Cowen and Company Reiterates $75.00 Price Target for Universal Display Corp. (OLED)
Universal Display Corp. (NASDAQ:OLED) received a $75.00 price objective from stock analysts at Cowen and Company in a research note issued on Tuesday. The firm currently has a a “buy” rating on the stock. Cowen and Company’s target price would suggest a potential upside of 48.69% from the company’s current price.
A number of other equities analysts have also recently commented on the company. Canaccord Genuity started coverage on Universal Display Corp. in a report on Friday, September 23rd. They set a “hold” rating and a $51.00 price target for the company. Zacks Investment Research raised Universal Display Corp. from a “strong sell” rating to a “hold” rating in a report on Thursday, October 6th. TheStreet raised Universal Display Corp. from a “hold” rating to a “buy” rating in a report on Wednesday, August 10th. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Universal Display Corp. in a report on Monday, August 8th. Finally, Needham & Company LLC cut Universal Display Corp. from a “buy” rating to a “hold” rating in a report on Friday, August 5th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $59.50.
Universal Display Corp. (NASDAQ:OLED) traded down 5.28% during trading on Tuesday, reaching $50.44. The company’s stock had a trading volume of 1,634,457 shares. The firm has a 50 day moving average price of $57.67 and a 200-day moving average price of $61.67. Universal Display Corp. has a 52-week low of $33.06 and a 52-week high of $74.39. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 49.26 and a beta of 1.06.
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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 analyst estimates of $68.68 million. During the same period last year, the firm posted $0.41 EPS. Universal Display Corp.’s quarterly revenue was up 10.8% on a year-over-year basis. On average, analysts expect that Universal Display Corp. will post $0.88 earnings per share for the current year.
In related news, Director Leonard Becker sold 5,000 shares of the business’s stock in a transaction 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 owns 19,650 shares in the company, valued at approximately $1,200,811.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 5.70% of the company’s stock.
Large investors have recently modified their holdings of the company. Frontier Capital Management Co. LLC raised its stake in shares of 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 in the last quarter. KEYWISE CAPITAL MANAGEMENT Ltd purchased a new stake in shares of Universal Display Corp. during the second quarter worth $35,337,000. Lord Abbett & CO. LLC raised its stake in shares of 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 in the last quarter. Eagle Asset Management Inc. purchased a new stake in shares of Universal Display Corp. during the second quarter worth $22,395,000. Finally, Quentec Asset Management LLC raised its stake in shares of Universal Display Corp. by 97.8% in the first quarter. Quentec Asset Management LLC now owns 309,458 shares of the company’s stock worth $16,742,000 after buying an additional 153,000 shares in the last quarter. Institutional investors and hedge funds own 67.54% of the company’s stock.
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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