 200 day moving average price is $59.19. The firm has a market capitalization of $2.88 billion and a price-to-earnings ratio of 59.79.

Universal Display Corp. (NASDAQ:OLED) last issued its earnings results on Thursday, August 4th. The company reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.04. The firm had revenue of $64.40 million for the quarter, compared to analyst estimates of $68.68 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Equities analysts anticipate that Universal Display Corp. will post $0.89 EPS for the current fiscal year.

A hedge fund recently raised its stake in Universal Display Corp. stock. New York State Common Retirement Fund boosted its position in shares of Universal Display Corp. (NASDAQ:OLED) by 59.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 64,774 shares of the company’s stock after buying an additional 24,235 shares during the period. New York State Common Retirement Fund owned 0.14% of Universal Display Corp. worth $3,526,000 as of its most recent filing with the SEC.

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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