Universal Display (NASDAQ:OLED) Rating Increased to Hold at Wall Street Zen

Universal Display (NASDAQ:OLED) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Friday.

A number of other equities analysts have also recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $150.00 target price on shares of Universal Display in a research report on Monday, December 22nd. Zacks Research downgraded Universal Display from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Universal Display in a research report on Wednesday, December 24th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $177.60.

Universal Display Price Performance

OLED stock opened at $120.10 on Friday. The firm has a 50 day simple moving average of $118.91 and a two-hundred day simple moving average of $134.75. The stock has a market cap of $5.71 billion, a PE ratio of 25.88, a P/E/G ratio of 3.34 and a beta of 1.62. Universal Display has a one year low of $103.70 and a one year high of $164.29.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, November 6th. The semiconductor company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.27). The firm had revenue of $139.61 million for the quarter, compared to analysts’ expectations of $165.56 million. Universal Display had a net margin of 34.65% and a return on equity of 14.10%. The business’s quarterly revenue was down 13.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.40 earnings per share. On average, research analysts expect that Universal Display will post 4.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Universal Display

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Focus Partners Wealth boosted its stake in Universal Display by 6.4% during the 1st quarter. Focus Partners Wealth now owns 3,680 shares of the semiconductor company’s stock valued at $513,000 after purchasing an additional 221 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Universal Display by 79.2% during the second quarter. Farther Finance Advisors LLC now owns 276 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 122 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Universal Display by 87.2% during the second quarter. GAMMA Investing LLC now owns 1,801 shares of the semiconductor company’s stock valued at $278,000 after buying an additional 839 shares during the last quarter. Norden Group LLC bought a new stake in Universal Display in the 2nd quarter worth about $207,000. Finally, HB Wealth Management LLC bought a new stake in Universal Display in the 2nd quarter worth about $236,000. Institutional investors own 78.19% of the company’s stock.

Universal Display Company Profile

Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.