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Stock Investors Sell Off Shares of Universal Display, Down 2.8%

Published on Wed, 02/20/2013 - 11:17
By Robert Cotter

One of today's stocks on the move is Universal Display (NASDAQ:PANL), down 2.8% to $32.07. The Dow Jones Industrial Average is now trading fractionally lower to 14,034 and the S&P is trading 0.3% lower to 1,527.

Universal Display share prices have moved between a 52-week high of $46.27 and a 52-week low of $21.55 and are now trading 49% above that low price at $32.07 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has slid 0.4%.

Universal Display Corporation is a leader in developing and delivering state-of-the-art, organic light emitting device (OLED) technologies, materials and services to the display and lighting industries. Founded in 1994, the company currently owns or has exclusive, co-exclusive or sole license rights with respect to more than 1,200 issued and pending patents worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED phosphorescent OLED technology, that can enable the development of low power and eco-friendly displays and white lighting. The company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the fabrication of OLEDs with peak performance. In addition, Universal Display delivers innovative and customized solutions to its clients and partners through technology transfer, collaborative technology development and on-site training.

Universal Display (NASDAQ:PANL) is currently priced 6.5% above its average consensus analyst price target of $30.00. The stock should find resistance at its 200-day moving average (MA) of $32.11, as well as support at its 50-day MA of $27.92.

By Robert Cotter