A number of other equities analysts have also recently commented on OLED. Cowen and Company reiterated a buy rating on shares of Universal Display Corp. in a report on Thursday, May 26th. Oppenheimer Holdings Inc. reiterated a hold rating on shares of Universal Display Corp. in a report on Thursday, June 16th. Needham & Company LLC reiterated a buy rating and set a $69.00 price target on shares of Universal Display Corp. in a report on Wednesday, June 29th. Zacks Investment Research cut Universal Display Corp. from a hold rating to a strong sell rating in a report on Wednesday, July 13th. Finally, TheStreet upgraded shares of Universal Display Corp. from a hold rating to a buy rating in a research report on Wednesday, August 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Universal Display Corp. has a consensus rating of Hold and an average price target of $57.83.
Universal Display Corp. (NASDAQ:OLED) traded down 1.12% during midday trading on Friday, reaching $58.16. The company had a trading volume of 112,776 shares. Universal Display Corp. has a one year low of $32.47 and a one year high of $74.39. The stock’s 50 day moving average is $60.03 and its 200 day moving average is $61.36. The company has a market capitalization of $2.73 billion, a PE ratio of 56.80 and a beta of 0.99.
Universal Display Corp. (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by $0.04. Universal Display Corp. had a return on equity of 10.15% and a net margin of 24.96%. The business had revenue of $64.40 million for the quarter, compared to the consensus estimate of $68.68 million. During the same quarter in the previous year, the business posted $0.41 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Equities research analysts forecast that Universal Display Corp. will post $0.88 earnings per share for the current fiscal year.
In other Universal Display Corp. news, Director Leonard Becker sold 5,000 shares of the business’s stock in a transaction 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 sale, the director now owns 19,650 shares of the company’s stock, valued at $1,200,811.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 5.70% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Frontier Capital Management Co. LLC boosted its stake in Universal Display Corp. by 89.4% in the second quarter. Frontier Capital Management Co. LLC now owns 1,358,477 shares of the company’s stock worth $92,105,000 after buying an additional 641,396 shares during the last quarter. Norges Bank bought a new stake in Universal Display Corp. during the fourth quarter worth $34,516,000. KEYWISE CAPITAL MANAGEMENT Ltd bought a new stake in Universal Display Corp. during the second quarter worth $35,337,000. NN Investment Partners Holdings N.V. bought a new stake in Universal Display Corp. during the first quarter worth $20,297,000. Finally, Lord Abbett & CO. LLC boosted its stake in Universal Display Corp. by 72.3% in the second quarter. Lord Abbett & CO. LLC now owns 877,809 shares of the company’s stock worth $59,515,000 after buying an additional 368,377 shares during the last quarter. 67.54% of the stock is currently owned by hedge funds and other institutional investors.
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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