Universal Display Co. (NASDAQ:OLED) was up 4.1% during trading on Wednesday . The stock traded as high as $156.75 and last traded at $149.05. Approximately 805,129 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 1,546,749 shares. The stock had previously closed at $155.45.
OLED has been the subject of several research analyst reports. Cowen set a $140.00 target price on Universal Display and gave the stock a “buy” rating in a research note on Wednesday, October 11th. Zacks Investment Research downgraded Universal Display from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Cross Research downgraded Universal Display from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Deutsche Bank reaffirmed a “buy” rating and set a $190.00 target price on shares of Universal Display in a research note on Thursday, January 25th. Finally, Evercore ISI initiated coverage on Universal Display in a research note on Thursday, November 30th. They set an “outperform” rating and a $225.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $164.80.
The company has a market cap of $7,060.00, a P/E ratio of 71.79 and a beta of 0.90.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. US Bancorp DE raised its stake in Universal Display by 4,188.2% in the 4th quarter. US Bancorp DE now owns 729 shares of the semiconductor company’s stock valued at $126,000 after purchasing an additional 712 shares during the last quarter. Cerebellum GP LLC acquired a new position in Universal Display in the 4th quarter valued at $129,000. Glassman Wealth Services raised its stake in Universal Display by 60.7% in the 4th quarter. Glassman Wealth Services now owns 961 shares of the semiconductor company’s stock valued at $166,000 after purchasing an additional 363 shares during the last quarter. Aries Wealth Management acquired a new position in Universal Display in the 4th quarter valued at $204,000. Finally, CIBC Asset Management Inc acquired a new position in Universal Display in the 3rd quarter valued at $205,000. 64.50% of the stock is owned by hedge funds and other institutional investors.
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About Universal Display
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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