Universal Display Corporation (OLED) Downgraded by Gabelli

Gabelli downgraded shares of Universal Display Corporation (NASDAQ:OLED) from a buy rating to a hold rating in a research note published on Friday morning, Marketbeat.com reports. Gabelli currently has $134.00 target price on the semiconductor company’s stock. Gabelli also issued estimates for Universal Display Corporation’s FY2017 earnings at $2.32 EPS.

Other analysts have also issued reports about the company. Goldman Sachs Group, Inc. (The) reiterated a buy rating and issued a $150.00 price objective (up from $140.00) on shares of Universal Display Corporation in a research report on Wednesday, August 9th. Cowen and Company set a $140.00 price objective on Universal Display Corporation and gave the stock a buy rating in a research report on Friday, August 4th. Deutsche Bank AG began coverage on Universal Display Corporation in a research report on Wednesday, August 30th. They set a buy rating and a $135.00 target price for the company. BidaskClub upgraded Universal Display Corporation from a sell rating to a hold rating in a research report on Friday, August 25th. Finally, Summit Redstone restated a hold rating and set a $95.00 target price on shares of Universal Display Corporation in a research report on Tuesday, August 1st. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and an average target price of $134.78.

Shares of Universal Display Corporation (NASDAQ OLED) traded up $4.90 during mid-day trading on Friday, reaching $163.00. The company had a trading volume of 917,107 shares, compared to its average volume of 858,137. The firm has a market capitalization of $7,437.12, a price-to-earnings ratio of 77.50 and a beta of 1.03. Universal Display Corporation has a 1 year low of $50.55 and a 1 year high of $160.95.

Universal Display Corporation (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.19. The firm had revenue of $61.70 million during the quarter, compared to analyst estimates of $47.35 million. Universal Display Corporation had a return on equity of 16.67% and a net margin of 32.92%. The company’s revenue was up 104.3% on a year-over-year basis. During the same period last year, the company earned ($0.03) earnings per share. sell-side analysts anticipate that Universal Display Corporation will post 2.27 earnings per share for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.07%. The ex-dividend date of this dividend is Thursday, December 14th. Universal Display Corporation’s dividend payout ratio (DPR) is presently 5.88%.

In other news, CFO Sidney D. Rosenblatt sold 50,240 shares of Universal Display Corporation stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $135.02, for a total transaction of $6,783,404.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 5.20% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Universal Display Corporation by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 3,403,157 shares of the semiconductor company’s stock valued at $293,012,000 after purchasing an additional 141,268 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Universal Display Corporation by 82,293.2% during the 1st quarter. BlackRock Inc. now owns 2,817,024 shares of the semiconductor company’s stock valued at $242,545,000 after purchasing an additional 2,813,605 shares in the last quarter. State Street Corp lifted its holdings in shares of Universal Display Corporation by 3.1% during the 1st quarter. State Street Corp now owns 788,727 shares of the semiconductor company’s stock valued at $67,909,000 after purchasing an additional 23,770 shares in the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of Universal Display Corporation by 18.2% during the 2nd quarter. Neuberger Berman Group LLC now owns 606,472 shares of the semiconductor company’s stock valued at $66,257,000 after purchasing an additional 93,223 shares in the last quarter. Finally, Newbrook Capital Advisors LP lifted its holdings in shares of Universal Display Corporation by 49.4% during the 2nd quarter. Newbrook Capital Advisors LP now owns 558,174 shares of the semiconductor company’s stock valued at $60,981,000 after purchasing an additional 184,683 shares in the last quarter. Institutional investors and hedge funds own 63.97% of the company’s stock.

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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