Universal Display (NASDAQ:OLED)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a report released on Friday. They currently have a $125.00 target price on the semiconductor company’s stock. Needham & Company LLC’s price objective points to a potential upside of 32.64% from the stock’s previous close.
A number of other equities analysts have also recently issued reports on OLED. CIBC boosted their price objective on shares of Universal Display from $120.00 to $140.00 and gave the company an “outperform” rating in a research report on Tuesday, September 25th. ValuEngine upgraded shares of Universal Display from a “hold” rating to a “buy” rating in a research report on Thursday. BidaskClub upgraded shares of Universal Display from a “hold” rating to a “buy” rating in a research report on Thursday, August 30th. Zacks Investment Research cut shares of Universal Display from a “hold” rating to a “sell” rating in a research report on Tuesday, October 16th. Finally, Cowen set a $175.00 price objective on shares of Universal Display and gave the company an “outperform” rating in a research report on Thursday, October 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $165.92.
Universal Display stock opened at $94.24 on Friday. The firm has a market capitalization of $5.09 billion, a price-to-earnings ratio of 38.78 and a beta of 1.81. Universal Display has a twelve month low of $78.75 and a twelve month high of $209.00.
Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, November 1st. The semiconductor company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.18). The business had revenue of $77.55 million during the quarter, compared to the consensus estimate of $92.21 million. Universal Display had a return on equity of 11.59% and a net margin of 22.76%. The business’s revenue for the quarter was up 25.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 earnings per share. On average, equities analysts anticipate that Universal Display will post 1.83 EPS for the current fiscal year.
In other Universal Display news, VP Mauro Premutico sold 10,044 shares of the business’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $123.63, for a total value of $1,241,739.72. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Lawrence Lacerte sold 15,000 shares of the business’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $119.51, for a total transaction of $1,792,650.00. Following the completion of the transaction, the director now owns 348,950 shares in the company, valued at approximately $41,703,014.50. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Zweig DiMenna Associates LLC increased its position in shares of Universal Display by 125.0% during the third quarter. Zweig DiMenna Associates LLC now owns 66,873 shares of the semiconductor company’s stock valued at $7,884,000 after buying an additional 37,158 shares during the period. Essex Investment Management Co. LLC purchased a new position in shares of Universal Display during the second quarter valued at about $319,000. PNC Financial Services Group Inc. increased its position in shares of Universal Display by 13.9% during the second quarter. PNC Financial Services Group Inc. now owns 4,432 shares of the semiconductor company’s stock valued at $381,000 after buying an additional 542 shares during the period. Intl Fcstone Inc. purchased a new position in shares of Universal Display during the second quarter valued at about $309,000. Finally, grace capital purchased a new position in shares of Universal Display during the second quarter valued at about $430,000. Institutional investors own 73.77% of the company’s stock.
About Universal Display
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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