Universal Display (NASDAQ:OLED) was upgraded by investment analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a note issued to investors on Friday. The brokerage currently has a $120.00 price target on the semiconductor company’s stock. Oppenheimer’s price target would suggest a potential upside of 22.08% from the stock’s previous close. Oppenheimer also issued estimates for Universal Display’s Q4 2018 earnings at $1.15 EPS.
Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Universal Display from a “hold” rating to a “buy” rating and set a $195.00 target price for the company in a research report on Thursday, January 4th. Deutsche Bank increased their target price on shares of Universal Display to $190.00 and gave the company a “buy” rating in a research report on Friday, December 8th. Cowen set a $225.00 target price on shares of Universal Display and gave the company a “buy” rating in a research report on Tuesday, February 20th. Needham & Company LLC raised shares of Universal Display from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research report on Tuesday, February 20th. They noted that the move was a valuation call. Finally, Gabelli raised shares of Universal Display from a “hold” rating to a “buy” rating in a research report on Tuesday, March 20th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $165.58.
NASDAQ:OLED opened at $98.30 on Friday. Universal Display has a 52 week low of $80.80 and a 52 week high of $209.00. The company has a market cap of $4,625.11, a P/E ratio of 40.45 and a beta of 1.31.
Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, February 22nd. The semiconductor company reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.11. Universal Display had a net margin of 30.95% and a return on equity of 18.80%. The company had revenue of $115.87 million during the quarter, compared to analysts’ expectations of $99.55 million. During the same quarter in the prior year, the company posted $0.55 earnings per share. Universal Display’s revenue for the quarter was up 55.3% compared to the same quarter last year. equities analysts forecast that Universal Display will post 2.66 EPS for the current fiscal year.
In other Universal Display news, Director Elizabeth H. Gemmill sold 2,500 shares of the firm’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $124.07, for a total value of $310,175.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Sherwin I. Seligsohn sold 50,000 shares of the firm’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $200.00, for a total transaction of $10,000,000.00. Following the completion of the transaction, 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. In the last ninety days, insiders sold 54,750 shares of company stock valued at $10,601,775. Corporate insiders own 5.20% of the company’s stock.
Several large investors have recently added to or reduced their stakes in OLED. First Trust Advisors LP increased its stake 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 worth $57,914,000 after acquiring an additional 165,082 shares during the period. Honeycomb Asset Management LP acquired a new stake in shares of Universal Display in the fourth quarter worth $24,171,000. UBS Asset Management Americas Inc. increased its stake in shares of Universal Display by 48.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 396,713 shares of the semiconductor company’s stock worth $68,492,000 after acquiring an additional 128,667 shares during the period. Neuberger Berman Group LLC increased its stake in shares of Universal Display by 17.8% in the third quarter. Neuberger Berman Group LLC now owns 714,223 shares of the semiconductor company’s stock worth $92,028,000 after acquiring an additional 107,751 shares during the period. Finally, Two Sigma Advisers LP increased its stake in shares of Universal Display by 59.1% in the fourth quarter. Two Sigma Advisers LP now owns 266,898 shares of the semiconductor company’s stock worth $46,080,000 after acquiring an additional 99,100 shares during the period. Hedge funds and other institutional investors own 63.09% of the company’s stock.
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Universal Display Company Profile
Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in flat panel displays and solid-state lighting applications. As of February 22, 2018, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 4,500 issued and pending patents worldwide.
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