Needham & Company LLC upgraded shares of Universal Display (NASDAQ:OLED) from a hold rating to a buy rating in a report published on Tuesday, MarketBeat.com reports. Needham & Company LLC currently has $180.00 price target on the semiconductor company’s stock. The analysts noted that the move was a valuation call.
Other equities research analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Universal Display from a buy rating to a hold rating in a research report on Wednesday, December 6th. Susquehanna Bancshares lifted their price target on shares of Universal Display from $195.00 to $215.00 and gave the stock a positive rating in a research note on Friday, January 5th. Deutsche Bank lifted their price target on shares of Universal Display to $150.00 and gave the stock a buy rating in a research note on Tuesday, October 31st. Cowen reiterated an outperform rating and set a $195.00 price target (up previously from $155.00) on shares of Universal Display in a research note on Friday, November 10th. Finally, Gabelli cut shares of Universal Display from a buy rating to a hold rating and set a $134.00 price target on the stock. in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. Universal Display presently has a consensus rating of Hold and a consensus price target of $168.91.
Shares of Universal Display (NASDAQ:OLED) opened at $154.90 on Tuesday. The firm has a market cap of $7,319.52, a P/E ratio of 75.93 and a beta of 0.90. Universal Display has a 1 year low of $66.65 and a 1 year high of $209.00.
In other news, Chairman Sherwin I. Seligsohn sold 50,000 shares of Universal Display stock in a transaction on Friday, January 12th. The shares were sold at an average price of $200.00, for a total transaction of $10,000,000.00. Following the transaction, the chairman now owns 143,119 shares in the company, valued at approximately $28,623,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 5.20% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in OLED. Dimensional Fund Advisors LP lifted its stake in shares of Universal Display by 11.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 206,053 shares of the semiconductor company’s stock valued at $22,513,000 after buying an additional 21,036 shares in the last quarter. Stifel Financial Corp lifted its stake in shares of Universal Display by 2.6% during the 2nd quarter. Stifel Financial Corp now owns 3,362 shares of the semiconductor company’s stock valued at $370,000 after buying an additional 86 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Universal Display during the 2nd quarter valued at $2,029,000. Whittier Trust Co. purchased a new position in shares of Universal Display during the 3rd quarter valued at $1,208,000. Finally, Nationwide Fund Advisors lifted its stake in shares of Universal Display by 1.8% during the 3rd quarter. Nationwide Fund Advisors now owns 129,128 shares of the semiconductor company’s stock valued at $16,638,000 after buying an additional 2,256 shares in the last quarter. Institutional investors own 66.36% of the company’s stock.
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Universal Display 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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