Shares of Universal Display Corp. (NASDAQ:OLED) have been assigned a consensus recommendation of “Hold” from the nine research firms that are currently covering the firm. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $59.33.
Several brokerages have issued reports on OLED. Needham & Company LLC cut shares of Universal Display Corp. from a “buy” rating to a “hold” rating in a report on Friday, August 5th. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of Universal Display Corp. in a research note on Monday, August 8th. Canaccord Genuity reiterated a “hold” rating on shares of Universal Display Corp. in a research note on Tuesday, June 28th. TheStreet upgraded shares of Universal Display Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, August 10th. Finally, Cowen and Company reiterated a “buy” rating on shares of Universal Display Corp. in a research note on Wednesday, June 29th.
Shares of Universal Display Corp. (NASDAQ:OLED) opened at 52.53 on Friday. Universal Display Corp. has a 1-year low of $33.06 and a 1-year high of $74.39. The stock has a market capitalization of $2.47 billion, a PE ratio of 51.30 and a beta of 1.06. The firm has a 50-day moving average of $58.22 and a 200 day moving average of $61.60.
Universal Display Corp. (NASDAQ:OLED) last issued its earnings results on Thursday, August 4th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by $0.04. The firm earned $64.40 million during 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 firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period last year, the firm posted $0.41 earnings per share. 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 business’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $61.11, for a total transaction of $305,550.00. Following the completion of the sale, the director now directly owns 19,650 shares in the company, valued at $1,200,811.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.70% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Glenmede Trust Co. NA raised its stake in shares of Universal Display Corp. by 0.4% in the first quarter. Glenmede Trust Co. NA now owns 7,440 shares of the company’s stock valued at $402,000 after buying an additional 32 shares during the period. Advisory Services Network LLC raised its position in 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 during the last quarter. Royal Bank of Canada raised its position in Universal Display Corp. by 2.2% in the second quarter. Royal Bank of Canada now owns 4,690 shares of the company’s stock worth $318,000 after buying an additional 100 shares during the last quarter. Amalgamated Bank raised its position in Universal Display Corp. by 3.4% in the second quarter. Amalgamated Bank now owns 4,382 shares of the company’s stock worth $270,000 after buying an additional 146 shares during the last quarter. Finally, ProShare Advisors LLC raised its position in Universal Display Corp. by 3.1% in the second quarter. ProShare Advisors LLC now owns 5,074 shares of the company’s stock worth $344,000 after buying an additional 151 shares during the last quarter. Institutional investors own 67.54% of the company’s stock.
About Universal Display Corp.
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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