Weiss Ratings Reaffirms Hold (C) Rating for Universal Display (NASDAQ:OLED)

Key Points

• Weiss Ratings has reaffirmed its "hold (C)" rating for Universal Display (NASDAQ:OLED), indicating a cautious stance on the stock.
• Zacks Research recently downgraded Universal Display from a "strong-buy" rating to a "hold" rating, with analysts maintaining a consensus rating of "Moderate Buy" and an average target price of $190.43.
• In its latest quarterly earnings report, Universal Display exceeded earnings expectations with an EPS of $1.41, surpassing the consensus of $1.18 and reporting revenue growth of 8.4% year-over-year.

Universal Display (NASDAQ:OLED - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Separately, Zacks Research downgraded shares of Universal Display from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 19th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $190.43.

Universal Display Price Performance

OLED stock traded up $4.50 during midday trading on Wednesday, reaching $144.89. 475,482 shares of the stock were exchanged, compared to its average volume of 782,787. Universal Display has a 52 week low of $103.70 and a 52 week high of $214.57. The company has a fifty day moving average price of $141.84 and a 200 day moving average price of $142.64. The stock has a market capitalization of $6.89 billion, a PE ratio of 28.30, a P/E/G ratio of 4.12 and a beta of 1.55.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The semiconductor company reported $1.41 EPS for the quarter, beating analysts' consensus estimates of $1.18 by $0.23. The company had revenue of $171.79 million during the quarter, compared to the consensus estimate of $161.58 million. Universal Display had a return on equity of 15.82% and a net margin of 36.95%.Universal Display's revenue was up 8.4% on a year-over-year basis. During the same period last year, the business posted $1.10 earnings per share. Universal Display has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Universal Display will post 4.71 earnings per share for the current fiscal year.

Institutional Trading of Universal Display

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OLED. Kayne Anderson Rudnick Investment Management LLC raised its stake in Universal Display by 73.8% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,407,846 shares of the semiconductor company's stock valued at $614,806,000 after acquiring an additional 1,871,333 shares during the period. Primecap Management Co. CA increased its position in shares of Universal Display by 20.7% during the 2nd quarter. Primecap Management Co. CA now owns 2,215,308 shares of the semiconductor company's stock valued at $342,176,000 after purchasing an additional 379,586 shares during the last quarter. Norges Bank purchased a new stake in Universal Display in the 2nd quarter worth approximately $124,480,000. First Trust Advisors LP increased its holdings in shares of Universal Display by 14.9% in the 2nd quarter. First Trust Advisors LP now owns 699,412 shares of the semiconductor company's stock worth $108,031,000 after purchasing an additional 90,766 shares in the last quarter. Finally, Greenhouse Funds LLLP lifted its position in Universal Display by 14.4% during the second quarter. Greenhouse Funds LLLP now owns 644,146 shares of the semiconductor company's stock valued at $99,495,000 after purchasing an additional 81,025 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Universal Display Company Profile

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 in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.

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