Universal Display Corp. (OLED) Upgraded to “Hold” by Zacks Investment Research
According to Zacks, “Universal Display Corporation is located in the Princeton Crossroads Corporate Center in Ewing, New Jersey, minutes away from its research partner at Princeton University. Universal Display’s state-of-the-art facility is designed to further technology and materials development, technology transfer to manufacturing partners and work with customers to develop OLED products that meet their needs. “
A number of other brokerages also recently issued reports on OLED. Needham & Company LLC downgraded shares of Universal Display Corp. from a buy rating to a hold rating in a report on Friday, August 5th. Oppenheimer Holdings Inc. restated a hold rating on shares of Universal Display Corp. in a report on Thursday, June 16th. Cowen and Company restated a buy rating on shares of Universal Display Corp. in a report on Wednesday, June 29th. Canaccord Genuity restated a hold rating on shares of Universal Display Corp. in a report on Tuesday, June 28th. Finally, TheStreet upgraded shares of Universal Display Corp. from a hold rating to a buy rating in a report on Wednesday, August 10th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $57.83.
Universal Display Corp. (NASDAQ:OLED) traded down 0.40% during mid-day trading on Thursday, reaching $52.36. The company’s stock had a trading volume of 121,498 shares. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of 51.13 and a beta of 1.06. Universal Display Corp. has a 52 week low of $33.06 and a 52 week high of $74.39. The company’s 50-day moving average price is $58.47 and its 200 day moving average price is $61.60.
Universal Display Corp. (NASDAQ:OLED) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.46 earnings per share (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. Universal Display Corp. had a return on equity of 10.15% and a net margin of 24.96%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 EPS. On average, equities analysts forecast that Universal Display Corp. will post $0.88 earnings per share for the current fiscal year.
In related news, Director Leonard Becker sold 5,000 shares of Universal Display Corp. stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $61.11, for a total value of $305,550.00. Following the completion of the sale, the director now owns 19,650 shares in the company, valued at approximately $1,200,811.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.70% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of OLED. Tower Research Capital LLC TRC bought a new stake in Universal Display Corp. during the second quarter valued at $104,000. Kelly Lawrence W & Associates Inc. CA bought a new stake in Universal Display Corp. during the second quarter valued at $108,000. BNP Paribas Arbitrage SA increased its stake in Universal Display Corp. by 5,356.7% in the second quarter. BNP Paribas Arbitrage SA now owns 1,637 shares of the company’s stock valued at $111,000 after buying an additional 1,607 shares during the period. Societe Generale bought a new stake in Universal Display Corp. during the second quarter valued at $117,000. Finally, BlackRock Inc. boosted its position in shares of Universal Display Corp. by 66.6% in the first quarter. BlackRock Inc. now owns 2,993 shares of the company’s stock valued at $162,000 after buying an additional 1,197 shares in the last quarter. Hedge funds and other institutional investors own 67.54% of the company’s stock.
Universal Display Corp. Company Profile
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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