Universal Display (NASDAQ:OLED) Downgraded to Buy at ValuEngine

ValuEngine lowered shares of Universal Display (NASDAQ:OLED) from a strong-buy rating to a buy rating in a research note released on Friday morning, ValuEngine reports.

A number of other equities analysts have also recently weighed in on OLED. Susquehanna Bancshares reaffirmed a neutral rating and set a $180.00 price objective on shares of Universal Display in a research report on Monday, April 29th. Citigroup increased their price objective on shares of Universal Display from $180.00 to $223.00 and gave the stock a neutral rating in a research report on Friday. Oppenheimer cut shares of Universal Display from an outperform rating to a market perform rating and set a $190.50 price objective for the company. in a research report on Wednesday, July 10th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Universal Display from a strong-buy rating to a hold rating in a research report on Wednesday, April 24th. Finally, Roth Capital increased their price objective on shares of Universal Display from $172.00 to $206.00 and gave the stock a neutral rating in a research report on Friday. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $182.46.

Shares of Universal Display stock traded down $3.43 during mid-day trading on Friday, hitting $205.49. The stock had a trading volume of 2,373,039 shares, compared to its average volume of 549,683. The firm’s 50-day simple moving average is $195.57. Universal Display has a 12-month low of $78.78 and a 12-month high of $218.28. The company has a market cap of $9.96 billion, a price-to-earnings ratio of 165.72, a P/E/G ratio of 2.88 and a beta of 1.53.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.46. Universal Display had a net margin of 28.93% and a return on equity of 12.35%. The business had revenue of $118.17 million during the quarter, compared to analysts’ expectations of $79.26 million. During the same quarter in the prior year, the company posted $0.23 EPS. The business’s revenue for the quarter was up 110.5% on a year-over-year basis. As a group, equities analysts expect that Universal Display will post 2.44 EPS for the current year.

In other Universal Display news, insider Steven V. Abramson sold 30,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $179.64, for a total transaction of $5,389,200.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Julia J. Brown sold 25,477 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $200.00, for a total transaction of $5,095,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 136,227 shares of company stock worth $24,676,468. 3.70% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Meridian Wealth Management LLC acquired a new stake in shares of Universal Display in the 1st quarter valued at $31,000. TCI Wealth Advisors Inc. raised its holdings in shares of Universal Display by 1,458.3% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 187 shares of the semiconductor company’s stock valued at $35,000 after purchasing an additional 175 shares in the last quarter. Weaver Consulting Group acquired a new stake in shares of Universal Display in the 1st quarter valued at $39,000. Regal Investment Advisors LLC acquired a new stake in shares of Universal Display in the 1st quarter valued at $50,000. Finally, Pearl River Capital LLC raised its holdings in shares of Universal Display by 251.4% in the 1st quarter. Pearl River Capital LLC now owns 390 shares of the semiconductor company’s stock valued at $60,000 after purchasing an additional 279 shares in the last quarter. Institutional investors own 75.48% 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 21, 2019, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 5,000 issued and pending patents worldwide.

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