Universal Display Corp. (OLED) Stock Rating Upgraded by Zacks Investment Research
Universal Display Corp. (NASDAQ:OLED) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Thursday.
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 research analysts also recently commented on OLED. 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 issued a $69.00 price objective on shares of Universal Display Corp. in a report on Wednesday, June 29th. Cowen and Company reiterated a “buy” rating on shares of Universal Display Corp. in a report on Wednesday, June 29th. Canaccord Genuity reiterated a “hold” rating on shares of Universal Display Corp. in a report on Tuesday, June 28th. Finally, TheStreet upgraded Universal Display Corp. from a “hold” rating to a “buy” rating in a report on Wednesday, August 10th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Universal Display Corp. currently has an average rating of “Hold” and a consensus target price of $57.83.
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Shares of Universal Display Corp. (NASDAQ:OLED) traded down 0.08% during mid-day trading on Thursday, hitting $52.53. The stock had a trading volume of 676,026 shares. The stock’s 50-day moving average price is $58.22 and its 200-day moving average price is $61.60. The firm has a market cap of $2.47 billion, a PE ratio of 51.30 and a beta of 1.06. Universal Display Corp. has a 52-week low of $33.06 and a 52-week high of $74.39.
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 the Thomson Reuters’ consensus estimate of $0.50 by $0.04. The company 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 quarter in the prior year, the firm posted $0.41 EPS. On average, analysts anticipate 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 Universal Display Corp. stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $61.11, for a total transaction of $305,550.00. Following the sale, the director now directly owns 19,650 shares of the company’s stock, valued at approximately $1,200,811.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.70% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Universal Display Corp. by 2.5% in the second quarter. Vanguard Group Inc. now owns 3,082,130 shares of the company’s stock valued at $208,968,000 after buying an additional 75,002 shares during the last quarter. 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 valued at $92,105,000 after buying an additional 641,396 shares during the last quarter. Primecap Management Co. CA boosted its stake in Universal Display Corp. by 1.4% in the first quarter. Primecap Management Co. CA now owns 1,207,875 shares of the company’s stock valued at $65,346,000 after buying an additional 16,800 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Universal Display Corp. by 2.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,031,268 shares of the company’s stock valued at $69,920,000 after buying an additional 21,521 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its stake in Universal Display Corp. by 2.8% in the second quarter. BlackRock Fund Advisors now owns 999,978 shares of the company’s stock valued at $67,799,000 after buying an additional 27,224 shares during the last quarter. 67.54% of the stock is currently owned by institutional investors and hedge funds.
Universal Display Corp. 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 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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