Universal Display (OLED) Cut to “Hold” at Gabelli

Gabelli cut shares of Universal Display (NASDAQ:OLED) from a buy rating to a hold rating in a report released on Friday, Marketbeat reports.

A number of other analysts have also issued reports on the company. ValuEngine raised Universal Display from a hold rating to a buy rating in a research report on Thursday. BidaskClub raised Universal Display from a hold rating to a buy rating in a research report on Wednesday, October 17th. Zacks Investment Research lowered Universal Display from a hold rating to a sell rating in a research report on Tuesday, October 16th. Cowen set a $175.00 target price on Universal Display and gave the company an outperform rating in a research report on Thursday, October 4th. Finally, CIBC boosted their target price on Universal Display from $120.00 to $140.00 and gave the company an outperform rating in a research report on Tuesday, September 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $165.00.

OLED traded down $26.59 during trading hours on Friday, reaching $103.06. The company’s stock had a trading volume of 7,578,735 shares, compared to its average volume of 949,871. Universal Display has a fifty-two week low of $78.75 and a fifty-two week high of $209.00. The stock has a market capitalization of $4.85 billion, a PE ratio of 58.23 and a beta of 1.64.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Thursday, November 1st. The semiconductor company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.18). Universal Display had a net margin of 24.70% and a return on equity of 12.90%. The business had revenue of $77.55 million during the quarter, compared to analyst estimates of $92.21 million. During the same quarter in the prior year, the company posted $0.28 earnings per share. The company’s revenue was up 25.7% on a year-over-year basis. As a group, equities analysts predict that Universal Display will post 1.83 earnings per share for the current year.

In other news, VP Mauro Premutico sold 10,044 shares of the company’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $123.63, for a total transaction of $1,241,739.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Lawrence Lacerte sold 15,000 shares of the company’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $119.51, for a total value of $1,792,650.00. Following the sale, the director now directly 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 owned by insiders.

Several institutional investors have recently bought and sold shares of the company. US Bancorp DE increased its position in shares of Universal Display by 37.1% during the third quarter. US Bancorp DE now owns 1,714 shares of the semiconductor company’s stock worth $202,000 after acquiring an additional 464 shares during the period. HL Financial Services LLC increased its position in shares of Universal Display by 6.2% during the third quarter. HL Financial Services LLC now owns 9,246 shares of the semiconductor company’s stock worth $1,090,000 after acquiring an additional 541 shares during the period. 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 worth $381,000 after acquiring an additional 542 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in shares of Universal Display by 46.5% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,866 shares of the semiconductor company’s stock worth $160,000 after acquiring an additional 592 shares during the period. Finally, Alps Advisors Inc. increased its position in shares of Universal Display by 13.8% during the second quarter. Alps Advisors Inc. now owns 4,915 shares of the semiconductor company’s stock worth $423,000 after acquiring an additional 596 shares during the period. 73.77% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Universal Display (NASDAQ:OLED)

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