BidaskClub cut shares of Universal Display (NASDAQ:OLED) from a buy rating to a hold rating in a report issued on Friday, September 14th.
Several other equities analysts have also recently commented on OLED. Roth Capital initiated coverage on shares of Universal Display in a research report on Monday, May 21st. They set a buy rating and a $136.00 target price on the stock. ValuEngine raised shares of Universal Display from a sell rating to a hold rating in a research report on Tuesday, May 29th. Goldman Sachs Group set a $150.00 price target on shares of Universal Display and gave the stock a buy rating in a report on Tuesday, May 29th. Needham & Company LLC lifted their price target on shares of Universal Display from $130.00 to $145.00 and gave the stock a buy rating in a report on Friday, August 10th. Finally, Zacks Investment Research raised shares of Universal Display from a sell rating to a hold rating in a report on Saturday, August 11th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Universal Display has a consensus rating of Buy and a consensus price target of $167.58.
Shares of Universal Display stock traded down $5.21 during mid-day trading on Friday, hitting $116.95. 909,064 shares of the stock were exchanged, compared to its average volume of 1,327,349. Universal Display has a 12 month low of $78.75 and a 12 month high of $209.00. The stock has a market cap of $5.55 billion, a P/E ratio of 48.13 and a beta of 1.81.
Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, August 9th. The semiconductor company reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.08. Universal Display had a net margin of 22.76% and a return on equity of 11.59%. The firm had revenue of $56.15 million for the quarter, compared to analysts’ expectations of $49.64 million. During the same quarter last year, the firm earned $0.99 EPS. The company’s quarterly revenue was down 45.2% compared to the same quarter last year. As a group, sell-side analysts expect that Universal Display will post 1.83 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Saturday, September 15th were issued a dividend of $0.06 per share. The ex-dividend date was Thursday, September 13th. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. Universal Display’s payout ratio is 9.88%.
In other Universal Display news, Director Lawrence Lacerte sold 15,000 shares of the business’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $119.51, for a total transaction of $1,792,650.00. Following the sale, the director now owns 348,950 shares of the company’s stock, valued at approximately $41,703,014.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Mauro Premutico sold 10,044 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $123.63, for a total transaction of $1,241,739.72. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Summit X LLC grew its position in shares of Universal Display by 11.1% during the 2nd quarter. Summit X LLC now owns 17,013 shares of the semiconductor company’s stock valued at $1,463,000 after purchasing an additional 1,702 shares in the last quarter. Royal London Asset Management Ltd. purchased a new position in shares of Universal Display during the 2nd quarter valued at $2,352,000. Northern Trust Corp grew its position in shares of Universal Display by 5.5% during the 2nd quarter. Northern Trust Corp now owns 233,576 shares of the semiconductor company’s stock valued at $20,088,000 after purchasing an additional 12,187 shares in the last quarter. Chicago Partners Investment Group LLC grew its position in shares of Universal Display by 2,258.1% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 6,862 shares of the semiconductor company’s stock valued at $590,000 after purchasing an additional 6,571 shares in the last quarter. Finally, Schroder Investment Management Group purchased a new position in shares of Universal Display during the 2nd quarter valued at $10,375,000. Hedge funds and other institutional investors own 72.63% of the company’s stock.
Universal Display Company Profile
Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in flat panel displays and solid-state lighting applications. As of February 22, 2018, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 4,500 issued and pending patents worldwide.
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