Universal Display (OLED) Shares Gap Up to $123.01

Universal Display Co. (NASDAQ:OLED)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $134.49, but opened at $123.01. Universal Display shares last traded at $126.71, with a volume of 37933 shares traded.

A number of equities analysts have weighed in on the company. ValuEngine raised Universal Display from a “hold” rating to a “buy” rating in a research note on Thursday. Needham & Company LLC reissued a “buy” rating and set a $125.00 price objective on shares of Universal Display in a research note on Friday. Gabelli lowered Universal Display from a “buy” rating to a “hold” rating in a research note on Friday. BidaskClub raised Universal Display from a “hold” rating to a “buy” rating in a research note on Thursday, October 4th. Finally, Cowen set a $175.00 price objective on Universal Display and gave the stock an “outperform” rating in a research note on Thursday, October 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $165.00.

The company has a market cap of $5.79 billion, a P/E ratio of 78.35 and a beta of 1.63.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Thursday, November 1st. The semiconductor company reported $0.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.18). Universal Display had a net margin of 22.76% and a return on equity of 11.59%. The business had revenue of $77.55 million during the quarter, compared to analyst estimates of $92.21 million. During the same period last year, the company earned $0.28 EPS. The business’s revenue for the quarter was up 25.7% on a year-over-year basis. Sell-side analysts expect that Universal Display Co. will post 1.83 EPS for the current year.

In other news, 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 transaction, the director now owns 348,950 shares of the company’s stock, valued at approximately $41,703,014.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Mauro Premutico sold 10,044 shares of the company’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $123.63, for a total value of $1,241,739.72. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. US Bancorp DE raised its holdings in shares of Universal Display by 37.1% in the 3rd quarter. US Bancorp DE now owns 1,714 shares of the semiconductor company’s stock valued at $202,000 after buying an additional 464 shares during the period. HL Financial Services LLC raised its holdings in shares of Universal Display by 6.2% in the 3rd quarter. HL Financial Services LLC now owns 9,246 shares of the semiconductor company’s stock valued at $1,090,000 after buying an additional 541 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Universal Display by 13.9% in the 2nd 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. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Universal Display by 46.5% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,866 shares of the semiconductor company’s stock valued at $160,000 after buying an additional 592 shares during the period. Finally, Alps Advisors Inc. raised its holdings in shares of Universal Display by 13.8% in the 2nd quarter. Alps Advisors Inc. now owns 4,915 shares of the semiconductor company’s stock valued at $423,000 after buying 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 (NASDAQ:OLED)

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.

Further Reading: Institutional Investors

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