ValuEngine Lowers Universal Display (OLED) to Hold

ValuEngine cut shares of Universal Display (NASDAQ:OLED) from a buy rating to a hold rating in a report issued on Monday, February 4th.

A number of other equities analysts have also issued reports on the company. Zacks Investment Research lowered Universal Display from a hold rating to a sell rating in a report on Thursday, January 24th. Oppenheimer lowered their price target on Universal Display from $120.00 to $115.00 and set an outperform rating on the stock in a report on Wednesday, January 23rd. BidaskClub raised Universal Display from a hold rating to a buy rating in a report on Thursday, January 17th. Needham & Company LLC reissued a buy rating and set a $105.00 price target (down previously from $125.00) on shares of Universal Display in a report on Friday, January 4th. Finally, Goldman Sachs Group reissued a buy rating on shares of Universal Display in a report on Wednesday, November 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $146.00.

Shares of OLED stock opened at $152.38 on Monday. The stock has a market cap of $6.87 billion, a price-to-earnings ratio of 122.89, a PEG ratio of 2.46 and a beta of 1.29. Universal Display has a 1 year low of $78.75 and a 1 year high of $152.97.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, February 21st. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.06. The company had revenue of $70.14 million for the quarter, compared to analyst estimates of $70.18 million. Universal Display had a return on equity of 8.97% and a net margin of 23.78%. The business’s quarterly revenue was down 39.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.93 earnings per share. As a group, sell-side analysts forecast that Universal Display will post 2.17 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend is Thursday, March 14th. This is a positive change from Universal Display’s previous quarterly dividend of $0.06. Universal Display’s payout ratio is currently 19.35%.

In other Universal Display news, Director Lawrence Lacerte sold 6,250 shares of Universal Display stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $145.52, for a total value of $909,500.00. Following the sale, the director now owns 325,000 shares of the company’s stock, valued at approximately $47,294,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.00% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its position in shares of Universal Display by 32.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,849 shares of the semiconductor company’s stock valued at $690,000 after acquiring an additional 1,417 shares during the period. Zweig DiMenna Associates LLC lifted its position in shares of Universal Display by 125.0% during the 3rd quarter. Zweig DiMenna Associates LLC now owns 66,873 shares of the semiconductor company’s stock valued at $7,884,000 after acquiring an additional 37,158 shares during the period. M&T Bank Corp lifted its position in shares of Universal Display by 52.1% during the 4th quarter. M&T Bank Corp now owns 5,347 shares of the semiconductor company’s stock valued at $499,000 after acquiring an additional 1,831 shares during the period. BlackRock Inc. lifted its position in shares of Universal Display by 0.7% during the 3rd quarter. BlackRock Inc. now owns 1,800,372 shares of the semiconductor company’s stock valued at $212,264,000 after acquiring an additional 13,294 shares during the period. Finally, Scout Investments Inc. acquired a new stake in shares of Universal Display during the 3rd quarter valued at approximately $22,394,000. Institutional investors own 84.15% of the company’s stock.

About Universal Display

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.

Further Reading: Intrinsic Value

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Universal Display (NASDAQ:OLED)

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