Universal Display (OLED) Given Outperform Rating at Cowen

Cowen restated their outperform rating on shares of Universal Display (NASDAQ:OLED) in a report released on Friday, November 10th, The Fly reports. The brokerage currently has a $195.00 price objective on the semiconductor company’s stock, up from their previous price objective of $155.00.

A number of other analysts have also commented on OLED. Goldman Sachs Group reaffirmed a buy rating and set a $150.00 price objective (up from $140.00) on shares of Universal Display in a research note on Wednesday, August 9th. Susquehanna Bancshares reaffirmed a positive rating and set a $150.00 price objective (up from $120.00) on shares of Universal Display in a research note on Wednesday, August 9th. Summit Redstone reiterated a hold rating and issued a $95.00 target price on shares of Universal Display in a report on Tuesday, August 1st. Oppenheimer reiterated a market perform rating on shares of Universal Display in a report on Wednesday, August 9th. Finally, BidaskClub downgraded Universal Display from a hold rating to a sell rating in a report on Saturday, August 12th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $143.11.

Shares of Universal Display (NASDAQ:OLED) traded down $6.35 during midday trading on Friday, reaching $179.65. 1,971,800 shares of the company’s stock were exchanged, compared to its average volume of 825,838. Universal Display has a 52 week low of $52.10 and a 52 week high of $192.75. The firm has a market cap of $8,740.00, a P/E ratio of 93.60 and a beta of 1.03.

Universal Display (NASDAQ:OLED) last issued its quarterly 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 had a net margin of 32.92% and a return on equity of 16.67%. The company had revenue of $61.70 million during the quarter, compared to the consensus estimate of $47.35 million. During the same period in the prior year, the company earned ($0.03) EPS. Universal Display’s revenue was up 104.3% on a year-over-year basis. equities analysts anticipate that Universal Display will post 2.33 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.07%. Universal Display’s dividend payout ratio (DPR) is presently 5.74%.

In related news, CFO Sidney D. Rosenblatt sold 50,240 shares of Universal Display stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $135.02, for a total value of $6,783,404.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Sherwin I. Seligsohn sold 50,000 shares of Universal Display stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $150.00, for a total value of $7,500,000.00. Following the completion of the sale, the chairman now owns 205,170 shares of the company’s stock, valued at $30,775,500. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 196,974 shares of company stock valued at $30,133,174. 5.20% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Mitra Capital LLC bought a new position in Universal Display during the second quarter worth about $109,000. IFP Advisors Inc boosted its holdings in Universal Display by 307.5% during the second quarter. IFP Advisors Inc now owns 1,080 shares of the semiconductor company’s stock worth $118,000 after buying an additional 815 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Universal Display by 79.4% during the second 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 during the last quarter. Daiwa Securities Group Inc. bought a new position in Universal Display during the second quarter worth about $197,000. Finally, CIBC Asset Management Inc bought a new position in Universal Display during the third quarter worth about $205,000. Hedge funds and other institutional investors own 64.96% of the company’s stock.

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About Universal Display

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.

The Fly

Analyst Recommendations for Universal Display (NASDAQ:OLED)

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