Oppenheimer downgraded shares of Universal Display (NASDAQ:OLED) from an outperform rating to a market perform rating in a research report released on Wednesday morning, Briefing.com Automated Import reports. The firm currently has $190.50 price objective on the semiconductor company’s stock. The analysts noted that the move was a valuation call.
Other equities analysts also recently issued reports about the company. Needham & Company LLC reiterated a buy rating and set a $200.00 target price (up from $140.00) on shares of Universal Display in a research report on Friday, May 3rd. Susquehanna Bancshares reiterated a neutral rating and set a $180.00 target price on shares of Universal Display in a research report on Monday, April 29th. Citigroup reiterated a buy rating on shares of Healthequity in a research report on Friday, May 10th. Zacks Investment Research downgraded GenMark Diagnostics from a hold rating to a sell rating in a research report on Wednesday, April 24th. Finally, Roth Capital set a $194.00 target price on Universal Display and gave the stock a buy rating in a research report on Friday, May 3rd. Five analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Universal Display presently has a consensus rating of Buy and a consensus price target of $167.31.
Shares of NASDAQ:OLED traded up $0.95 on Wednesday, hitting $195.15. The company had a trading volume of 476,772 shares, compared to its average volume of 773,987. Universal Display has a 52-week low of $78.78 and a 52-week high of $198.86. The business has a 50 day moving average of $172.38. The firm has a market capitalization of $9.17 billion, a P/E ratio of 157.38, a PEG ratio of 2.60 and a beta of 1.54.
Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.40. Universal Display had a return on equity of 12.35% and a net margin of 28.93%. The business had revenue of $87.80 million for the quarter, compared to the consensus estimate of $64.59 million. During the same period in the prior year, the business earned $0.13 earnings per share. The business’s revenue was up 101.4% on a year-over-year basis. Research analysts anticipate that Universal Display will post 2.44 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $0.10 per share. 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%.
In related news, CFO Sidney D. Rosenblatt sold 33,930 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $182.23, for a total transaction of $6,183,063.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Rosemarie B. Greco sold 4,425 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $171.13, for a total value of $757,250.25. Following the completion of the transaction, the director now owns 6,793 shares in the company, valued at $1,162,486.09. The disclosure for this sale can be found here. Insiders have sold 110,750 shares of company stock worth $19,581,068 over the last quarter. 3.70% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in OLED. Meridian Wealth Management LLC purchased a new position in shares of Universal Display in the 1st quarter worth about $31,000. Sontag Advisory LLC acquired a new stake in shares of Universal Display in the fourth quarter valued at about $37,000. Weaver Consulting Group acquired a new stake in shares of Universal Display in the first quarter valued at about $39,000. Regal Investment Advisors LLC acquired a new stake in shares of Universal Display in the first quarter valued at about $50,000. Finally, Pearl River Capital LLC grew its stake in shares of Universal Display by 251.4% in the first quarter. Pearl River Capital LLC now owns 390 shares of the semiconductor company’s stock valued at $60,000 after buying an additional 279 shares in the last quarter. Institutional investors own 75.96% 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 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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