Universal Display (OLED) Stock Rating Upgraded by Zacks Investment Research

Universal Display (NASDAQ:OLED) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The firm currently has a $228.00 price target on the semiconductor company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 10.89% 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 research firms have also weighed in on OLED. Gabelli lowered shares of Universal Display from a “buy” rating to a “hold” rating and set a $134.00 price objective on the stock. in a research note on Friday, November 3rd. Deutsche Bank boosted their price objective on shares of Universal Display to $190.00 and gave the stock a “buy” rating in a research note on Friday, December 8th. BidaskClub lowered shares of Universal Display from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. Susquehanna Bancshares boosted their price objective on shares of Universal Display from $195.00 to $215.00 and gave the stock a “positive” rating in a research note on Friday, January 5th. Finally, Cross Research lowered shares of Universal Display from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $164.80.

Universal Display (NASDAQ:OLED) opened at $205.60 on Friday. The firm has a market cap of $9,670.00, a PE ratio of 98.37 and a beta of 1.07. Universal Display has a 52 week low of $56.65 and a 52 week high of $208.20.

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

In other Universal Display news, insider Steven V. Abramson sold 18,744 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $158.40, for a total value of $2,969,049.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Julia J. Brown sold 10,000 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the insider now directly owns 152,932 shares of the company’s stock, valued at approximately $22,939,800. The disclosure for this sale can be found here. Insiders have sold a total of 196,734 shares of company stock valued at $33,349,769 in the last ninety days. 5.20% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Columbus Circle Investors boosted its holdings in Universal Display 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 period. Neuberger Berman Group LLC boosted its holdings in Universal Display 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 period. TD Asset Management Inc. boosted its holdings in Universal Display 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 period. Newbrook Capital Advisors LP boosted its holdings in Universal Display 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 period. Finally, Bank of New York Mellon Corp boosted its holdings in Universal Display by 7.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 383,915 shares of the semiconductor company’s stock valued at $49,468,000 after purchasing an additional 25,479 shares during the period. 64.87% of the stock is owned by hedge funds and other institutional investors.

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About Universal Display

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.

Analyst Recommendations for Universal Display (NASDAQ:OLED)

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