Universal Display (NASDAQ:OLED) received a $225.00 target price from stock analysts at Cowen in a note issued to investors on Tuesday. The firm presently has a “buy” rating on the semiconductor company’s stock. Cowen’s price objective indicates a potential upside of 45.21% from the stock’s current price.
A number of other brokerages have also recently commented on OLED. Zacks Investment Research upgraded shares of Universal Display from a “hold” rating to a “strong-buy” rating and set a $168.00 target price for the company in a research report on Thursday, November 2nd. Susquehanna Bancshares increased their target price on shares of Universal Display from $195.00 to $215.00 and gave the company a “positive” rating in a research report on Friday, January 5th. Gabelli cut shares of Universal Display from a “buy” rating to a “hold” rating and set a $134.00 target price for the company. in a research report on Friday, November 3rd. BidaskClub cut shares of Universal Display from a “hold” rating to a “sell” rating in a research report on Friday, January 26th. Finally, Deutsche Bank reiterated a “buy” rating and issued a $190.00 target price on shares of Universal Display in a research report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $168.91.
Universal Display (NASDAQ:OLED) traded down $7.05 during trading hours on Tuesday, reaching $154.95. 1,525,900 shares of the company’s stock were exchanged, compared to its average volume of 1,599,688. The firm has a market capitalization of $7,288.94, a PE ratio of 75.96 and a beta of 0.90. Universal Display has a 52 week low of $66.65 and a 52 week high of $209.00.
In related news, Chairman Sherwin I. Seligsohn sold 50,000 shares of the company’s stock in a transaction dated 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 owns 143,119 shares of the company’s stock, valued at $28,623,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.20% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in OLED. First Trust Advisors LP grew its holdings in shares of Universal Display by 96.9% in the fourth quarter. First Trust Advisors LP now owns 335,440 shares of the semiconductor company’s stock valued at $57,914,000 after purchasing an additional 165,082 shares during the period. Columbus Circle Investors boosted its stake in Universal Display by 24.1% during the third quarter. Columbus Circle Investors now owns 843,537 shares of the semiconductor company’s stock worth $108,690,000 after buying an additional 163,569 shares during the period. Honeycomb Asset Management LP purchased a new position in Universal Display during the fourth quarter worth about $24,171,000. UBS Asset Management Americas Inc. boosted its stake in Universal Display by 48.0% during the fourth quarter. UBS Asset Management Americas Inc. now owns 396,713 shares of the semiconductor company’s stock worth $68,492,000 after buying an additional 128,667 shares during the period. Finally, Neuberger Berman Group LLC boosted its stake in Universal Display by 17.8% during the third quarter. Neuberger Berman Group LLC now owns 714,223 shares of the semiconductor company’s stock worth $92,028,000 after buying an additional 107,751 shares during the period. 66.36% 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.
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