Cowen and Company Analysts Give Universal Display Corp. (OLED) a $75.00 Price Target
OLED has been the topic of a number of other research reports. Canaccord Genuity started coverage on Universal Display Corp. in a report on Friday, September 23rd. They set a hold rating and a $51.00 price objective on the stock. Zacks Investment Research raised Universal Display Corp. from a strong sell rating to a hold rating in a report on Thursday, October 6th. Oppenheimer Holdings Inc. reissued a hold rating on shares of Universal Display Corp. in a report on Thursday, June 16th. Needham & Company LLC reissued a buy rating and set a $69.00 price objective on shares of Universal Display Corp. in a report on Wednesday, June 29th. Finally, TheStreet raised Universal Display Corp. from a hold rating to a buy rating in a report on Wednesday, August 10th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Universal Display Corp. currently has an average rating of Hold and a consensus price target of $59.50.
Shares of Universal Display Corp. (NASDAQ:OLED) opened at 49.22 on Tuesday. Universal Display Corp. has a one year low of $33.06 and a one year high of $74.39. The firm’s 50-day moving average price is $56.80 and its 200 day moving average price is $61.48. The firm has a market cap of $2.31 billion, a P/E ratio of 48.07 and a beta of 1.06.
Universal Display Corp. (NASDAQ:OLED) last issued its quarterly earnings data 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 had revenue of $64.40 million for the quarter, compared to analysts’ expectations of $68.68 million. Universal Display Corp. had a return on equity of 10.15% and a net margin of 24.96%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the company posted $0.41 EPS. Analysts predict that Universal Display Corp. will post $0.88 EPS for the current year.
In related news, Director Leonard Becker sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $61.11, for a total transaction of $305,550.00. Following the transaction, the director now directly owns 19,650 shares in the company, valued at approximately $1,200,811.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 5.70% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. BTR Capital Management Inc. bought a new position in Universal Display Corp. during the third quarter valued at about $475,000. Advisory Services Network LLC raised its stake in shares of Universal Display Corp. by 1.2% in the third quarter. Advisory Services Network LLC now owns 6,838 shares of the company’s stock worth $380,000 after buying an additional 78 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Universal Display Corp. by 113.7% in the third quarter. BNP Paribas Arbitrage SA now owns 3,498 shares of the company’s stock worth $194,000 after buying an additional 1,861 shares in the last quarter. Macquarie Group Ltd. acquired a new stake in shares of Universal Display Corp. during the second quarter worth $3,519,000. Finally, Sanctuary Wealth Advisors LLC acquired a new stake in shares of Universal Display Corp. during the second quarter worth $3,346,000. Institutional investors and hedge funds own 67.42% 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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