Universal Display Co. (NASDAQ:OLED) Short Interest Update

Universal Display Co. (NASDAQ:OLED) saw a large decrease in short interest during the month of June. As of June 30th, there was short interest totalling 2,508,300 shares, a decrease of 30.4% from the May 30th total of 3,603,400 shares. Based on an average daily trading volume, of 715,700 shares, the days-to-cover ratio is presently 3.5 days. Currently, 5.9% of the company’s shares are sold short.

In related news, CFO Sidney D. Rosenblatt sold 33,930 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $182.23, for a total transaction of $6,183,063.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Steven V. Abramson sold 30,000 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $179.64, for a total transaction of $5,389,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 110,750 shares of company stock valued at $19,581,068 over the last quarter. 3.70% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. grew its position in shares of Universal Display by 14.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,671 shares of the semiconductor company’s stock worth $625,000 after buying an additional 822 shares during the period. California State Teachers Retirement System grew its position in shares of Universal Display by 2.3% in the 4th quarter. California State Teachers Retirement System now owns 67,016 shares of the semiconductor company’s stock worth $6,271,000 after buying an additional 1,538 shares during the period. EP Wealth Advisors LLC purchased a new stake in shares of Universal Display in the 1st quarter worth about $317,000. Geode Capital Management LLC grew its position in shares of Universal Display by 8.1% in the 4th quarter. Geode Capital Management LLC now owns 431,907 shares of the semiconductor company’s stock worth $40,413,000 after buying an additional 32,314 shares during the period. Finally, Sontag Advisory LLC purchased a new stake in shares of Universal Display in the 4th quarter worth about $37,000. Institutional investors and hedge funds own 75.96% of the company’s stock.

NASDAQ OLED traded up $4.47 during trading on Friday, hitting $199.62. The company had a trading volume of 816,934 shares, compared to its average volume of 774,514. Universal Display has a one year low of $78.78 and a one year high of $201.23. The firm has a market capitalization of $9.42 billion, a P/E ratio of 160.98, a price-to-earnings-growth ratio of 2.65 and a beta of 1.55. The stock has a fifty day simple moving average of $172.38.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported $0.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.40. Universal Display had a net margin of 28.93% and a return on equity of 12.35%. The business had revenue of $87.80 million during the quarter, compared to analyst estimates of $64.59 million. During the same period in the prior year, the business earned $0.13 EPS. The company’s revenue for the quarter was up 101.4% on a year-over-year basis. Equities analysts expect that Universal Display will post 2.44 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.10 dividend. The ex-dividend date was Thursday, June 13th. This represents a $0.40 annualized dividend and a yield of 0.20%. Universal Display’s dividend payout ratio (DPR) is presently 32.26%.

A number of research firms recently commented on OLED. Oppenheimer upped their price target on shares of Costco Wholesale from $270.00 to $295.00 in a report on Wednesday. Needham & Company LLC upped their price target on shares of Universal Display from $200.00 to $210.00 and gave the company a “buy” rating in a report on Friday. Roth Capital set a $194.00 price target on shares of Universal Display and gave the company a “buy” rating in a report on Friday, May 3rd. Susquehanna Bancshares restated a “neutral” rating and issued a $180.00 price objective on shares of Universal Display in a report on Monday, April 29th. Finally, Citigroup restated a “buy” rating on shares of Healthequity in a report on Friday, May 10th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $168.22.

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 21, 2019, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 5,000 issued and pending patents worldwide.

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