Susquehanna Bancshares reissued their negative rating on shares of Universal Display (NASDAQ:OLED) in a research note released on Thursday, The Fly reports.
OLED has been the topic of several other research reports. Needham & Company LLC cut Universal Display from a buy rating to a hold rating in a report on Friday, August 2nd. Citigroup raised their price target on Universal Display from $180.00 to $223.00 and gave the company a neutral rating in a report on Friday, August 2nd. Oppenheimer cut Universal Display from an outperform rating to a market perform rating and set a $190.50 price target on the stock. in a report on Wednesday, July 10th. They noted that the move was a valuation call. Berenberg Bank started coverage on Universal Display in a report on Wednesday, July 24th. They issued a hold rating and a $192.00 price target on the stock. Finally, Deutsche Bank set a $230.00 price target on Universal Display and gave the company a buy rating in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. The company presently has an average rating of Hold and an average price target of $183.29.
Universal Display stock opened at $180.73 on Thursday. The business’s 50-day simple moving average is $208.99 and its 200 day simple moving average is $178.48. The stock has a market cap of $8.64 billion, a price-to-earnings ratio of 145.75, a P/E/G ratio of 2.28 and a beta of 1.53. Universal Display has a 12-month low of $78.78 and a 12-month high of $230.32.
Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.46. The business had revenue of $118.17 million for the quarter, compared to analysts’ expectations of $79.26 million. Universal Display had a return on equity of 16.52% and a net margin of 33.08%. The firm’s quarterly revenue was up 110.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.23 earnings per share. Research analysts predict that Universal Display will post 2.68 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.22%. The ex-dividend date is Friday, September 13th. Universal Display’s payout ratio is 32.26%.
In other Universal Display news, CEO Steven V. Abramson sold 31,182 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $222.02, for a total value of $6,923,027.64. Following the transaction, the chief executive officer now owns 146,493 shares of the company’s stock, valued at $32,524,375.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Sidney D. Rosenblatt sold 33,930 shares of the stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $182.23, for a total value of $6,183,063.90. The disclosure for this sale can be found here. Insiders sold 194,907 shares of company stock worth $39,103,772 in the last three months. Insiders own 3.70% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Meridian Wealth Management LLC acquired a new stake in shares of Universal Display during the first quarter worth about $31,000. TCI Wealth Advisors Inc. raised its position 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 purchasing an additional 175 shares during the period. HM Payson & Co. acquired a new stake in shares of Universal Display during the second quarter worth about $38,000. Weaver Consulting Group acquired a new stake in shares of Universal Display during the first quarter worth about $39,000. Finally, Capital Investment Advisory Services LLC raised its position 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 purchasing an additional 94 shares during the period. 69.00% of the stock is currently owned by hedge funds and other institutional investors.
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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