BidaskClub downgraded shares of Universal Display (NASDAQ:OLED) from a buy rating to a hold rating in a research note released on Wednesday morning.

A number of other brokerages have also recently issued reports on OLED. Zacks Investment Research upgraded Universal Display from a hold rating to a strong-buy rating and set a $168.00 price objective on the stock in a research note on Thursday, November 2nd. Cowen reiterated a buy rating and set a $140.00 price objective on shares of Universal Display in a research note on Friday, September 8th. Gabelli cut Universal Display from a buy rating to a hold rating and set a $134.00 price objective on the stock. in a research note on Friday, November 3rd. Deutsche Bank started coverage on Universal Display in a research note on Wednesday, August 30th. They set a buy rating and a $135.00 price objective on the stock. Finally, Susquehanna Bancshares reiterated a positive rating and set a $150.00 price objective (up previously from $120.00) on shares of Universal Display in a research note on Wednesday, August 9th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $155.30.

Universal Display (OLED) opened at $172.70 on Wednesday. Universal Display has a 12-month low of $55.30 and a 12-month high of $192.75. The firm has a market capitalization of $7,872.25, a P/E ratio of 82.03 and a beta of 1.06.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.19. Universal Display had a return on equity of 16.67% and a net margin of 32.92%. The company had revenue of $61.70 million for the quarter, compared to analysts’ expectations of $47.35 million. During the same quarter in the prior year, the business posted ($0.03) EPS. The business’s revenue was up 104.3% compared to the same quarter last year. equities research analysts predict that Universal Display will post 2.33 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.07%. The ex-dividend date is Thursday, December 14th. Universal Display’s dividend payout ratio (DPR) is presently 5.88%.

In related news, insider Steven V. Abramson sold 18,744 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $158.40, for a total value of $2,969,049.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Julia J. Brown sold 10,000 shares of the stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $150.00, for a total value of $1,500,000.00. Following the completion of the sale, the insider now owns 152,932 shares in the company, valued at approximately $22,939,800. The disclosure for this sale can be found here. In the last 90 days, insiders sold 196,974 shares of company stock worth $30,133,174. 5.20% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. BKS Advisors LLC bought a new stake in Universal Display in the 2nd quarter valued at $2,318,000. Balyasny Asset Management LLC bought a new position in Universal Display during the 2nd quarter worth $3,673,000. Seven Eight Capital LP increased its position in Universal Display by 9.9% during the 2nd quarter. Seven Eight Capital LP now owns 17,700 shares of the semiconductor company’s stock worth $1,934,000 after buying an additional 1,600 shares during the period. Neuberger Berman Group LLC increased its position in Universal Display by 18.2% during the 2nd quarter. Neuberger Berman Group LLC now owns 606,472 shares of the semiconductor company’s stock worth $66,257,000 after buying an additional 93,223 shares during the period. Finally, State of Wisconsin Investment Board bought a new position in Universal Display during the 2nd quarter worth $6,477,000. Institutional investors and hedge funds own 65.03% of the company’s stock.

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Universal Display 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 display and solid-state lighting applications. The Company also supplies its OLED materials to manufacturers of OLED displays and lighting products for evaluation and for use in product development and for pre-commercial activities, and it also provides technical assistance and support to these manufacturers.

Analyst Recommendations for Universal Display (NASDAQ:OLED)

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