Universal Display Corporation (NASDAQ:OLED) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
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. “
Several other equities analysts also recently commented on OLED. Summit Redstone reiterated a “hold” rating and issued a $95.00 target price on shares of Universal Display Corporation in a research report on Tuesday, August 1st. Cowen and Company restated an “outperform” rating and set a $130.00 price objective on shares of Universal Display Corporation in a research report on Tuesday, August 1st. Susquehanna Bancshares Inc restated a “positive” rating and set a $150.00 price objective (up from $120.00) on shares of Universal Display Corporation in a research report on Wednesday, August 9th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $150.00 price objective (up from $140.00) on shares of Universal Display Corporation in a research report on Wednesday, August 9th. Finally, Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of Universal Display Corporation in a research report on Wednesday, August 9th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $139.78.
Universal Display Corporation (OLED) opened at $177.05 on Tuesday. The company has a market capitalization of $8,274.44, a PE ratio of 86.22 and a beta of 1.03. Universal Display Corporation has a 1 year low of $52.10 and a 1 year high of $178.71.
Universal Display Corporation (NASDAQ:OLED) last posted its earnings results on Thursday, November 2nd. The semiconductor company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.09 by $0.19. The firm had revenue of $61.70 million during the quarter, compared to the consensus estimate of $47.35 million. Universal Display Corporation had a return on equity of 16.67% and a net margin of 32.92%. The business’s quarterly revenue was up 104.3% on a year-over-year basis. During the same period last year, the company earned ($0.03) earnings per share. equities analysts expect that Universal Display Corporation will post 2.33 EPS for the current fiscal year.
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In related news, Director Lawrence Lacerte sold 16,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $166.04, for a total transaction of $2,739,660.00. Following the completion of the sale, the director now owns 350,000 shares of the company’s stock, valued at $58,114,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sidney D. Rosenblatt sold 50,240 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $135.02, for a total value of $6,783,404.80. The disclosure for this sale can be found here. Insiders have sold 196,974 shares of company stock valued at $30,133,174 in the last ninety days. 5.20% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Columbus Circle Investors grew its stake in Universal Display Corporation by 24.1% during the third quarter. Columbus Circle Investors now owns 843,537 shares of the semiconductor company’s stock worth $108,690,000 after purchasing an additional 163,569 shares during the period. State Street Corp grew its stake in Universal Display Corporation by 3.1% during the first quarter. State Street Corp now owns 788,727 shares of the semiconductor company’s stock worth $67,909,000 after purchasing an additional 23,770 shares during the period. TD Asset Management Inc. grew its stake in Universal Display Corporation by 2.8% during the third quarter. TD Asset Management Inc. now owns 641,094 shares of the semiconductor company’s stock worth $82,605,000 after purchasing an additional 17,385 shares during the period. Neuberger Berman Group LLC grew its stake in Universal Display Corporation by 18.2% during the second quarter. Neuberger Berman Group LLC now owns 606,472 shares of the semiconductor company’s stock worth $66,257,000 after purchasing an additional 93,223 shares during the period. Finally, Newbrook Capital Advisors LP grew its stake in Universal Display Corporation by 49.4% during the second quarter. Newbrook Capital Advisors LP now owns 558,174 shares of the semiconductor company’s stock worth $60,981,000 after purchasing an additional 184,683 shares during the period. 64.20% of the stock is owned by institutional investors and hedge funds.
Universal Display Corporation 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.
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