Universal Display Corporation (NASDAQ:OLED) was downgraded by equities researchers at Gabelli from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday. They currently have a $134.00 price objective on the semiconductor company’s stock. Gabelli’s price objective suggests a potential downside of 14.29% from the company’s current price.

OLED has been the topic of several other research reports. BidaskClub cut shares of Universal Display Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of Universal Display Corporation in a research note on Wednesday, August 9th. Cowen and Company set a $140.00 price objective on shares of Universal Display Corporation and gave the stock a “buy” rating in a research note on Wednesday, October 11th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $150.00 price objective (up previously from $140.00) on shares of Universal Display Corporation in a research note on Wednesday, August 9th. Finally, Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $150.00 price objective on shares of Universal Display Corporation in a research note on Tuesday, September 5th. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $134.78.

Universal Display Corporation (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.16. The company had revenue of $61.70 million for the quarter, compared to analysts’ expectations of $47.35 million. Universal Display Corporation had a net margin of 31.15% and a return on equity of 14.90%. The business’s revenue was up 104.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.03) EPS.

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In other news, CFO Sidney D. Rosenblatt sold 50,240 shares of Universal Display Corporation stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $135.02, for a total value of $6,783,404.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 5.20% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE boosted its holdings in shares of Universal Display Corporation by 33.4% during the first quarter. Bank of America Corp DE now owns 72,951 shares of the semiconductor company’s stock worth $6,281,000 after purchasing an additional 18,272 shares during the period. BKS Advisors LLC acquired a new stake in shares of Universal Display Corporation during the second quarter worth approximately $2,318,000. Westwood Management Corp IL boosted its holdings in shares of Universal Display Corporation by 70.0% during the second quarter. Westwood Management Corp IL now owns 17,000 shares of the semiconductor company’s stock worth $1,857,000 after purchasing an additional 7,000 shares during the period. Balyasny Asset Management LLC acquired a new stake in shares of Universal Display Corporation during the second quarter worth approximately $3,673,000. Finally, Neuberger Berman Group LLC boosted its holdings in shares of Universal Display Corporation by 18.2% during the second quarter. Neuberger Berman Group LLC now owns 606,472 shares of the semiconductor company’s stock worth $66,257,000 after purchasing an additional 93,223 shares during the period. Institutional investors and hedge funds own 64.69% of the company’s stock.

Universal Display Corporation 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.

Analyst Recommendations for Universal Display Corporation (NASDAQ:OLED)

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