Universal Display Co. (NASDAQ:OLED - Get Free Report) shares saw strong trading volume on Thursday after the company announced better than expected quarterly earnings. 232,326 shares traded hands during trading, a decline of 36% from the previous session's volume of 362,821 shares.The stock last traded at $183.12 and had previously closed at $203.16.
The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.20 by $0.20. Universal Display had a return on equity of 15.25% and a net margin of 35.74%. The firm had revenue of $161.63 million during the quarter, compared to the consensus estimate of $165.28 million. During the same period last year, the company earned $1.08 EPS. The company's quarterly revenue was up 14.6% on a year-over-year basis.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the stock. Needham & Company LLC dropped their price objective on shares of Universal Display from $242.00 to $215.00 and set a "buy" rating for the company in a report on Thursday. Roth Mkm upped their target price on shares of Universal Display from $189.00 to $217.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. The Goldman Sachs Group increased their price objective on shares of Universal Display from $208.00 to $243.00 and gave the company a "buy" rating in a research report on Thursday, July 18th. Oppenheimer decreased their price objective on shares of Universal Display from $240.00 to $220.00 and set an "outperform" rating for the company in a research report on Thursday. Finally, Susquehanna increased their price target on shares of Universal Display from $170.00 to $175.00 and gave the company a "neutral" rating in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $215.63.
Read Our Latest Stock Analysis on Universal Display
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of OLED. Vanguard Group Inc. raised its stake in shares of Universal Display by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 4,567,374 shares of the semiconductor company's stock worth $769,374,000 after buying an additional 50,233 shares in the last quarter. Primecap Management Co. CA increased its position in Universal Display by 0.4% during the 2nd quarter. Primecap Management Co. CA now owns 1,895,017 shares of the semiconductor company's stock worth $398,427,000 after purchasing an additional 7,435 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of Universal Display in the second quarter valued at approximately $127,668,000. Van ECK Associates Corp raised its holdings in Universal Display by 27.2% in the 3rd quarter. Van ECK Associates Corp now owns 507,440 shares of the semiconductor company's stock valued at $101,914,000 after acquiring an additional 108,394 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Universal Display by 27.3% during the second quarter. Dimensional Fund Advisors LP now owns 469,570 shares of the semiconductor company's stock worth $98,725,000 after buying an additional 100,809 shares during the period. 78.19% of the stock is currently owned by hedge funds and other institutional investors.
Universal Display Stock Performance
The firm has a market capitalization of $8.55 billion, a PE ratio of 39.20, a price-to-earnings-growth ratio of 2.16 and a beta of 1.42. The company's fifty day moving average price is $201.79 and its two-hundred day moving average price is $193.89.
About Universal Display
(
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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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