Universal Display (NASDAQ:OLED) Shares Up 7.2% on Strong Earnings

Universal Display Co. (NASDAQ:OLED) was up 7.2% on Friday following a better than expected earnings announcement. The company traded as high as $157.87 and last traded at $157.95. Approximately 272,607 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 669,251 shares. The stock had previously closed at $147.34.

The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.14. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. The company had revenue of $162.29 million during the quarter, compared to analysts’ expectations of $152.75 million.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on OLED. Needham & Company LLC reduced their price target on Universal Display from $215.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday. Susquehanna cut their price target on shares of Universal Display from $165.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday. TD Cowen decreased their price objective on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Citigroup lowered their price objective on shares of Universal Display from $200.00 to $162.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Finally, The Goldman Sachs Group reduced their target price on Universal Display from $234.00 to $203.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.00.

Institutional Trading of Universal Display

Several hedge funds and other institutional investors have recently modified their holdings of the company. Glenmede Trust Co. NA raised its position in Universal Display by 1.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 6,046 shares of the semiconductor company’s stock valued at $1,269,000 after buying an additional 97 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Universal Display by 8.8% during the third quarter. BNP Paribas Financial Markets now owns 52,713 shares of the semiconductor company’s stock worth $11,064,000 after buying an additional 4,269 shares during the last quarter. Montanaro Asset Management Ltd raised its position in Universal Display by 217.4% during the third quarter. Montanaro Asset Management Ltd now owns 63,260 shares of the semiconductor company’s stock worth $13,278,000 after acquiring an additional 43,330 shares in the last quarter. Cerity Partners LLC lifted its stake in Universal Display by 385.2% in the third quarter. Cerity Partners LLC now owns 8,588 shares of the semiconductor company’s stock valued at $1,803,000 after acquiring an additional 6,818 shares during the last quarter. Finally, Pacer Advisors Inc. grew its position in shares of Universal Display by 37.2% in the 4th quarter. Pacer Advisors Inc. now owns 27,246 shares of the semiconductor company’s stock valued at $3,983,000 after acquiring an additional 7,390 shares during the period. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Trading Up 5.8 %

The firm’s 50 day moving average price is $148.52 and its two-hundred day moving average price is $173.82. The company has a market capitalization of $7.40 billion, a price-to-earnings ratio of 31.30, a price-to-earnings-growth ratio of 1.60 and a beta of 1.39.

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