Universal Display’s (OLED) Negative Rating Reaffirmed at Susquehanna Bancshares

Susquehanna Bancshares reiterated their negative rating on shares of Universal Display (NASDAQ:OLED) in a research report released on Thursday, The Fly reports.

A number of other equities analysts have also commented on the stock. Citigroup raised their price objective on shares of Universal Display from $180.00 to $223.00 and gave the company a neutral rating in a research report on Friday, August 2nd. ValuEngine lowered shares of Universal Display from a strong-buy rating to a buy rating in a research report on Friday, August 2nd. Deutsche Bank set a $230.00 price objective on shares of Universal Display and gave the company a buy rating in a research report on Friday, August 16th. Berenberg Bank began coverage on shares of Universal Display in a research report on Wednesday, July 24th. They issued a hold rating and a $192.00 price objective for the company. Finally, Roth Capital raised their price objective on shares of Universal Display from $172.00 to $206.00 and gave the company a neutral rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $183.29.

Shares of OLED stock traded down $2.85 during trading hours on Thursday, reaching $180.64. The stock had a trading volume of 51,659 shares, compared to its average volume of 594,457. The stock’s fifty day simple moving average is $209.64 and its 200 day simple moving average is $178.29. Universal Display has a 12 month low of $78.78 and a 12 month high of $230.32. The firm has a market capitalization of $8.96 billion, a PE ratio of 145.75, a PEG ratio of 2.36 and a beta of 1.53.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.46. Universal Display had a net margin of 33.08% and a return on equity of 16.52%. The company had revenue of $118.17 million during the quarter, compared to analyst estimates of $79.26 million. During the same period last year, the business earned $0.23 earnings per share. Universal Display’s revenue was up 110.5% compared to the same quarter last year. As a group, equities analysts expect that Universal Display will post 2.68 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date is Friday, September 13th. Universal Display’s dividend payout ratio is currently 32.26%.

In related news, insider Steven V. Abramson sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $179.64, for a total value of $5,389,200.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Julia J. Brown sold 25,477 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $200.00, for a total transaction of $5,095,400.00. The disclosure for this sale can be found here. Insiders sold 194,907 shares of company stock worth $39,103,772 over the last ninety days. 3.70% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Meridian Wealth Management LLC purchased a new position in shares of Universal Display during the first quarter worth approximately $31,000. TCI Wealth Advisors Inc. raised its stake in shares of Universal Display by 1,458.3% during the second quarter. TCI Wealth Advisors Inc. now owns 187 shares of the semiconductor company’s stock worth $35,000 after acquiring an additional 175 shares in the last quarter. HM Payson & Co. purchased a new position in shares of Universal Display during the second quarter worth approximately $38,000. Weaver Consulting Group purchased a new position in shares of Universal Display during the first quarter worth approximately $39,000. Finally, Capital Investment Advisory Services LLC raised its stake in shares of Universal Display by 94.0% during the second quarter. Capital Investment Advisory Services LLC now owns 194 shares of the semiconductor company’s stock worth $40,000 after acquiring an additional 94 shares in the last quarter. 69.34% of the stock is currently owned by institutional investors and hedge funds.

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 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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