Equities researchers at Roth Capital initiated coverage on shares of Universal Display (NASDAQ:OLED) in a report released on Monday, May 21st, MarketBeat reports. The brokerage set a “buy” rating and a $136.00 price target on the semiconductor company’s stock. Roth Capital’s price objective points to a potential upside of 37.93% from the company’s previous close.
Several other research analysts have also recently weighed in on OLED. 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. BidaskClub cut Universal Display from a “hold” rating to a “sell” rating in a research note on Friday, January 26th. Zacks Investment Research cut Universal Display from a “buy” rating to a “hold” rating in a research note on Saturday, January 27th. Needham & Company LLC raised Universal Display from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research note on Tuesday, February 20th. They noted that the move was a valuation call. Finally, Cowen set a $225.00 target price on Universal Display and gave the company a “buy” rating in a research note on Tuesday, February 20th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. Universal Display has an average rating of “Buy” and an average target price of $170.73.
Shares of Universal Display traded down $0.25, reaching $98.60, during trading hours on Monday, according to MarketBeat. 718,800 shares of the company’s stock traded hands, compared to its average volume of 1,527,850. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of 40.58 and a beta of 1.38. Universal Display has a twelve month low of $86.85 and a twelve month high of $209.00.
Universal Display (NASDAQ:OLED) last announced its earnings results on Thursday, May 3rd. The semiconductor company reported $0.13 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.13. Universal Display had a return on equity of 17.53% and a net margin of 30.74%. The business had revenue of $43.57 million during the quarter, compared to analysts’ expectations of $50.85 million. During the same quarter last year, the business posted $0.22 earnings per share. The company’s quarterly revenue was down 21.6% on a year-over-year basis. research analysts expect that Universal Display will post 1.95 earnings per share for the current fiscal year.
In related news, Director Rosemarie B. Greco sold 3,750 shares of the stock in a transaction on Thursday, June 7th. The stock was sold at an average price of $98.15, for a total value of $368,062.50. Following the completion of the transaction, the director now owns 10,700 shares in the company, valued at approximately $1,050,205. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.00% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd purchased a new stake in Universal Display in the 1st quarter worth about $2,027,000. Summit X LLC purchased a new stake in Universal Display in the 1st quarter worth about $1,551,000. Amalgamated Bank lifted its stake in Universal Display by 6.8% in the 1st quarter. Amalgamated Bank now owns 8,893 shares of the semiconductor company’s stock worth $898,000 after acquiring an additional 569 shares in the last quarter. Navellier & Associates Inc lifted its stake in Universal Display by 198.3% in the 1st quarter. Navellier & Associates Inc now owns 30,658 shares of the semiconductor company’s stock worth $3,096,000 after acquiring an additional 20,381 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in Universal Display in the 1st quarter worth about $466,000. 65.45% of the stock is owned by hedge funds and other institutional investors.
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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