Universal Display Corporation (NASDAQ:OLED)‘s stock had its “buy” rating restated by research analysts at Goldman Sachs Group, Inc. (The) in a note issued to investors on Wednesday, August 9th. They presently have a $150.00 price target on the semiconductor company’s stock, up from their prior price target of $140.00. Goldman Sachs Group, Inc. (The)’s target price points to a potential upside of 36.61% from the stock’s previous close.
A number of other research firms also recently issued reports on OLED. Cowen and Company set a $140.00 target price on shares of Universal Display Corporation and gave the company a “buy” rating in a report on Friday, August 4th. Cross Research upgraded shares of Universal Display Corporation from a “hold” rating to a “buy” rating and set a $115.00 target price for the company in a report on Friday, May 5th. BidaskClub upgraded shares of Universal Display Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, June 9th. Benchmark Co. began coverage on shares of Universal Display Corporation in a report on Tuesday, April 25th. They issued a “hold” rating for the company. They noted that the move was a valuation call. Finally, Canaccord Genuity boosted their price objective on shares of Universal Display Corporation from $65.00 to $90.00 and gave the stock a “hold” rating in a research note on Monday, May 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $118.00.
Shares of Universal Display Corporation (NASDAQ:OLED) traded down 2.10% during trading on Wednesday, hitting $109.80. 745,340 shares of the stock traded hands. The firm has a market cap of $5.16 billion, a PE ratio of 63.65 and a beta of 1.05. Universal Display Corporation has a 52-week low of $47.88 and a 52-week high of $130.65. The company’s 50 day moving average is $116.47 and its 200 day moving average is $99.45.
Universal Display Corporation (NASDAQ:OLED) last released its earnings results on Thursday, August 3rd. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.31. Universal Display Corporation had a net margin of 31.15% and a return on equity of 14.90%. The firm had revenue of $102.50 million during the quarter, compared to the consensus estimate of $84.81 million. During the same period in the previous year, the firm earned $0.46 earnings per share. Universal Display Corporation’s revenue was up 59.2% compared to the same quarter last year. On average, equities research analysts predict that Universal Display Corporation will post $2.14 EPS for the current year.
In other news, CEO Steven V. Abramson sold 18,000 shares of the business’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $124.53, for a total transaction of $2,241,540.00. Following the transaction, the chief executive officer now directly owns 262,888 shares of the company’s stock, valued at $32,737,442.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Julia J. Brown sold 10,000 shares of the business’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $125.00, for a total transaction of $1,250,000.00. Following the transaction, the insider now directly owns 162,932 shares in the company, valued at $20,366,500. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,750 shares of company stock worth $3,919,940. Corporate insiders own 5.70% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd purchased a new position in Universal Display Corporation during the second quarter worth approximately $788,000. Public Employees Retirement System of Ohio purchased a new position in Universal Display Corporation during the second quarter worth approximately $2,029,000. Verition Fund Management LLC purchased a new position in Universal Display Corporation during the second quarter worth approximately $366,000. Wafra Investment Advisory Group Inc. NY purchased a new position in Universal Display Corporation during the second quarter worth approximately $3,510,000. Finally, Raymond James Financial Services Advisors Inc. boosted its position in Universal Display Corporation by 39.1% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 14,894 shares of the semiconductor company’s stock worth $1,627,000 after buying an additional 4,184 shares during the last quarter. 67.49% of the stock is currently owned by institutional investors and hedge funds.
Universal Display Corporation Company Profile
Universal Display Corporation is engaged in the research, development and commercialization of organic light emitting diode (OLED), technologies and materials for use in display and solid-state lighting applications. The Company also supplies its OLED materials to manufacturers of OLED displays and lighting products for evaluation and for use in product development and for pre-commercial activities, and it also provides technical assistance and support to these manufacturers.
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