Universal Display Corporation (NASDAQ:OLED) posted its quarterly earnings results on Thursday. The semiconductor company reported $0.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.26, Briefing.com reports. Universal Display Corporation had a net margin of 25.13% and a return on equity of 10.85%. The business had revenue of $102.50 million for the quarter, compared to analysts’ expectations of $84.81 million. During the same period in the prior year, the company posted $0.46 EPS. The business’s revenue for the quarter was up 59.2% on a year-over-year basis.
Shares of Universal Display Corporation (NASDAQ OLED) traded down 0.79% during midday trading on Thursday, reaching $119.10. 1,358,495 shares of the company were exchanged. The firm’s 50 day moving average is $117.32 and its 200-day moving average is $95.25. Universal Display Corporation has a 52-week low of $47.88 and a 52-week high of $130.65. The company has a market capitalization of $5.60 billion, a PE ratio of 99.25 and a beta of 1.04.
A number of equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Universal Display Corporation from a “hold” rating to a “strong-buy” rating and set a $134.00 price target on the stock in a research note on Wednesday, May 17th. Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $120.00 price target (up from $105.00) on shares of Universal Display Corporation in a research note on Friday, May 5th. BidaskClub cut shares of Universal Display Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of Universal Display Corporation in a research note on Monday, May 8th. Finally, Gabelli reaffirmed a “buy” rating on shares of Universal Display Corporation in a research note on Monday, May 8th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $109.63.
In other Universal Display Corporation news, Director C Keith Hartley sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $114.87, for a total value of $1,148,700.00. Following the sale, the director now directly owns 70,549 shares in the company, valued at $8,103,963.63. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sidney D. Rosenblatt sold 16,924 shares of the business’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $112.82, for a total transaction of $1,909,365.68. Following the completion of the sale, the chief financial officer now owns 378,870 shares in the company, valued at $42,744,113.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 105,278 shares of company stock worth $12,274,829. 5.70% of the stock is owned by company insiders.
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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