Zacks Investment Research lowered shares of Universal Display Corporation (NASDAQ:OLED) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday morning.
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. “
A number of other brokerages have also recently commented on OLED. BidaskClub upgraded shares of Universal Display Corporation from a buy rating to a strong-buy rating in a research report on Friday, June 9th. Susquehanna Bancshares Inc reiterated a positive rating on shares of Universal Display Corporation in a research report on Thursday, July 13th. Needham & Company LLC reiterated a hold rating on shares of Universal Display Corporation in a research report on Monday, May 8th. Gabelli reiterated a buy rating on shares of Universal Display Corporation in a research report on Monday, May 8th. Finally, Canaccord Genuity increased their price target on shares of Universal Display Corporation from $65.00 to $90.00 and gave the company a hold rating in a research report on Monday, May 8th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Universal Display Corporation has a consensus rating of Buy and a consensus price target of $106.00.
Universal Display Corporation (NASDAQ:OLED) traded down 0.24% during midday trading on Tuesday, reaching $123.05. 265,008 shares of the company’s stock were exchanged. The stock has a market cap of $5.79 billion, a PE ratio of 102.63 and a beta of 1.03. The firm has a 50 day moving average of $117.10 and a 200-day moving average of $91.26. Universal Display Corporation has a 12 month low of $47.88 and a 12 month high of $130.65.
Universal Display Corporation (NASDAQ:OLED) last issued its quarterly earnings results on Thursday, May 4th. The semiconductor company reported $0.22 EPS for the quarter. Universal Display Corporation had a net margin of 25.13% and a return on equity of 10.85%. The business had revenue of $55.60 million for the quarter, compared to analysts’ expectations of $33.53 million. During the same period last year, the business earned $0.04 earnings per share. The business’s quarterly revenue was up 87.2% on a year-over-year basis. On average, equities research analysts predict that Universal Display Corporation will post $1.84 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 15th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.10%. The ex-dividend date of this dividend was Tuesday, June 13th. Universal Display Corporation’s dividend payout ratio is 10.00%.
In related news, CFO Sidney D. Rosenblatt sold 16,924 shares of Universal Display Corporation stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $112.82, for a total value of $1,909,365.68. Following the sale, the chief financial officer now owns 378,870 shares in the company, valued at $42,744,113.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director C Keith Hartley sold 10,000 shares of Universal Display Corporation stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $114.87, for a total transaction of $1,148,700.00. Following the completion of the sale, the director now owns 70,549 shares in the company, valued at approximately $8,103,963.63. The disclosure for this sale can be found here. Insiders sold 77,278 shares of company stock worth $8,783,289 in the last 90 days. Company insiders own 5.70% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in OLED. Dubuque Bank & Trust Co. bought a new stake in Universal Display Corporation during the first quarter valued at $125,000. FNY Partners Fund LP bought a new stake in Universal Display Corporation during the first quarter valued at $146,000. Invictus RG bought a new stake in Universal Display Corporation during the first quarter valued at $152,000. Foundry Partners LLC bought a new stake in Universal Display Corporation during the first quarter valued at $208,000. Finally, Toronto Dominion Bank boosted its stake in Universal Display Corporation by 63.3% in the first quarter. Toronto Dominion Bank now owns 2,450 shares of the semiconductor company’s stock valued at $212,000 after buying an additional 950 shares during the period. Institutional investors and hedge funds own 70.39% 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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