Universal Display Corp. (NASDAQ:OLED) Receives Consensus Rating of “Hold” from Brokerages
Universal Display Corp. (NASDAQ:OLED) has been assigned an average recommendation of “Hold” from the nine brokerages that are covering the stock. Six research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $59.33.
OLED has been the subject of a number of recent analyst reports. Canaccord Genuity initiated coverage on Universal Display Corp. in a research report on Friday, September 23rd. They set a “hold” rating and a $51.00 target price for the company. Zacks Investment Research raised Universal Display Corp. from a “strong sell” rating to a “hold” rating in a research report on Thursday. TheStreet raised Universal Display Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, August 10th. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of Universal Display Corp. in a research report on Monday, August 8th. Finally, Needham & Company LLC cut Universal Display Corp. from a “buy” rating to a “hold” rating in a research report on Friday, August 5th.
Universal Display Corp. (NASDAQ:OLED) traded down 0.27% during mid-day trading on Friday, reaching $52.43. 244,874 shares of the company’s stock traded hands. The stock has a market capitalization of $2.46 billion, a PE ratio of 51.20 and a beta of 1.06. Universal Display Corp. has a 12 month low of $33.06 and a 12 month high of $74.39. The firm’s 50-day moving average price is $58.47 and its 200 day moving average price is $61.60.
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Universal Display Corp. (NASDAQ:OLED) last released its quarterly earnings data 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 firm earned $64.40 million during the quarter, compared to analyst estimates of $68.68 million. During the same quarter in the prior year, the company posted $0.41 EPS. The company’s quarterly revenue was up 10.8% on a year-over-year basis. Equities research analysts predict that Universal Display Corp. will post $0.88 EPS for the current year.
In other news, Director Leonard Becker sold 5,000 shares of the stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $61.11, for a total value of $305,550.00. Following the completion of the sale, the director now directly owns 19,650 shares of the company’s stock, valued at $1,200,811.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.70% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC purchased a new position in shares of Universal Display Corp. during the second quarter valued at approximately $104,000. Kelly Lawrence W & Associates Inc. CA purchased a new position in shares of Universal Display Corp. during the second quarter valued at approximately $108,000. BNP Paribas Arbitrage SA boosted its position in shares of Universal Display Corp. by 5,356.7% in the second quarter. BNP Paribas Arbitrage SA now owns 1,637 shares of the company’s stock valued at $111,000 after buying an additional 1,607 shares during the period. Societe Generale purchased a new position in shares of Universal Display Corp. during the second quarter valued at approximately $117,000. Finally, BlackRock Inc. boosted its position in shares of Universal Display Corp. by 66.6% in the first quarter. BlackRock Inc. now owns 2,993 shares of the company’s stock valued at $162,000 after buying an additional 1,197 shares during the period. 67.54% of the stock is owned by 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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