Needham Downgrades Universal Display Corporation to Hold

Brokerage firm Needham Downgrades its rating on Universal Display Corporation(NASDAQ:OLED). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by Needham was issued on Aug 5, 2016.

In a different note, On May 23, 2016, Goldman Sachs said it Upgrades its rating on Universal Display Corporation. The shares have been rated ‘Buy’ by the firm.

Universal Display Corporation (OLED) shares turned negative on Wednesdays trading session with the shares closing down -0.15 points or -0.25% at a volume of 5,34,269. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $59.9. The peak price level was also seen at $59.9 while the days lowest was $58.8201. Finally the shares closed at $59.34. The 52-week high of the shares is $74.39 while the 52-week low is $32.47. According to the latest information available, the market cap of the company is $2,786 M.

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 Apr 21, 2016, Sidney D Rosenblatt (EVP and CFO) sold 25,000 shares at $61.56 per share price.Also, On Apr 12, 2016, Julia J Brown (Chief Technical Officer) sold 25,000 shares at $55.00 per share price.On Mar 21, 2016, Leonard Becker (director) sold 5,000 shares at $53.15 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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