Zacks Investment Research lowered shares of Universal Display Corporation (NASDAQ:OLED) from a strong-buy rating to a hold rating in a research note published on Tuesday, October 17th.
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 issued reports on OLED. Goldman Sachs Group, Inc. (The) reaffirmed a buy rating and set a $150.00 target price (up from $140.00) on shares of Universal Display Corporation in a research report on Wednesday, August 9th. Susquehanna Bancshares Inc reiterated a positive rating and set a $150.00 price target (up previously from $120.00) on shares of Universal Display Corporation in a research note on Wednesday, August 9th. Summit Redstone reaffirmed a hold rating and issued a $95.00 price target on shares of Universal Display Corporation in a report on Tuesday, August 1st. Oppenheimer Holdings, Inc. reissued a market perform rating on shares of Universal Display Corporation in a report on Wednesday, August 9th. Finally, BidaskClub lowered shares of Universal Display Corporation from a hold rating to a sell rating in a research report on Saturday, August 12th. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Universal Display Corporation currently has a consensus rating of Buy and a consensus price target of $134.78.
Universal Display Corporation (NASDAQ:OLED) traded up $4.90 during trading hours on Tuesday, reaching $163.00. The company’s stock had a trading volume of 917,107 shares, compared to its average volume of 858,137. The company has a market capitalization of $7,437.12, a price-to-earnings ratio of 77.50 and a beta of 1.03. Universal Display Corporation has a 12-month low of $50.55 and a 12-month high of $160.95.
Universal Display Corporation (NASDAQ:OLED) last issued its earnings results on Thursday, November 2nd. The semiconductor company reported $0.28 earnings per share for the quarter, beating the Zacks’ 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 firm had revenue of $61.70 million for the quarter, compared to the consensus estimate of $47.35 million. During the same quarter last year, the business posted ($0.03) EPS. The company’s revenue was up 104.3% compared to the same quarter last year. equities analysts anticipate that Universal Display Corporation will post 2.27 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.12 annualized dividend and a dividend yield of 0.07%. Universal Display Corporation’s payout ratio is 5.88%.
In other Universal Display Corporation news, CFO Sidney D. Rosenblatt sold 50,240 shares of Universal Display Corporation stock in a transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 5.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in OLED. Mitra Capital LLC bought a new stake in Universal Display Corporation in the 2nd quarter valued at $109,000. IFP Advisors Inc grew its stake in shares of Universal Display Corporation by 307.5% in the 2nd quarter. IFP Advisors Inc now owns 1,080 shares of the semiconductor company’s stock worth $118,000 after buying an additional 815 shares in the last quarter. FNY Partners Fund LP purchased a new position in shares of Universal Display Corporation in the 1st quarter worth $146,000. Invictus RG purchased a new position in shares of Universal Display Corporation in the 1st quarter worth $152,000. Finally, BNP Paribas Arbitrage SA grew its stake in shares of Universal Display Corporation by 79.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,536 shares of the semiconductor company’s stock worth $168,000 after buying an additional 680 shares in the last quarter. Institutional investors own 63.97% of the company’s stock.
About Universal Display Corporation
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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