Universal Display Co. (NASDAQ:OLED) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a 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 equities analysts have also weighed in on OLED. Cowen and Company restated an “outperform” rating and issued a $75.00 price target on shares of Universal Display in a research note on Thursday, February 16th. Needham & Company LLC restated a “hold” rating on shares of Universal Display in a research note on Wednesday, December 28th. Oppenheimer Holdings Inc. restated a “market perform” rating on shares of Universal Display in a research note on Friday, February 24th. Susquehanna Bancshares Inc began coverage on Universal Display in a research note on Wednesday, February 15th. They issued a “positive” rating and a $100.00 price target for the company. Finally, TheStreet upgraded Universal Display from a “c+” rating to a “b” rating in a research note on Thursday, February 23rd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $83.29.

Analyst Recommendations for Universal Display (NASDAQ:OLED)

Universal Display (NASDAQ:OLED) opened at 85.10 on Tuesday. The firm’s 50 day moving average price is $83.85 and its 200-day moving average price is $65.53. The company has a market capitalization of $4.00 billion, a PE ratio of 83.43 and a beta of 1.27. Universal Display has a 12-month low of $47.88 and a 12-month high of $89.95.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Thursday, February 23rd. The semiconductor company reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.13. Universal Display had a return on equity of 8.37% and a net margin of 21.61%. The firm earned $74.60 million during the quarter, compared to analyst estimates of $68.60 million. During the same quarter in the previous year, the business earned $0.39 EPS. Universal Display’s revenue for the quarter was up 19.7% compared to the same quarter last year. On average, equities analysts anticipate that Universal Display will post $1.42 earnings per share for the current fiscal year.

The business also recently announced a special dividend, which was paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th were issued a dividend of $0.03 per share. The ex-dividend date was Monday, March 13th.

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In related news, Director Leonard Becker sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $82.20, for a total value of $411,000.00. Following the transaction, the director now directly owns 17,500 shares in the company, valued at $1,438,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Julia J. Brown sold 47,192 shares of the company’s stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $74.00, for a total value of $3,492,208.00. Following the completion of the transaction, the insider now owns 217,848 shares in the company, valued at $16,120,752. The disclosure for this sale can be found here. Insiders own 5.70% of the company’s stock.

A number of hedge funds have recently made changes to their positions in OLED. Parallel Advisors LLC purchased a new stake in shares of Universal Display during the fourth quarter worth about $150,000. Foundry Partners LLC purchased a new stake in shares of Universal Display during the first quarter worth about $208,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Universal Display by 4.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,029 shares of the semiconductor company’s stock worth $224,000 after buying an additional 164 shares during the last quarter. Usca Ria LLC purchased a new stake in shares of Universal Display during the third quarter worth about $239,000. Finally, Guggenheim Capital LLC raised its stake in shares of Universal Display by 16.7% in the fourth quarter. Guggenheim Capital LLC now owns 4,827 shares of the semiconductor company’s stock worth $272,000 after buying an additional 690 shares during the last quarter. 67.82% of the stock is currently owned by institutional investors.

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 display and solid-state lighting applications. The Company also supplies its OLED materials to manufacturers of OLED displays and lighting products for evaluation and for use in product development and for pre-commercial activities, and it also provides technical assistance and support to these manufacturers.

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