Universal Display Corporation (NASDAQ:OLED) shares continue to see major gains today as OLED technology seems to be a hot trend within the market as of late. As rumors of a possible future Apple iPhone taking advantage of organic light emitting diode (OLED) technologies, one has to wonder if Universal Display Corporation (NASDAQ:OLED) will be the company to supply that technology to Apple for their iPhone displays.
Although Apple isn’t expected to use OLED displays on their iPhones for another year and a half according to recent rumors, other companies are already looking towards the technology for soon to launch devices such as smartphones and watches. The fact that Universal Display Corporation is among the leaders when it comes to these displays, this certainly bodes well for the company and its shareholders moving forward. The stock is up 6.62% or $3.53 following the news, hitting $56.86 per share. About 635,129 shares traded hands. OLED has risen 17.34% since April 29, 2015 and is uptrending. It has outperformed the S&P500 by 17.54%.
From a total of 3 analysts covering Universal Display (NASDAQ:OLED) stock, 0 rate it a “Buy”, 0 a “Sell”, and 3 a “Hold”. This means that 0 of the ratings are positive. The highest target price is $41 while the lowest target price is $31. The mean of all analyst targets is $37.33 which is -34.35% below today’s ($56.86) stock price. Universal Display was the topic of 4 analyst reports since August 11, 2015 according to the firm StockzIntelligence Inc. Goldman Sachs downgraded shares on October 16 to a “Neutral” rating. Zacks downgraded OLED stock in a recent report from August 11 to a “Hold” rating.
The institutional sentiment decreased to 0.92 in Q2 2015. It’s down 0.15, from 1.07 in 2015Q1. The ratio dived, as 18 funds sold all their Universal Display Corporation shares they owned while 65 reduced their positions. 35 funds bought stakes while 41 increased their total positions. Institutions now own 27.98 million shares which is 9.23% less than the previous share count of 30.82 million in 2015Q1.
Domini Social Investments Llc holds 7.76% of its total portfolio in Universal Display Corporation, equating to 9,728 shares. Discovery Capital Management Llc Ct owns 5.14 million shares representing 3.13% of their total US portfolio. Moreover, Princeton Capital Management Inc has 2.36% of their total portfolio invested in the company, equating to 86,226 shares. The -based Avenir Corp has a total of 2.08% of their portfolio invested in the stock. Muhlenkamp & Co Inc, a Pennsylvania-based fund reported 185,915 shares owned.
Universal Display Corporation is engaged in the research, development and commercialization of organic light emitting diode , technologies and materials for use in displays for wearables, smartphones, tablets and televisions, as well as solid-state lighting applications. The company has a market cap of $2.62 billion. 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. It has 268.65 P/E ratio. The Firm 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.