Published On: Fri, Sep 23rd, 2016

Universal Display Corp. (OLED) Coverage Initiated at Canaccord Genuity

Stock analysts at Canaccord Genuity initiated coverage on shares of Universal Display Corp. (NASDAQ:OLED) in a report released on Friday. The brokerage set a “hold” rating on the stock.
Several other equities research analysts have also issued reports on the company. TheStreet raised Universal Display Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, August 10th. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Universal Display Corp. in a research note on Monday, August 8th. Needham & Company LLC lowered Universal Display Corp. from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Zacks Investment Research lowered Universal Display Corp. from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 13th. Finally, Cowen and Company reaffirmed a “buy” rating on shares of Universal Display Corp. in a research note on Thursday, May 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $58.00.

Shares of Universal Display Corp. (NASDAQ:OLED) opened at 62.09 on Friday. The firm has a market cap of $2.92 billion, a PE ratio of 60.63 and a beta of 0.99. Universal Display Corp. has a 52 week low of $32.47 and a 52 week high of $74.39. The stock has a 50 day moving average price of $60.36 and a 200 day moving average price of $61.31.

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Universal Display Corp. (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by $0.04. The business had revenue of $64.40 million for the quarter, compared to the consensus estimate of $68.68 million. Universal Display Corp. had a net margin of 24.96% and a return on equity of 10.15%. Universal Display Corp.’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 EPS. Equities analysts expect that Universal Display Corp. will post $0.89 earnings per share for the current year.
In related news, Director Leonard Becker sold 5,000 shares of the business’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $61.11, for a total transaction of $305,550.00. Following the transaction, the director now owns 19,650 shares in the company, valued at approximately $1,200,811.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.70% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN increased its position in shares of Universal Display Corp. by 27.6% in the fourth quarter. Wells Fargo & Company MN now owns 71,953 shares of the company’s stock worth $3,917,000 after buying an additional 15,556 shares in the last quarter. Candriam Luxembourg S.C.A. acquired a new position in shares of Universal Display Corp. during the fourth quarter worth about $544,000. Endurance Wealth Management Inc. increased its position in shares of Universal Display Corp. by 1.5% in the fourth quarter. Endurance Wealth Management Inc. now owns 172,717 shares of the company’s stock worth $9,403,000 after buying an additional 2,475 shares in the last quarter. Systematic Financial Management LP increased its position in shares of Universal Display Corp. by 8.4% in the fourth quarter. Systematic Financial Management LP now owns 353,815 shares of the company’s stock worth $19,261,000 after buying an additional 27,338 shares in the last quarter. Finally, First Mercantile Trust Co. increased its position in shares of Universal Display Corp. by 8.6% in the fourth quarter. First Mercantile Trust Co. now owns 21,914 shares of the company’s stock worth $1,193,000 after buying an additional 1,733 shares in the last quarter. Institutional investors own 67.54% of the company’s stock.
Universal Display Corp. 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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