Universal Display Corporation (OLED) Rating Reiterated by Needham & Company LLC
Universal Display Corporation (NASDAQ:OLED)‘s stock had its “hold” rating restated by stock analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday.
A number of other equities analysts also recently weighed in on OLED. TheStreet downgraded shares of Universal Display Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, November 8th. Zacks Investment Research downgraded shares of Universal Display Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, January 4th. Canaccord Genuity reissued a “hold” rating and issued a $49.00 price objective (down previously from $51.00) on shares of Universal Display Corporation in a research report on Tuesday, November 1st. Oppenheimer Holdings, Inc. reissued a “market perform” rating on shares of Universal Display Corporation in a research report on Monday, November 7th. Finally, Gabelli raised shares of Universal Display Corporation from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research report on Friday, November 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. Universal Display Corporation currently has a consensus rating of “Hold” and an average target price of $67.40.
Universal Display Corporation (NASDAQ:OLED) traded up 0.35% during midday trading on Wednesday, hitting $58.00. 153,404 shares of the stock traded hands. The company’s 50-day moving average is $57.45 and its 200-day moving average is $59.61. The company has a market cap of $2.72 billion, a PE ratio of 69.63 and a beta of 1.31. Universal Display Corporation has a one year low of $40.44 and a one year high of $74.39.
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Universal Display Corporation (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, November 3rd. The company reported ($0.03) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.01. The company had revenue of $30.20 million for the quarter, compared to the consensus estimate of $32.95 million. Universal Display Corporation had a net margin of 21.61% and a return on equity of 8.37%. Universal Display Corporation’s revenue was down 23.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 earnings per share. Equities research analysts expect that Universal Display Corporation will post $0.89 EPS for the current fiscal year.
In related news, VP Janice K. Mahon sold 10,584 shares of the firm’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $60.05, for a total transaction of $635,569.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.70% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in OLED. NN Investment Partners Holdings N.V. raised its stake in Universal Display Corporation by 8.2% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 709,590 shares of the company’s stock worth $39,950,000 after buying an additional 53,548 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Universal Display Corporation by 69.1% in the third quarter. Price T Rowe Associates Inc. MD now owns 22,714 shares of the company’s stock worth $1,261,000 after buying an additional 9,285 shares during the last quarter. Cornerstone Capital Management Holdings LLC. purchased a new stake in Universal Display Corporation during the third quarter worth $798,000. Credit Suisse AG raised its stake in Universal Display Corporation by 16.1% in the third quarter. Credit Suisse AG now owns 48,997 shares of the company’s stock worth $2,719,000 after buying an additional 6,784 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new stake in Universal Display Corporation during the third quarter worth $416,000. 66.90% of the stock is owned by institutional investors and hedge funds.
Universal Display Corporation 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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