Universal Display Corp. (NASDAQ:OLED)’s share price traded down 2.9% during trading on Monday . The company traded as low as $59.76 and last traded at $60.48, with a volume of 492,209 shares traded. The stock had previously closed at $62.30.

A number of equities analysts have 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, August 10th. 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 price objective on shares of Universal Display Corp. in a research report on Sunday, August 7th. Needham & Company LLC cut 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 cut shares of Universal Display Corp. from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned 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 firm has a market capitalization of $2.85 billion and a P/E ratio of 59.27. The stock’s 50 day moving average price is $67.04 and its 200 day moving average price is $59.28.

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

An institutional investor recently raised its position in Universal Display Corp. stock. New York State Common Retirement Fund increased 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 institutional investor 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 approximately 0.14% of Universal Display Corp. worth $3,526,000 at the end of the most recent 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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