Universal Display Corporation (NASDAQ:OLED) Stock Has Consensus Price Target of $114.00

Universal Display Corporation (NASDAQ:OLED – Get Free Report) has received an average recommendation of “Hold” from the eight research firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $114.00.

A number of analysts recently weighed in on the company. BTIG Research downgraded Universal Display to a “neutral” rating in a research note on Friday, July 31st. Citigroup cut shares of Universal Display from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $85.00 to $71.00 in a research note on Thursday, October 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Universal Display in a report on Monday. Oppenheimer reiterated an “outperform” rating and issued a $120.00 price objective (down from $130.00) on shares of Universal Display in a research note on Friday, July 31st. Finally, Zacks Research upgraded shares of Universal Display from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 13th.

Read Our Latest Stock Report on Universal Display

Universal Display Price Performance

NASDAQ:OLED opened at $90.36 on Friday. The stock’s 50 day simple moving average is $80.71 and its 200-day simple moving average is $92.79. Universal Display has a 12-month low of $70.77 and a 12-month high of $152.24.

Universal Display (NASDAQ:OLED – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.03. The company had revenue of $152.16 million for the quarter, compared to analyst estimates of $157.54 million. Universal Display’s revenue for the quarter was down 11.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.41 earnings per share. On average, analysts forecast that Universal Display will post 4.17 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in OLED. Pension & Wealth Management Advisors Inc. acquired a new stake in shares of Universal Display in the 3rd quarter worth approximately $28,000. NFSG Corp purchased a new position in Universal Display in the 3rd quarter valued at approximately $31,000. Elevation Wealth Partners LLC acquired a new position in Universal Display during the third quarter worth $51,000. Versant Capital Management Inc raised its holdings in Universal Display by 347.8% during the third quarter. Versant Capital Management Inc now owns 703 shares of the semiconductor company’s stock worth $54,000 after purchasing an additional 546 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in Universal Display by 110.3% during the third quarter. Signaturefd LLC now owns 936 shares of the semiconductor company’s stock worth $72,000 after purchasing an additional 491 shares during the last quarter. 78.19% of the stock is owned by hedge funds and other institutional investors.

Universal Display Company Profile

(Get Free Report)

Universal Display Corporation (NASDAQ: OLED) develops and commercializes technologies and materials used in organic light-emitting diode (OLED) displays and lighting. The company’s portfolio includes phosphorescent OLED (PHOLED) materials, which are designed to improve display efficiency, along with OLED research, development and manufacturing technologies.

Universal Display supplies OLED emitter materials and related products to display manufacturers and licenses its intellectual property and technology.

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Analyst Recommendations for Universal Display (NASDAQ:OLED)

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