Universal Display Corporation (NASDAQ:OLED) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm presently has a $198.00 target price on the semiconductor company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 9.39% from the company’s previous close.

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. “

A number of other equities research analysts also recently issued reports on OLED. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $150.00 price target (up from $140.00) on shares of Universal Display Corporation in a research note on Wednesday, August 9th. Susquehanna Bancshares Inc reissued a “positive” rating and issued a $150.00 price target (up from $120.00) on shares of Universal Display Corporation in a research note on Wednesday, August 9th. Cowen and Company reissued an “outperform” rating and issued a $195.00 price target (up from $155.00) on shares of Universal Display Corporation in a research note on Friday, November 10th. Oppenheimer Holdings, Inc. reissued a “market perform” rating on shares of Universal Display Corporation in a research note on Wednesday, August 9th. Finally, Summit Redstone reissued a “hold” rating and issued a $95.00 price target on shares of Universal Display Corporation in a research note on Tuesday, August 1st. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $143.11.

Shares of Universal Display Corporation (OLED) traded up $1.75 during mid-day trading on Wednesday, reaching $181.00. 684,361 shares of the company’s stock were exchanged, compared to its average volume of 990,811. Universal Display Corporation has a one year low of $52.10 and a one year high of $182.65. The stock has a market capitalization of $8,514.35, a P/E ratio of 88.72 and a beta of 1.03.

Universal Display Corporation (NASDAQ:OLED) last released its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.19. The business had revenue of $61.70 million for the quarter, compared to the consensus estimate of $47.35 million. Universal Display Corporation had a net margin of 32.92% and a return on equity of 16.67%. The business’s revenue was up 104.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.03) EPS. analysts anticipate that Universal Display Corporation will post 2.33 EPS for the current year.

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In other news, Chairman Sherwin I. Seligsohn sold 50,000 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $150.00, for a total value of $7,500,000.00. Following the completion of the transaction, the chairman now owns 205,170 shares in the company, valued at approximately $30,775,500. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Sidney D. Rosenblatt sold 50,240 shares of the company’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $135.02, for a total transaction of $6,783,404.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 196,974 shares of company stock worth $30,133,174. 5.20% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Columbus Circle Investors raised its position in Universal Display Corporation by 24.1% in the 3rd quarter. Columbus Circle Investors now owns 843,537 shares of the semiconductor company’s stock valued at $108,690,000 after purchasing an additional 163,569 shares during the last quarter. State Street Corp raised its position in Universal Display Corporation by 3.1% in the 1st quarter. State Street Corp now owns 788,727 shares of the semiconductor company’s stock valued at $67,909,000 after purchasing an additional 23,770 shares during the last quarter. Neuberger Berman Group LLC raised its position in Universal Display Corporation by 17.8% in the 3rd quarter. Neuberger Berman Group LLC now owns 714,223 shares of the semiconductor company’s stock valued at $92,028,000 after purchasing an additional 107,751 shares during the last quarter. TD Asset Management Inc. raised its position in Universal Display Corporation by 2.8% in the 3rd quarter. TD Asset Management Inc. now owns 641,094 shares of the semiconductor company’s stock valued at $82,605,000 after purchasing an additional 17,385 shares during the last quarter. Finally, Newbrook Capital Advisors LP raised its position in Universal Display Corporation by 49.4% in the 2nd quarter. Newbrook Capital Advisors LP now owns 558,174 shares of the semiconductor company’s stock valued at $60,981,000 after purchasing an additional 184,683 shares during the last quarter. Hedge funds and other institutional investors own 64.58% of the company’s stock.

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 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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Analyst Recommendations for Universal Display Corporation (NASDAQ:OLED)

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