Universal Display Corporation (OLED) was Reiterated by Needham to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 69 from a previous price target of $62 . Needham advised their investors in a research report released on May 25, 2016.
Many Wall Street Analysts have commented on Universal Display Corporation. Universal Display Corporation was Upgraded by Goldman to ” Buy” on May 23, 2016. Gabelli & Co Downgraded Universal Display Corporation on May 6, 2016 to ” Hold”, Price Target of the shares are set at $51.Company shares were Reiterated by Canaccord Genuity on Apr 18, 2016 to “Hold”, Firm has raised the Price Target to $ 55 from a previous price target of $46 .
On the company’s financial health, Universal Display Corporation reported $0.04 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on May 5, 2016. Analyst had a consensus of $-0.01. The company had revenue of $29.70 million for the quarter, compared to analysts expectations of $30.83 million. The company’s revenue was down -4.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.03 EPS.
Universal Display Corporation opened for trading at $53.9 and hit $56.81 on the upside on Friday, eventually ending the session at $56.41, with a gain of 5.72% or 3.05 points. The heightened volatility saw the trading volume jump to 6,68,932 shares. Company has a market cap of $2,642,696 M.
In a different news, on Apr 21, 2016, Sidney D Rosenblatt (EVP and CFO) sold 25,000 shares at $61.56 per share price. According to the SEC, on Apr 12, 2016, Julia J Brown (Chief Technical Officer) sold 25,000 shares at $55.00 per share price. On Mar 21, 2016, Leonard Becker (director) sold 5,000 shares at $53.15 per share price, according to the Form-4 filing with the securities and exchange commission.
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 a variety of portable consumer electronics products such as cell phones portable media devices digital cameras tablets and laptop computers. 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 provides technical assistance and support to these manufacturers. Its customers include LG Display Tohoku Pioneer and Konica Minolta among others.