Universal Display (NASDAQ:OLED) Sees Strong Trading Volume Following Strong Earnings

Universal Display Co. (NASDAQ:OLED) shares saw strong trading volume on Thursday following a better than expected earnings announcement. 232,326 shares changed 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 for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20. The company had revenue of $161.63 million during the quarter, compared to the consensus estimate of $165.28 million. Universal Display had a net margin of 35.74% and a return on equity of 15.25%. Universal Display’s revenue was up 14.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.08 EPS.

Wall Street Analyst Weigh In

OLED has been the topic of several research reports. The Goldman Sachs Group upped their price target on Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Susquehanna upped their target price on Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Needham & Company LLC dropped their price target on Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a research note on Thursday. Oppenheimer cut their price objective on Universal Display from $240.00 to $220.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, TD Cowen decreased their target price on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a report on Thursday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Universal Display presently has an average rating of “Moderate Buy” and a consensus target price of $215.63.

Hedge Funds Weigh In On Universal Display

Several institutional investors and hedge funds have recently bought and sold shares of OLED. V Square Quantitative Management LLC purchased a new stake in shares of Universal Display in the third quarter worth approximately $31,000. ORG Partners LLC purchased a new stake in Universal Display in the 1st quarter worth approximately $27,000. Nisa Investment Advisors LLC boosted its stake in shares of Universal Display by 60.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 65 shares during the period. Itau Unibanco Holding S.A. purchased a new position in shares of Universal Display during the 2nd quarter valued at $44,000. Finally, Tortoise Investment Management LLC acquired a new position in shares of Universal Display in the second quarter worth $47,000. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Price 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 has a fifty day moving average of $201.79 and a 200-day moving average of $193.89.

Universal Display Company Profile

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.