BidaskClub upgraded shares of Universal Display (NASDAQ:OLED) from a hold rating to a buy rating in a report published on Thursday.
Several other equities research analysts have also recently weighed in on OLED. Oppenheimer increased their target price on shares of Universal Display from $120.00 to $140.00 and gave the company an outperform rating in a research note on Tuesday, September 25th. ValuEngine upgraded shares of Universal Display from a sell rating to a hold rating in a research note on Tuesday, July 10th. CIBC increased their target price on shares of Universal Display from $120.00 to $140.00 and gave the company an outperform rating in a research note on Tuesday, September 25th. Zacks Investment Research upgraded shares of Universal Display from a sell rating to a hold rating in a research note on Saturday, August 11th. Finally, Citigroup began coverage on shares of Universal Display in a research note on Tuesday, September 4th. They issued a buy rating and a $153.00 target price for the company. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of Buy and an average price target of $167.58.
Shares of NASDAQ:OLED opened at $116.95 on Thursday. The stock has a market capitalization of $5.55 billion, a PE ratio of 48.13 and a beta of 1.81. Universal Display has a 52-week low of $78.75 and a 52-week high of $209.00.
Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, August 9th. The semiconductor company reported $0.23 earnings per share for the quarter, beating 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 business had revenue of $56.15 million during the quarter, compared to analysts’ expectations of $49.64 million. During the same quarter last year, the company earned $0.99 earnings per share. The firm’s revenue was down 45.2% on a year-over-year basis. Sell-side analysts predict that Universal Display will post 1.83 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Saturday, September 15th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date of this dividend was Thursday, September 13th. Universal Display’s dividend payout ratio is 9.88%.
In other Universal Display news, VP Mauro Premutico sold 10,044 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $123.63, for a total transaction of $1,241,739.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lawrence Lacerte sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $119.51, for a total transaction of $1,792,650.00. Following the transaction, the director now owns 348,950 shares of the company’s stock, valued at approximately $41,703,014.50. The disclosure for this sale can be found here. 4.00% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Assetmark Inc. lifted its stake in Universal Display by 187.9% during the first quarter. Assetmark Inc. now owns 996 shares of the semiconductor company’s stock worth $101,000 after purchasing an additional 650 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in Universal Display by 46.5% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,866 shares of the semiconductor company’s stock worth $160,000 after purchasing an additional 592 shares during the period. US Bancorp DE lifted its stake in Universal Display by 125.0% during the first quarter. US Bancorp DE now owns 1,640 shares of the semiconductor company’s stock worth $165,000 after purchasing an additional 911 shares during the period. Advisors Asset Management Inc. lifted its stake in Universal Display by 4,030.0% during the second quarter. Advisors Asset Management Inc. now owns 190,683 shares of the semiconductor company’s stock worth $192,000 after purchasing an additional 186,066 shares during the period. Finally, Cornercap Investment Counsel Inc. bought a new position in Universal Display during the first quarter worth about $202,000. 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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