Universal Display Corporation (OLED) Stock Rating Lowered by Cross Research
Universal Display Corporation (NASDAQ:OLED) was downgraded by stock analysts at Cross Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
A number of other analysts also recently commented on OLED. Cowen and Company set a $140.00 price objective on Universal Display Corporation and gave the stock a “buy” rating in a report on Friday, August 4th. Zacks Investment Research upgraded Universal Display Corporation from a “hold” rating to a “strong-buy” rating and set a $136.00 price objective for the company in a report on Thursday, August 10th. Deutsche Bank AG initiated coverage on shares of Universal Display Corporation in a research report on Wednesday, August 30th. They set a “buy” rating and a $135.00 price target for the company. Susquehanna Bancshares Inc reaffirmed a “positive” rating on shares of Universal Display Corporation in a research report on Thursday, July 13th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $161.00 price target (up from $150.00) on shares of Universal Display Corporation in a research report on Monday, September 18th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Universal Display Corporation presently has an average rating of “Hold” and an average price target of $122.78.
Universal Display Corporation (NASDAQ OLED) traded up 5.70% during midday trading on Tuesday, reaching $146.50. The company’s stock had a trading volume of 1,718,003 shares. The stock has a market capitalization of $6.89 billion, a PE ratio of 84.93 and a beta of 1.04. Universal Display Corporation has a 52 week low of $50.55 and a 52 week high of $149.85. The firm’s 50-day moving average price is $132.54 and its 200-day moving average price is $118.03.
Universal Display Corporation (NASDAQ:OLED) last issued its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.31. The company had revenue of $102.50 million during the quarter, compared to the consensus estimate of $84.81 million. Universal Display Corporation had a return on equity of 14.90% and a net margin of 31.15%. Universal Display Corporation’s revenue was up 59.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.46 EPS. On average, analysts anticipate that Universal Display Corporation will post $2.14 earnings per share for the current year.
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In other Universal Display Corporation news, CFO Sidney D. Rosenblatt sold 50,240 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $135.02, for a total value of $6,783,404.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.20% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Mitra Capital LLC acquired a new stake in Universal Display Corporation during the second quarter worth about $109,000. IFP Advisors Inc raised its stake in Universal Display Corporation by 307.5% during the second quarter. IFP Advisors Inc now owns 1,080 shares of the semiconductor company’s stock worth $118,000 after acquiring an additional 815 shares during the period. BNP Paribas Arbitrage SA raised its stake in Universal Display Corporation by 79.4% during the second quarter. BNP Paribas Arbitrage SA now owns 1,536 shares of the semiconductor company’s stock worth $168,000 after acquiring an additional 680 shares during the period. Oliver Luxxe Assets LLC acquired a new stake in Universal Display Corporation during the third quarter worth about $222,000. Finally, Daiwa Securities Group Inc. acquired a new stake in Universal Display Corporation during the second quarter worth about $197,000. 64.69% of the stock is currently owned by institutional investors and hedge funds.
About Universal Display Corporation
Universal Display Corporation is engaged in the research, development and commercialization of organic light emitting diode (OLED), technologies and materials for use in display and solid-state lighting applications. The Company also supplies its OLED materials to manufacturers of OLED displays and lighting products for evaluation and for use in product development and for pre-commercial activities, and it also provides technical assistance and support to these manufacturers.
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