Today: The Universal Display Corp. (OLED) Given New $49.00 Price Target at Canaccord Genuity

The Universal Display Corp. (OLED) Given New $49.00 Price Target at Canaccord Genuity

Universal Display Corp. (NASDAQ:OLED) had its target price lowered by research analysts at Canaccord Genuity from $51.00 to $49.00 in a research report issued to clients and investors on Monday, StockTargetPrices.com reports. The brokerage presently has a “hold” rating on the stock. Canaccord Genuity’s price target would suggest a potential downside of 14.63% from the stock’s previous close.

Other research analysts have also issued research reports about the company. TheStreet raised Universal Display Corp. from a “hold” rating to a “buy” rating in a report on Wednesday, August 10th. Gabelli raised Universal Display Corp. from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a report on Friday, November 4th. Cowen and Company set a $75.00 price objective on Universal Display Corp. and gave the stock a “buy” rating in a report on Tuesday, October 11th. Zacks Investment Research raised Universal Display Corp. from a “strong sell” rating to a “hold” rating in a report on Thursday, October 6th. Finally, Needham & Company LLC lowered Universal Display Corp. from a “buy” rating to a “hold” rating in a report on Friday, August 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $67.40.

Shares of Universal Display Corp. (NASDAQ:OLED) traded up 0.17% on Monday, reaching $57.40. The company’s stock had a trading volume of 230,032 shares. The stock has a market capitalization of $2696.02 billion, a P/E ratio of 67.53 and a beta of 1.35. The company has a 50 day moving average of $53.64 and a 200 day moving average of $60.90. Universal Display Corp. has a 1-year low of $40.44 and a 1-year high of $74.39.

Universal Display Corp. (NASDAQ:OLED) last released its earnings results on Thursday, November 3rd. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.01. The business had revenue of $30.20 million for the quarter, compared to analyst estimates of $32.95 million. Universal Display Corp. had a return on equity of 8.37% and a net margin of 21.61%. The company’s revenue for the quarter was down 23.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 earnings per share. Equities research analysts expect that Universal Display Corp. will post $0.89 earnings per share for the current fiscal year.

In other Universal Display Corp. news, Director Leonard Becker sold 5,000 shares of the company’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $61.11, for a total value of $305,550.00. Following the sale, the director now owns 19,650 shares of the company’s stock, valued at $1,200,811.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Janice K. Mahon sold 10,584 shares of the company’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $60.05, for a total value of $635,569.20. The disclosure for this sale can be found here. 5.70% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its stake in shares of Universal Display Corp. by 69.1% in the third quarter. Price T Rowe Associates Inc. MD now owns 22,714 shares of the company’s stock valued at $1,261,000 after buying an additional 9,285 shares in the last quarter. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of Universal Display Corp. during the third quarter valued at about $798,000. Credit Suisse AG increased its stake in shares of Universal Display Corp. by 16.1% in the third quarter. Credit Suisse AG now owns 48,997 shares of the company’s stock valued at $2,719,000 after buying an additional 6,784 shares in the last quarter. Verition Fund Management LLC bought a new stake in shares of Universal Display Corp. during the third quarter valued at about $416,000. Finally, Candriam Luxembourg S.C.A. increased its stake in shares of Universal Display Corp. by 35.0% in the third quarter. Candriam Luxembourg S.C.A. now owns 13,500 shares of the company’s stock valued at $749,000 after buying an additional 3,500 shares in the last quarter. 68.10% of the stock is currently owned by institutional investors.

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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