Universal Display (NASDAQ:OLED) Upgraded to “Hold” at Zacks Research

Universal Display (NASDAQ:OLED) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

Several other research analysts have also recently issued reports on the company. BTIG Research cut Universal Display to a “neutral” rating in a research note on Friday, July 31st. Weiss Ratings lowered shares of Universal Display from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Citigroup dropped their price objective on shares of Universal Display from $100.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, August 3rd. Roth Capital set a $168.00 price objective on shares of Universal Display in a research note on Friday, May 1st. Finally, Oppenheimer restated an “outperform” rating and set a $120.00 target price (down from $130.00) on shares of Universal Display in a research report on Friday, July 31st. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $116.33.

Universal Display Price Performance

Shares of OLED opened at $88.92 on Thursday. The company’s fifty day moving average price is $84.74 and its 200-day moving average price is $94.98. Universal Display has a 1-year low of $76.42 and a 1-year high of $153.38. The firm has a market capitalization of $4.09 billion, a PE ratio of 21.53 and a beta of 1.54.

Universal Display (NASDAQ:OLED) last issued its earnings results on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.03. Universal Display had a return on equity of 11.35% and a net margin of 32.24%.The company had revenue of $152.16 million during the quarter, compared to analyst estimates of $157.54 million. During the same quarter last year, the business posted $1.41 EPS. The firm’s quarterly revenue was down 11.4% on a year-over-year basis. As a group, research analysts anticipate that Universal Display will post 4.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Universal Display

Institutional investors have recently made changes to their positions in the company. Quantinno Capital Management LP grew its position in Universal Display by 776.6% during the first quarter. Quantinno Capital Management LP now owns 251,218 shares of the semiconductor company’s stock valued at $23,027,000 after buying an additional 222,561 shares during the period. Caxton Associates LLP raised its position in shares of Universal Display by 132.6% in the first quarter. Caxton Associates LLP now owns 43,818 shares of the semiconductor company’s stock worth $4,016,000 after acquiring an additional 24,977 shares during the period. Systematic Financial Management LP raised its position in shares of Universal Display by 40.2% in the fourth quarter. Systematic Financial Management LP now owns 196,515 shares of the semiconductor company’s stock worth $22,949,000 after acquiring an additional 56,320 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Universal Display during the 1st quarter worth about $11,544,000. Finally, UBS Group AG boosted its stake in shares of Universal Display by 100.8% during the 4th quarter. UBS Group AG now owns 646,787 shares of the semiconductor company’s stock worth $75,532,000 after acquiring an additional 324,677 shares in the last quarter. 78.19% of the stock is owned by hedge funds and other institutional investors.

Universal Display Company Profile

Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.