Universal Display Co. (NASDAQ:OLED) shares shot up 0.4% during mid-day trading on Wednesday . The stock traded as high as $117.45 and last traded at $116.40. 778,853 shares were traded during trading, a decline of 56% from the average session volume of 1,764,324 shares. The stock had previously closed at $115.97.
Several research analysts have weighed in on OLED shares. Zacks Investment Research upgraded Universal Display from a “hold” rating to a “buy” rating and set a $228.00 price target for the company in a report on Friday, January 19th. Evercore ISI started coverage on Universal Display in a report on Thursday, November 30th. They issued an “outperform” rating and a $225.00 price target for the company. Deutsche Bank reiterated a “buy” rating and issued a $190.00 price target on shares of Universal Display in a report on Thursday, January 25th. Susquehanna Bancshares boosted their price target on Universal Display from $195.00 to $215.00 and gave the company a “positive” rating in a report on Friday, January 5th. Finally, BidaskClub downgraded Universal Display from a “hold” rating to a “sell” rating in a report on Friday, January 26th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $169.73.
The firm has a market capitalization of $5,128.51, a price-to-earnings ratio of 53.21 and a beta of 1.08.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Thursday, March 15th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.21%. This is an increase from Universal Display’s previous quarterly dividend of $0.03. The ex-dividend date is Wednesday, March 14th. Universal Display’s dividend payout ratio is presently 11.01%.
In related news, Director Elizabeth H. Gemmill sold 2,500 shares of the company’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $124.07, for a total transaction of $310,175.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Sherwin I. Seligsohn sold 50,000 shares of the company’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $200.00, for a total transaction of $10,000,000.00. Following the sale, the chairman now directly owns 143,119 shares of the company’s stock, valued at $28,623,800. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,750 shares of company stock valued at $10,601,775. Insiders own 5.20% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. US Bancorp DE boosted its position in Universal Display by 4,188.2% during the 4th quarter. US Bancorp DE now owns 729 shares of the semiconductor company’s stock worth $126,000 after purchasing an additional 712 shares during the period. Cerebellum GP LLC purchased a new stake in Universal Display during the 4th quarter worth $129,000. Aevitas Wealth Management Inc. purchased a new stake in Universal Display during the 4th quarter worth $165,000. Glassman Wealth Services boosted its position in Universal Display by 60.7% during the 4th quarter. Glassman Wealth Services now owns 961 shares of the semiconductor company’s stock worth $166,000 after purchasing an additional 363 shares during the period. Finally, American International Group Inc. purchased a new stake in Universal Display during the 4th quarter worth $170,000. 62.99% of the stock is owned by hedge funds and other institutional investors.
Universal Display Company Profile
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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