Universal Display Co. (OLED) Downgraded to “Hold” at Zacks Investment Research
Universal Display Co. (NASDAQ:OLED) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Universal Display Corporation is located in the Princeton Crossroads Corporate Center in Ewing, New Jersey, minutes away from its research partner at Princeton University. Universal Display’s state-of-the-art facility is designed to further technology and materials development, technology transfer to manufacturing partners and work with customers to develop OLED products that meet their needs. “
Several other analysts also recently commented on OLED. Cowen and Company reissued an “outperform” rating and issued a $75.00 target price on shares of Universal Display in a research report on Thursday, February 16th. Needham & Company LLC reissued a “hold” rating on shares of Universal Display in a research report on Wednesday, December 28th. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Universal Display in a research report on Friday, February 24th. Susquehanna Bancshares Inc assumed coverage on shares of Universal Display in a research report on Wednesday, February 15th. They issued a “positive” rating and a $100.00 target price for the company. Finally, TheStreet raised shares of Universal Display from a “c+” rating to a “b” rating in a research report on Thursday, February 23rd. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Universal Display currently has an average rating of “Buy” and a consensus target price of $81.57.
Shares of Universal Display (NASDAQ:OLED) opened at 85.25 on Tuesday. The company has a market cap of $4.01 billion, a P/E ratio of 83.58 and a beta of 1.27. The stock has a 50 day moving average of $74.56 and a 200 day moving average of $61.13. Universal Display has a 52-week low of $47.88 and a 52-week high of $88.50.
Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, February 23rd. The company reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.13. The company earned $74.60 million during the quarter, compared to the consensus estimate of $68.60 million. Universal Display had a net margin of 21.61% and a return on equity of 8.37%. The company’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 earnings per share. On average, equities analysts anticipate that Universal Display will post $1.42 earnings per share for the current fiscal year.
The firm also recently announced a special dividend, which will be paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th will be given a $0.03 dividend. The ex-dividend date of this dividend is Monday, March 13th.
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In related news, insider Julia J. Brown sold 47,192 shares of the company’s stock in a transaction on Friday, February 24th. The shares were sold at an average price of $74.00, for a total transaction of $3,492,208.00. Following the completion of the sale, the insider now directly owns 217,848 shares of the company’s stock, valued at approximately $16,120,752. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Leonard Becker sold 5,000 shares of the company’s stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $82.20, for a total transaction of $411,000.00. Following the sale, the director now directly owns 17,500 shares of the company’s stock, valued at $1,438,500. The disclosure for this sale can be found here. Insiders own 5.70% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC purchased a new stake in Universal Display during the fourth quarter valued at about $150,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Universal Display by 4.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,029 shares of the company’s stock valued at $224,000 after buying an additional 164 shares in the last quarter. Usca Ria LLC purchased a new stake in Universal Display during the third quarter valued at about $239,000. Guggenheim Capital LLC increased its stake in Universal Display by 16.7% in the fourth quarter. Guggenheim Capital LLC now owns 4,827 shares of the company’s stock valued at $272,000 after buying an additional 690 shares in the last quarter. Finally, First Republic Investment Management Inc. increased its stake in Universal Display by 6.5% in the fourth quarter. First Republic Investment Management Inc. now owns 5,242 shares of the company’s stock valued at $295,000 after buying an additional 321 shares in the last quarter. 67.82% of the stock is owned by institutional investors and hedge funds.
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 displays for wearables, smartphones, tablets and televisions, as well as solid-state lighting applications. The Company’s flat panel displays are used for various portable consumer electronics products, such as mobile phones, wearables, portable media devices, digital cameras, tablets and notebook computers.
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