Universal Display (OLED) Upgraded to “Buy” by BidaskClub

Universal Display (NASDAQ:OLED) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

OLED has been the topic of several other reports. Cowen set a $175.00 target price on shares of Universal Display and gave the stock an “outperform” rating in a report on Thursday, October 4th. Oppenheimer raised their target price on shares of Universal Display from $120.00 to $140.00 and gave the stock an “outperform” rating in a report on Tuesday, September 25th. Citigroup initiated coverage on shares of Universal Display in a report on Tuesday, September 4th. They set a “buy” rating and a $153.00 target price on the stock. ValuEngine raised shares of Universal Display from a “hold” rating to a “buy” rating in a report on Monday, August 13th. Finally, Needham & Company LLC raised their target price on shares of Universal Display from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, August 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Universal Display presently has a consensus rating of “Buy” and a consensus price target of $167.58.

Shares of OLED traded down $1.09 during mid-day trading on Wednesday, hitting $114.48. 13,800 shares of the company’s stock were exchanged, compared to its average volume of 799,150. Universal Display has a 52 week low of $78.75 and a 52 week high of $209.00. The stock has a market capitalization of $5.57 billion, a PE ratio of 47.13 and a beta of 1.81.

Universal Display (NASDAQ:OLED) last announced its earnings results on Thursday, August 9th. The semiconductor company reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.08. Universal Display had a net margin of 22.76% and a return on equity of 11.59%. The company had revenue of $56.15 million for the quarter, compared to analysts’ expectations of $49.64 million. During the same period last year, the firm earned $0.99 earnings per share. The business’s revenue for the quarter was down 45.2% on a year-over-year basis. As a group, sell-side analysts forecast that Universal Display will post 1.83 EPS for the current year.

In related news, Director Lawrence Lacerte sold 15,000 shares of Universal Display stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $119.51, for a total value of $1,792,650.00. Following the transaction, the director now directly owns 348,950 shares of the company’s stock, valued at $41,703,014.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Mauro Premutico sold 10,044 shares of Universal Display stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $123.63, for a total transaction of $1,241,739.72. The disclosure for this sale can be found here. Company insiders own 4.00% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Handelsbanken Fonder AB grew its stake in shares of Universal Display by 188.3% during the third quarter. Handelsbanken Fonder AB now owns 43,127 shares of the semiconductor company’s stock worth $5,085,000 after buying an additional 28,167 shares during the last quarter. Seven Eight Capital LP bought a new stake in shares of Universal Display during the third quarter worth $4,043,000. Aperio Group LLC grew its stake in shares of Universal Display by 14.5% during the third quarter. Aperio Group LLC now owns 11,873 shares of the semiconductor company’s stock worth $1,400,000 after buying an additional 1,502 shares during the last quarter. Rothschild Investment Corp IL bought a new stake in shares of Universal Display during the third quarter worth $262,000. Finally, Coastline Trust Co grew its stake in shares of Universal Display by 33.8% during the third quarter. Coastline Trust Co now owns 5,645 shares of the semiconductor company’s stock worth $665,000 after buying an additional 1,425 shares during the last quarter. 72.59% of the stock is currently owned by hedge funds and other institutional investors.

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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