Universal Display Co. (NASDAQ:OLED) Short Interest Update

Universal Display Co. (NASDAQ:OLED) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 1,050,000 shares, a growth of 21.9% from the July 15th total of 861,100 shares. Based on an average trading volume of 390,000 shares, the short-interest ratio is presently 2.7 days. Approximately 2.4% of the shares of the stock are sold short.

Hedge Funds Weigh In On Universal Display

Several hedge funds have recently bought and sold shares of OLED. Benjamin F. Edwards & Company Inc. acquired a new position in Universal Display during the fourth quarter worth $25,000. ORG Partners LLC acquired a new position in Universal Display during the first quarter worth $27,000. Principal Securities Inc. acquired a new position in Universal Display during the fourth quarter worth $34,000. Tsfg LLC acquired a new position in Universal Display during the first quarter worth $34,000. Finally, University of Texas Texas AM Investment Managment Co. acquired a new position in Universal Display during the fourth quarter worth $35,000. 78.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Oppenheimer increased their price objective on Universal Display from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, July 3rd. Susquehanna increased their price objective on Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. TD Cowen increased their price objective on Universal Display from $210.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Roth Mkm increased their price objective on Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Needham & Company LLC increased their price objective on Universal Display from $198.00 to $242.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $225.88.

Universal Display Stock Performance

Shares of NASDAQ:OLED traded up $1.73 during midday trading on Friday, hitting $189.35. 260,975 shares of the stock were exchanged, compared to its average volume of 335,222. Universal Display has a 52-week low of $133.67 and a 52-week high of $237.00. The business’s fifty day simple moving average is $206.22 and its two-hundred day simple moving average is $182.46. The company has a market capitalization of $8.98 billion, a PE ratio of 41.16, a P/E/G ratio of 1.92 and a beta of 1.42.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.04). Universal Display had a return on equity of 15.25% and a net margin of 35.74%. The firm had revenue of $158.50 million for the quarter, compared to analysts’ expectations of $159.46 million. During the same quarter in the prior year, the business posted $1.04 earnings per share. Universal Display’s revenue was up 8.1% on a year-over-year basis. As a group, equities analysts anticipate that Universal Display will post 4.79 EPS for the current year.

Universal Display Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.84%. The ex-dividend date is Monday, September 16th. Universal Display’s payout ratio is 34.78%.

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 display and solid-state lighting applications in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.