Universal Display Corporation (NASDAQ:OLED) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Thursday. The firm currently has a $168.00 target price on the semiconductor company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 14.68% from the company’s current price.
According to Zacks, “Universal Display Corporation is located in the Princeton Crossroads Corporate Center in Ewing, New Jersey, minutes away from its research partner at Princeton University. Universal Display’s state-of-the-art facility is designed to further technology and materials development, technology transfer to manufacturing partners and work with customers to develop OLED products that meet their needs. “
Several other analysts also recently commented on OLED. Susquehanna Bancshares Inc restated a “positive” rating on shares of Universal Display Corporation in a report on Thursday, July 13th. Summit Redstone restated a “hold” rating and set a $95.00 target price on shares of Universal Display Corporation in a report on Tuesday, August 1st. Cowen and Company restated an “outperform” rating and set a $130.00 target price on shares of Universal Display Corporation in a report on Tuesday, August 1st. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $150.00 target price (up from $140.00) on shares of Universal Display Corporation in a report on Wednesday, August 9th. Finally, Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of Universal Display Corporation in a report on Wednesday, August 9th. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $127.44.
Universal Display Corporation (NASDAQ:OLED) last announced its earnings results on Thursday, August 3rd. The semiconductor company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.68 by $0.31. The firm had revenue of $102.50 million for the quarter, compared to the consensus estimate of $84.81 million. Universal Display Corporation had a net margin of 31.15% and a return on equity of 14.90%. The business’s quarterly revenue was up 59.2% on a year-over-year basis. During the same period last year, the company posted $0.46 EPS.
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In other news, CFO Sidney D. Rosenblatt sold 50,240 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $135.02, for a total transaction of $6,783,404.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.20% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its stake in shares of Universal Display Corporation by 82,293.2% in the first quarter. BlackRock Inc. now owns 2,817,024 shares of the semiconductor company’s stock valued at $242,545,000 after buying an additional 2,813,605 shares in the last quarter. Schroder Investment Management Group bought a new position in shares of Universal Display Corporation in the second quarter valued at $25,450,000. FMR LLC grew its stake in shares of Universal Display Corporation by 193.6% in the first quarter. FMR LLC now owns 325,005 shares of the semiconductor company’s stock valued at $27,983,000 after buying an additional 214,324 shares in the last quarter. Newbrook Capital Advisors LP grew its stake in shares of Universal Display Corporation by 49.4% in the second quarter. Newbrook Capital Advisors LP now owns 558,174 shares of the semiconductor company’s stock valued at $60,981,000 after buying an additional 184,683 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Universal Display Corporation by 4.3% in the first quarter. Vanguard Group Inc. now owns 3,403,157 shares of the semiconductor company’s stock valued at $293,012,000 after buying an additional 141,268 shares in the last quarter. 64.69% of the stock is owned by institutional investors.
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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