Universal Display Corporation (NASDAQ:OLED – Get Free Report) saw unusually large options trading on Friday. Stock investors purchased 4,769 call options on the company. This represents an increase of approximately 407% compared to the average daily volume of 940 call options.
Analyst Upgrades and Downgrades
OLED has been the topic of several recent research reports. Zacks Research raised shares of Universal Display from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. Weiss Ratings cut shares of Universal Display from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Citigroup cut shares of Universal Display from a “neutral” rating to a “sell” rating and decreased their target price for the company from $85.00 to $71.00 in a research note on Thursday, October 8th. Oppenheimer reissued an “outperform” rating and set a $120.00 price target (down from $130.00) on shares of Universal Display in a report on Friday, July 31st. Finally, Needham & Company LLC dropped their target price on Universal Display from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $114.00.
Get Our Latest Stock Analysis on OLED
Universal Display Stock Performance
Shares of OLED traded down $0.79 during mid-day trading on Friday, hitting $77.62. 445,777 shares of the company were exchanged, compared to its average volume of 790,636. The company has a 50 day moving average of $81.50 and a 200-day moving average of $86.23. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of 18.80 and a beta of 1.53. Universal Display has a 1-year low of $70.77 and a 1-year high of $153.38.
Universal Display (NASDAQ:OLED – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $1.06 EPS for the quarter, beating the consensus estimate of $1.03 by $0.03. Universal Display had a return on equity of 11.35% and a net margin of 32.24%. The firm had revenue of $152.16 million during the quarter, compared to the consensus estimate of $157.54 million. During the same period in the prior year, the company earned $1.41 EPS. The firm’s revenue was down 11.4% compared to the same quarter last year. Research analysts anticipate that Universal Display will post 4.17 earnings per share for the current fiscal year.
Universal Display Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Wednesday, September 16th. Universal Display’s payout ratio is 48.43%.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the company. State of Michigan Retirement System grew its holdings in Universal Display by 1.9% during the 1st quarter. State of Michigan Retirement System now owns 10,605 shares of the semiconductor company’s stock valued at $972,000 after buying an additional 200 shares in the last quarter. Lido Advisors LLC grew its holdings in shares of Universal Display by 5.1% in the first quarter. Lido Advisors LLC now owns 6,081 shares of the semiconductor company’s stock valued at $557,000 after purchasing an additional 296 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in Universal Display by 3.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 9,083 shares of the semiconductor company’s stock worth $833,000 after purchasing an additional 300 shares during the last quarter. Swiss National Bank increased its position in Universal Display by 0.3% in the first quarter. Swiss National Bank now owns 89,400 shares of the semiconductor company’s stock worth $8,194,000 after purchasing an additional 300 shares during the last quarter. Finally, Money Concepts Capital Corp raised its stake in Universal Display by 2.1% during the first quarter. Money Concepts Capital Corp now owns 14,902 shares of the semiconductor company’s stock valued at $1,366,000 after purchasing an additional 303 shares in the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.
About Universal Display
Universal Display Corporation develops and commercializes technologies and materials used in organic light-emitting diode (OLED) displays and lighting. The company’s portfolio includes phosphorescent OLED (PHOLED) technologies, which are designed to improve display efficiency, as well as OLED material systems and related technologies.
Universal Display generates revenue primarily through licensing its OLED intellectual property and selling OLED materials, including phosphorescent emitter materials and related products.
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