Universal Display Corporation (OLED) Stock Rating Reaffirmed by Needham & Company LLC
Universal Display Corporation (NASDAQ:OLED)‘s stock had its “hold” rating reissued by equities research analysts at Needham & Company LLC in a report issued on Friday.
OLED has been the topic of a number of other reports. BidaskClub cut Universal Display Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Oppenheimer Holdings, Inc. reissued a “market perform” rating on shares of Universal Display Corporation in a report on Wednesday, August 9th. Cowen and Company set a $140.00 price target on Universal Display Corporation and gave the company a “buy” rating in a report on Wednesday, October 11th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $150.00 price target (up from $140.00) on shares of Universal Display Corporation in a report on Wednesday, August 9th. Finally, Susquehanna Bancshares Inc reissued a “positive” rating and set a $150.00 price target on shares of Universal Display Corporation in a report on Tuesday, September 5th. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $134.78.
Universal Display Corporation (NASDAQ OLED) traded up $15.40 during trading hours on Friday, reaching $158.10. The company’s stock had a trading volume of 3,415,847 shares, compared to its average volume of 710,422. The firm has a market capitalization of $6.79 billion, a P/E ratio of 70.76 and a beta of 1.03.
Universal Display Corporation (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.19. The business had revenue of $61.70 million for the quarter, compared to analysts’ expectations of $47.35 million. Universal Display Corporation had a return on equity of 17.08% and a net margin of 32.92%. The business’s quarterly revenue was up 104.3% on a year-over-year basis. During the same period last year, the firm earned ($0.03) earnings per share. equities research analysts predict that Universal Display Corporation will post 2.09 EPS for the current year.
In related news, CFO Sidney D. Rosenblatt sold 50,240 shares of Universal Display Corporation stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $135.02, for a total value of $6,783,404.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.20% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in OLED. Prudential Financial Inc. grew its position in Universal Display Corporation by 2.9% in the first quarter. Prudential Financial Inc. now owns 4,616 shares of the semiconductor company’s stock worth $397,000 after acquiring an additional 130 shares in the last quarter. Principal Financial Group Inc. grew its position in Universal Display Corporation by 48.8% in the first quarter. Principal Financial Group Inc. now owns 8,709 shares of the semiconductor company’s stock worth $750,000 after acquiring an additional 2,856 shares in the last quarter. Wellington Management Group LLP purchased a new position in Universal Display Corporation in the first quarter worth about $4,133,000. FMR LLC grew its position in Universal Display Corporation by 193.6% in the first quarter. FMR LLC now owns 325,005 shares of the semiconductor company’s stock worth $27,983,000 after acquiring an additional 214,324 shares in the last quarter. Finally, Legal & General Group Plc grew its position in Universal Display Corporation by 5.9% in the first quarter. Legal & General Group Plc now owns 14,415 shares of the semiconductor company’s stock worth $1,240,000 after acquiring an additional 806 shares in the last quarter. Institutional investors own 64.69% of the company’s stock.
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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