Universal Display (NYSE:OLED) Rating Reaffirmed
In recent note sent to investors this morning, Canaccord Genuity has decided to restate their “Hold” rating on Universal Display (NYSE:OLED) shares. The target price provides a possible downside of -5.25% from company’s stock price.
From a total of 7 analysts covering Universal Display (NYSE:OLED) stock, 5 rate it a ”Buy”, 0 a “Sell”, and 5 a ”Hold”. This means that 50% of the ratings are positive. The highest target price is $62 while the lowest target price is $35. The mean of all analyst targets is $51.29 with a -20.21% below today’s ($54.73) stock price. Universal Display was the topic of 3 analyst reports since August 7, 2015 according to the firm StockzIntelligence Inc. Goldman Sachs downgraded shares on October 16 to “Neutral” rating.
Approximately 509,157 shares of stock traded hands. Universal Display Corporation (NYSE:OLED) has risen 24.30% since May 6, 2015 and is uptrending. It has outperformed by 25.10% the S&P500.
The overall sentiment of institutions has decreased to 0.87 in Q2 2015. Its down 0.05, from 0.92 in 2015Q2. The ratio dived, as 43 institutions have sold all the shares of Universal Display Corporation that they owned while 47 funds have taken shares off the table. 23 funds have purchased shares for the first time while 55 added to their positions. These institutions now hold 26.66 million shares or 4.71% less than the 27.98 million shares they owned in 2015Q2.
The Fund Domini Social Investments Llc currently is holding shares equating to 6.14% of its total portfolio in Universal Display Corporation representing a total of 11,096 shares. Another fund,Princeton Capital Management Inc, is holding a total of 95,975 shares equating to 1.97% of their holdings. Additionally, Muhlenkamp & Co Inc has a 186,760 share stake in Universal Display Corporation which represents 1.86% of their total portfolio. The Fund, Discovery Capital Management Llc Ct, based out of Connecticut, has also built up a stake in the stock, which represents a total of 1.58% of their total portfolio. Finally Avenir Corp, a fund which is based in the state of reported a total holdings of 534,682 shares.
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 $2.60 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 258.59 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.
According to Zacks Investment Research, “Universal Display Corporation is located in the Princeton Crossroads Corporate Center in Ewing, New Jersey, minutes away from its research partner at Princeton University. Universal Display’s state-of-the-art facility is designed to further technology and materials development, technology transfer to manufacturing partners and work with customers to develop OLED products that meet their needs.” Get a free copy of the Zacks research report on Universal Display Corporation (OLED).