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OLED stock rated a Buy by Needham

In a filing, Universal Display Corp. revealed its EVP & Chief Technical Officer BROWN JULIA J unloaded Company’s shares for reported $1.81 million on May 08 ’24. In the deal valued at $175.00 per share,10,358 shares were sold. As a result of this transaction, BROWN JULIA J now holds 56,624 shares worth roughly $12.09 million.

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Then, Premutico Mauro sold 8,202 shares, generating $1,450,247 in total proceeds. Upon selling the shares at $176.82, the SVP & CLO now owns 28,743 shares.

Before that, LACERTE LAWRENCE sold 7,000 shares. Universal Display Corp. shares valued at $1,199,265 were divested by the Director at a price of $171.32 per share. As a result of the transaction, LACERTE LAWRENCE now holds 119,688 shares, worth roughly $25.55 million.

Needham reiterated its Universal Display Corp. [OLED] rating to a Buy in a research note published on July 02, 2024; the price target was $242. A number of analysts have revised their coverage, including TD Cowen’s analysts, who remained covering the stock and in late February has reiterated a ‘”an Outperform”‘ rating for it. Citigroup also remained covering OLED and has decreased its forecast on January 19, 2024 with a “Neutral” recommendation from previously “Buy” rating. BofA Securities revised its rating on December 18, 2023. It rated OLED as “a Buy” which previously was an “a Neutral”.

Price Performance Review of OLED

On Tuesday, Universal Display Corp. [NASDAQ:OLED] saw its stock jump 2.32% to $213.44. Over the last five days, the stock has gained 2.73%. Universal Display Corp. shares have risen nearly 11.60% since the year began. Nevertheless, the stocks have risen 48.09% over the past one year. While a 52-week high of $212.46 was reached on 07/02/24, a 52-week low of $133.67 was recorded on 04/19/24. SMA at 50 days reached $181.82, while 200 days put it at $171.32. A total of 0.39 million shares were traded, compared to the trading of 0.22 million shares in the previous session.

Levels Of Support And Resistance For OLED Stock

The 24-hour chart illustrates a support level at 210.00, which if violated will result in even more drops to 206.56. On the upside, there is a resistance level at 215.97. A further resistance level may holdings at 218.50. The Relative Strength Index (RSI) on the 14-day chart is 74.42, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 3.41, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 8.12%. Stochastics%K at 90.17% indicates the stock is a selling.

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