Canaccord Genuity Assumes Universal Display Corporation to Hold

Brokerage firm Canaccord Genuity Assumes its rating on Universal Display Corporation(NASDAQ:OLED). The shares have been rated Hold. The rating by Canaccord Genuity was issued on Sep 23, 2016.

In a different note, On Aug 5, 2016, Needham said it Downgrades its rating on Universal Display Corporation. The shares have been rated ‘Hold’ by the firm.

Universal Display Corporation (OLED) made into the market gainers list on Tuesdays trading session with the shares advancing 1.66% or 0.96 points. Due to strong positive momentum, the stock ended at $58.75, which is also near the day’s high of $58.755. The stock began the session at $58.02 and the volume stood at 4,39,864 shares. The 52-week high of the shares is $74.39 and the 52 week low is $32.47. The company has a current market capitalization of $2,759 M and it has 4,69,56,623 shares in outstanding.

Universal Display Corporation(OLED) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $64.39M. Analysts had an estimated revenue of $68.68M. Earnings per share were $0.46. Analysts had estimated an EPS of $0.50.

Several Insider Transactions has been reported to the SEC. On Sep 20, 2016, Leonard Becker (director) sold 5,000 shares at $61.10 per share price.Also, On Apr 21, 2016, Sidney D Rosenblatt (EVP and CFO) sold 25,000 shares at $61.56 per share price.On Apr 12, 2016, Julia J Brown (Chief Technical Officer) sold 25,000 shares at $55.00 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.

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