Zacks Research Upgrades Universal Display (NASDAQ:OLED) to Hold

Universal Display (NASDAQ:OLED) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

Several other brokerages also recently commented on OLED. Citigroup dropped their target price on shares of Universal Display from $100.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, August 3rd. Susquehanna decreased their target price on Universal Display from $110.00 to $90.00 and set a “neutral” rating for the company in a research note on Friday, July 31st. Roth Capital set a $168.00 price target on Universal Display in a report on Friday, May 1st. The Goldman Sachs Group set a $135.00 price objective on shares of Universal Display in a research note on Tuesday, April 21st. Finally, Weiss Ratings cut shares of Universal Display from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $116.33.

Universal Display Stock Down 2.2%

Shares of OLED stock opened at $88.92 on Thursday. Universal Display has a 12 month low of $76.42 and a 12 month high of $153.38. The company has a market cap of $4.09 billion, a PE ratio of 21.53 and a beta of 1.54. The business’s 50 day moving average is $84.74 and its two-hundred day moving average is $94.98.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.03. The business had revenue of $152.16 million during the quarter, compared to the consensus estimate of $157.54 million. Universal Display had a net margin of 32.24% and a return on equity of 11.35%. Universal Display’s quarterly revenue was down 11.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.41 EPS. As a group, equities analysts expect that Universal Display will post 4.18 EPS for the current fiscal year.

Institutional Trading of Universal Display

Institutional investors have recently made changes to their positions in the business. Measured Wealth Private Client Group LLC acquired a new position in Universal Display in the third quarter worth about $33,000. RHL Group LLC bought a new stake in shares of Universal Display in the 4th quarter valued at approximately $60,000. Canada Pension Plan Investment Board acquired a new position in shares of Universal Display in the 2nd quarter worth approximately $62,000. UMB Bank n.a. raised its holdings in shares of Universal Display by 28.3% in the 4th quarter. UMB Bank n.a. now owns 549 shares of the semiconductor company’s stock worth $64,000 after buying an additional 121 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new position in shares of Universal Display during the 4th quarter worth approximately $75,000. 78.19% of the stock is currently owned by institutional investors and hedge funds.

About Universal Display

Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.