Universal Display (OLED) Lifted 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 report released on Friday. The firm currently has a $228.00 price objective on the semiconductor company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 11.96% from the company’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 brokerages have also recently issued reports on OLED. Evercore ISI assumed coverage on Universal Display in a report on Thursday, November 30th. They set an “outperform” rating and a $225.00 price objective for the company. Susquehanna Bancshares lifted their price objective on Universal Display from $195.00 to $215.00 and gave the stock a “positive” rating in a report on Friday, January 5th. Cowen reaffirmed an “outperform” rating and set a $195.00 price objective (up from $155.00) on shares of Universal Display in a report on Friday, November 10th. Deutsche Bank lifted their price objective on Universal Display to $190.00 and gave the stock a “buy” rating in a report on Friday, December 8th. Finally, BidaskClub cut Universal Display from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $164.80.

Shares of Universal Display (NASDAQ OLED) traded down $1.95 during mid-day trading on Friday, reaching $203.65. The company had a trading volume of 796,471 shares, compared to its average volume of 844,068. The firm has a market capitalization of $9,490.00, a PE ratio of 97.44 and a beta of 1.07. Universal Display has a 52-week low of $56.85 and a 52-week high of $209.00.

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

In other news, CFO Sidney D. Rosenblatt sold 50,240 shares of Universal Display stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $167.80, for a total value of $8,430,272.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Sherwin I. Seligsohn sold 50,000 shares of Universal Display stock in a transaction on Friday, January 12th. The shares were sold at an average price of $200.00, for a total value of $10,000,000.00. Following the completion of the sale, the chairman now directly owns 143,119 shares of the company’s stock, valued at approximately $28,623,800. The disclosure for this sale can be found here. Insiders have sold 196,734 shares of company stock valued at $33,349,769 in the last three months. 5.20% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new stake in shares of Universal Display in the fourth quarter valued at $535,000. Fox Run Management L.L.C. purchased a new stake in shares of Universal Display in the fourth quarter valued at $355,000. Schwab Charles Investment Management Inc. grew its position in shares of Universal Display by 7.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 185,690 shares of the semiconductor company’s stock valued at $32,060,000 after purchasing an additional 12,816 shares during the period. Bank of Montreal Can grew its position in shares of Universal Display by 281.4% in the fourth quarter. Bank of Montreal Can now owns 8,219 shares of the semiconductor company’s stock valued at $1,420,000 after purchasing an additional 6,064 shares during the period. Finally, Sheets Smith Wealth Management purchased a new stake in shares of Universal Display in the fourth quarter valued at $330,000. 64.87% of the stock is 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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