Universal Display (OLED) Lifted to Buy at BidaskClub

Universal Display (NASDAQ:OLED) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Saturday.

A number of other equities analysts have also commented on OLED. Goldman Sachs Group set a $139.00 price target on Universal Display and gave the stock a “buy” rating in a report on Friday. Gabelli lowered Universal Display from a “buy” rating to a “hold” rating in a report on Friday. Needham & Company LLC reaffirmed a “buy” rating and issued a $125.00 price target on shares of Universal Display in a report on Friday. ValuEngine raised Universal Display from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Oppenheimer raised their price target on Universal Display from $120.00 to $140.00 and gave the stock an “outperform” rating in a report on Tuesday, September 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $167.82.

Universal Display stock opened at $103.06 on Friday. Universal Display has a one year low of $78.75 and a one year high of $209.00. The firm has a market capitalization of $4.85 billion, a PE ratio of 58.23 and a beta of 1.64.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, November 1st. The semiconductor company reported $0.48 EPS for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.18). Universal Display had a return on equity of 12.90% and a net margin of 24.70%. The company had revenue of $77.55 million during the quarter, compared to the consensus estimate of $92.21 million. During the same period in the previous year, the business earned $0.28 earnings per share. Universal Display’s revenue was up 25.7% on a year-over-year basis. On average, research analysts anticipate that Universal Display will post 1.83 EPS for the current fiscal year.

In related news, Director Lawrence Lacerte sold 15,000 shares of Universal Display stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $119.51, for a total transaction of $1,792,650.00. Following the completion of the sale, the director now owns 348,950 shares of the company’s stock, valued at $41,703,014.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Mauro Premutico sold 10,044 shares of Universal Display stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $123.63, for a total value of $1,241,739.72. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zweig DiMenna Associates LLC raised its position in Universal Display by 125.0% during the third quarter. Zweig DiMenna Associates LLC now owns 66,873 shares of the semiconductor company’s stock valued at $7,884,000 after purchasing an additional 37,158 shares in the last quarter. Essex Investment Management Co. LLC purchased a new stake in Universal Display during the second quarter valued at about $319,000. PNC Financial Services Group Inc. raised its position in Universal Display by 13.9% during the second quarter. PNC Financial Services Group Inc. now owns 4,432 shares of the semiconductor company’s stock valued at $381,000 after purchasing an additional 542 shares in the last quarter. Intl Fcstone Inc. purchased a new stake in Universal Display during the second quarter valued at about $309,000. Finally, grace capital purchased a new stake in Universal Display during the second quarter valued at about $430,000. Institutional investors and hedge funds own 73.77% of the company’s stock.

About Universal Display

Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in flat panel displays and solid-state lighting applications. As of February 22, 2018, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 4,500 issued and pending patents worldwide.

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Analyst Recommendations for Universal Display (NASDAQ:OLED)

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