Universal Display (NASDAQ:OLED) Lowered to “Hold” Rating by Zacks Research

Universal Display (NASDAQ:OLED) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

OLED has been the topic of a number of other reports. Needham & Company LLC reaffirmed a “buy” rating and set a $170.00 price objective on shares of Universal Display in a report on Friday, May 2nd. Wall Street Zen raised Universal Display from a “sell” rating to a “hold” rating in a report on Friday, May 2nd. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.43.

Universal Display Stock Down 0.3%

NASDAQ OLED opened at $140.29 on Tuesday. The stock has a fifty day simple moving average of $150.09 and a 200 day simple moving average of $144.42. The company has a market capitalization of $6.67 billion, a price-to-earnings ratio of 27.40, a PEG ratio of 1.50 and a beta of 1.47. Universal Display has a twelve month low of $103.70 and a twelve month high of $215.90.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings results on Thursday, July 31st. The semiconductor company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.23. Universal Display had a return on equity of 15.82% and a net margin of 36.95%.The firm had revenue of $171.79 million during the quarter, compared to the consensus estimate of $161.58 million. During the same period last year, the business posted $1.10 EPS. The business’s revenue was up 8.4% compared to the same quarter last year. Universal Display has set its FY 2025 guidance at EPS. Research analysts expect that Universal Display will post 4.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Universal Display by 73.8% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,407,846 shares of the semiconductor company’s stock worth $614,806,000 after purchasing an additional 1,871,333 shares in the last quarter. Primecap Management Co. CA raised its position in shares of Universal Display by 20.7% during the second quarter. Primecap Management Co. CA now owns 2,215,308 shares of the semiconductor company’s stock valued at $342,176,000 after buying an additional 379,586 shares during the last quarter. Norges Bank purchased a new stake in Universal Display in the 2nd quarter worth $124,480,000. First Trust Advisors LP boosted its stake in Universal Display by 14.9% during the second quarter. First Trust Advisors LP now owns 699,412 shares of the semiconductor company’s stock valued at $108,031,000 after buying an additional 90,766 shares during the last quarter. Finally, Greenhouse Funds LLLP grew its holdings in shares of Universal Display by 14.4% in the second quarter. Greenhouse Funds LLLP now owns 644,146 shares of the semiconductor company’s stock valued at $99,495,000 after purchasing an additional 81,025 shares in the last quarter. Institutional investors own 78.19% 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 display and solid-state lighting applications in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.