Susquehanna Bancshares restated their negative rating on shares of Universal Display (NASDAQ:OLED) in a research report sent to investors on Thursday, The Fly reports.
Several other research firms have also recently weighed in on OLED. Berenberg Bank initiated coverage on Universal Display in a report on Wednesday, July 24th. They set a hold rating and a $192.00 price target for the company. Citigroup lifted their price target on Universal Display from $180.00 to $223.00 and gave the stock a neutral rating in a report on Friday, August 2nd. BidaskClub cut Universal Display from a strong-buy rating to a buy rating in a report on Sunday, August 18th. Deutsche Bank set a $230.00 price target on Universal Display and gave the stock a buy rating in a report on Friday, August 16th. Finally, Oppenheimer cut Universal Display from an outperform rating to a market perform rating and set a $190.50 price target for the company. in a report on Wednesday, July 10th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. Universal Display presently has a consensus rating of Hold and an average target price of $183.29.
NASDAQ:OLED opened at $180.73 on Thursday. The stock has a market cap of $8.64 billion, a P/E ratio of 145.75, a PEG ratio of 2.28 and a beta of 1.53. The stock has a 50 day simple moving average of $208.99 and a 200 day simple moving average of $178.48. Universal Display has a 1-year low of $78.78 and a 1-year high of $230.32.
Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.46. The business had revenue of $118.17 million during 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 revenue for the quarter was up 110.5% compared to the same quarter last year. During the same period last year, the firm posted $0.23 EPS. As a group, equities research analysts predict that Universal Display will post 2.68 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.10 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.40 annualized dividend and a yield of 0.22%. Universal Display’s dividend payout ratio is presently 32.26%.
In other Universal Display news, CEO Steven V. Abramson sold 31,182 shares of Universal Display stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 146,493 shares of the company’s stock, valued at approximately $32,524,375.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sidney D. Rosenblatt sold 33,930 shares of Universal Display stock in a transaction on 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 a total of 194,907 shares of company stock valued at $39,103,772 over the last ninety days. Insiders own 3.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Primecap Management Co. CA raised its holdings in Universal Display by 1.2% in the 1st quarter. Primecap Management Co. CA now owns 4,768,412 shares of the semiconductor company’s stock valued at $728,852,000 after acquiring an additional 55,493 shares in the last quarter. BlackRock Inc. raised its holdings in Universal Display by 0.6% in the 2nd quarter. BlackRock Inc. now owns 3,823,204 shares of the semiconductor company’s stock valued at $718,991,000 after acquiring an additional 23,953 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in Universal Display by 1.4% in the 1st quarter. Neuberger Berman Group LLC now owns 1,357,193 shares of the semiconductor company’s stock valued at $207,447,000 after acquiring an additional 19,187 shares in the last quarter. Griffin Asset Management Inc. raised its holdings in Universal Display by 24.5% in the 2nd quarter. Griffin Asset Management Inc. now owns 618,209 shares of the semiconductor company’s stock valued at $116,260,000 after acquiring an additional 121,475 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Universal Display by 8.1% in the 4th quarter. Geode Capital Management LLC now owns 431,907 shares of the semiconductor company’s stock valued at $40,413,000 after acquiring an additional 32,314 shares in the last quarter. 69.00% of the stock is 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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