Universal Display (OLED) Rating Increased to Buy at Zacks Investment Research

Universal Display (NASDAQ:OLED) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The brokerage presently has a $195.00 price objective on the semiconductor company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 8.09% from the stock’s current price.

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. “

Several other equities analysts have also recently issued reports on the company. Deutsche Bank boosted their target price on Universal Display to $190.00 and gave the company a “buy” rating in a research note on Friday, December 8th. BidaskClub cut Universal Display from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. Evercore ISI began coverage on Universal Display in a research note on Thursday, November 30th. They set an “outperform” rating and a $225.00 target price on the stock. Cowen reissued an “outperform” rating and set a $195.00 target price (up from $155.00) on shares of Universal Display in a research note on Friday, November 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Universal Display in a research note on Friday, November 3rd. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Universal Display has a consensus rating of “Hold” and an average target price of $155.00.

Universal Display (OLED) opened at $180.40 on Thursday. Universal Display has a 12 month low of $56.15 and a 12 month high of $192.75. The stock has a market capitalization of $8,490.00, a P/E ratio of 86.32 and a beta of 1.07.

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

In other Universal Display news, Director Rosemarie B. Greco sold 1,250 shares of the business’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $168.63, for a total value of $210,787.50. Following the sale, the director now directly owns 12,800 shares of the company’s stock, valued at $2,158,464. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven V. Abramson sold 18,744 shares of the business’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $158.40, for a total value of $2,969,049.60. The disclosure for this sale can be found here. Insiders have sold 146,734 shares of company stock worth $23,349,769 over the last 90 days. 5.20% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Mitra Capital LLC bought a new stake in Universal Display in the second quarter worth $109,000. BNP Paribas Arbitrage SA boosted its holdings in Universal Display by 79.4% in 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 in the last quarter. CIBC Asset Management Inc bought a new stake in Universal Display in the third quarter worth $205,000. Comerica Bank bought a new stake in Universal Display in the third quarter worth $221,000. Finally, Ballentine Partners LLC bought a new stake in Universal Display in the third quarter worth $209,000. 64.87% of the stock is currently owned by institutional investors and hedge funds.

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Universal Display 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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