Universal Display (NASDAQ:OLED - Get Rating) had its price objective cut by equities researchers at Cowen from $175.00 to $145.00 in a report issued on Friday, Stock Target Advisor reports. Cowen's target price would indicate a potential upside of 15.62% from the company's current price.
A number of other research analysts also recently issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of Universal Display from $225.00 to $192.00 and set a "buy" rating for the company in a research note on Thursday, July 28th. Bank of America cut shares of Universal Display from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $190.00 to $135.00 in a research note on Wednesday, June 29th. Cowen lowered their price target on shares of Universal Display from $175.00 to $145.00 in a research note on Friday. DA Davidson decreased their price objective on shares of Universal Display from $165.00 to $140.00 in a research report on Tuesday, July 26th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Universal Display from $180.00 to $150.00 and set a "buy" rating on the stock in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Universal Display currently has a consensus rating of "Moderate Buy" and a consensus target price of $168.30.
Universal Display Stock Performance
Shares of NASDAQ:OLED traded up $6.36 during midday trading on Friday, hitting $125.41. The company's stock had a trading volume of 884,551 shares, compared to its average volume of 436,320. The business's 50 day simple moving average is $113.53 and its 200 day simple moving average is $134.83. The company has a market cap of $5.92 billion, a P/E ratio of 32.74, a price-to-earnings-growth ratio of 1.33 and a beta of 1.46. Universal Display has a 12-month low of $98.71 and a 12-month high of $220.23.
Universal Display (NASDAQ:OLED - Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The semiconductor company reported $0.87 earnings per share for the quarter, missing analysts' consensus estimates of $1.00 by ($0.13). Universal Display had a net margin of 32.02% and a return on equity of 17.14%. The company had revenue of $136.60 million for the quarter, compared to analyst estimates of $151.21 million. During the same quarter in the prior year, the business earned $0.85 earnings per share. Universal Display's revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts predict that Universal Display will post 4.33 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Universal Display
Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its stake in Universal Display by 42.3% in the first quarter. JPMorgan Chase & Co. now owns 838,603 shares of the semiconductor company's stock valued at $140,006,000 after buying an additional 249,377 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Universal Display by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 4,266,391 shares of the semiconductor company's stock valued at $712,274,000 after purchasing an additional 241,855 shares during the period. Renaissance Technologies LLC boosted its position in shares of Universal Display by 493.6% in the 4th quarter. Renaissance Technologies LLC now owns 287,539 shares of the semiconductor company's stock valued at $47,453,000 after purchasing an additional 239,100 shares during the period. State Street Corp boosted its position in Universal Display by 10.2% during the 4th quarter. State Street Corp now owns 1,388,245 shares of the semiconductor company's stock worth $229,102,000 after acquiring an additional 128,230 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in Universal Display by 98.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 250,815 shares of the semiconductor company's stock worth $41,392,000 after acquiring an additional 124,660 shares during the period. 71.15% of the stock is currently 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 display and solid-state lighting applications. It owns, exclusively licenses, or has sole rights to sublicense approximately 5,500 issued and pending patents worldwide.
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