Zacks Investment Research upgraded shares of Universal Display Corporation (NASDAQ:OLED) from a hold rating to a buy rating in a research note released on Wednesday morning. The firm currently has $198.00 target price on the semiconductor company’s stock.
According to Zacks, “Universal Display Corporation is located in the Princeton Crossroads Corporate Center in Ewing, New Jersey, minutes away from its research partner at Princeton University. Universal Display’s state-of-the-art facility is designed to further technology and materials development, technology transfer to manufacturing partners and work with customers to develop OLED products that meet their needs. “
Several other research analysts have also commented on OLED. Summit Redstone reissued a hold rating and set a $95.00 price objective on shares of Universal Display Corporation in a report on Tuesday, August 1st. Cowen and Company reissued an outperform rating and set a $130.00 price objective on shares of Universal Display Corporation in a report on Tuesday, August 1st. Susquehanna Bancshares Inc reissued a positive rating and set a $150.00 price objective (up previously from $120.00) on shares of Universal Display Corporation in a report on Wednesday, August 9th. The Goldman Sachs Group, Inc. reissued a buy rating and set a $150.00 price objective (up previously from $140.00) on shares of Universal Display Corporation in a report on Wednesday, August 9th. Finally, Oppenheimer Holdings, Inc. reissued a market perform rating on shares of Universal Display Corporation in a report on Wednesday, August 9th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of Hold and an average price target of $143.11.
Shares of Universal Display Corporation (NASDAQ:OLED) traded up $1.75 during midday trading on Wednesday, hitting $181.00. The stock had a trading volume of 684,361 shares, compared to its average volume of 822,172. Universal Display Corporation has a 52 week low of $52.10 and a 52 week high of $182.65. The stock has a market capitalization of $8,510.00, a price-to-earnings ratio of 86.99 and a beta of 1.03.
Universal Display Corporation (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.19. Universal Display Corporation had a return on equity of 16.67% and a net margin of 32.92%. The company had revenue of $61.70 million during the quarter, compared to analyst estimates of $47.35 million. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. Universal Display Corporation’s revenue was up 104.3% on a year-over-year basis. sell-side analysts predict that Universal Display Corporation will post 2.33 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.07%. The ex-dividend date is Thursday, December 14th. Universal Display Corporation’s dividend payout ratio is currently 5.74%.
In other news, insider Julia J. Brown sold 10,000 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the insider now owns 152,932 shares of the company’s stock, valued at $22,939,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Sidney D. Rosenblatt sold 50,240 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $135.02, for a total value of $6,783,404.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 196,974 shares of company stock valued at $30,133,174. 5.20% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in OLED. Mitra Capital LLC purchased a new stake in shares of Universal Display Corporation during the second quarter valued at approximately $109,000. IFP Advisors Inc boosted its stake in shares of Universal Display Corporation by 307.5% during the second quarter. IFP Advisors Inc now owns 1,080 shares of the semiconductor company’s stock valued at $118,000 after purchasing an additional 815 shares during the period. BNP Paribas Arbitrage SA boosted its stake in shares of Universal Display Corporation by 79.4% during the second quarter. BNP Paribas Arbitrage SA now owns 1,536 shares of the semiconductor company’s stock valued at $168,000 after purchasing an additional 680 shares during the period. Daiwa Securities Group Inc. purchased a new stake in shares of Universal Display Corporation during the second quarter valued at approximately $197,000. Finally, CIBC Asset Management Inc purchased a new stake in shares of Universal Display Corporation during the third quarter valued at approximately $205,000. 64.20% of the stock is owned by hedge funds and other institutional investors.
Universal Display Corporation Company Profile
Universal Display Corporation is engaged in the research, development and commercialization of organic light emitting diode (OLED), technologies and materials for use in display and solid-state lighting applications. The Company also supplies its OLED materials to manufacturers of OLED displays and lighting products for evaluation and for use in product development and for pre-commercial activities, and it also provides technical assistance and support to these manufacturers.
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