Universal Display Corporation (OLED) Earns “Outperform” Rating from Cowen and Company
Cowen and Company reaffirmed their outperform rating on shares of Universal Display Corporation (NASDAQ:OLED) in a report issued on Friday, The Fly reports. The firm currently has a $195.00 target price on the semiconductor company’s stock, up from their previous target price of $155.00.
Several other analysts have also recently commented on OLED. Goldman Sachs Group, Inc. (The) restated a buy rating and issued a $150.00 target price (up previously from $140.00) on shares of Universal Display Corporation in a research note on Wednesday, August 9th. Susquehanna Bancshares Inc restated a positive rating and issued a $150.00 target price (up previously from $120.00) on shares of Universal Display Corporation in a research note on Wednesday, August 9th. Needham & Company LLC restated a hold rating on shares of Universal Display Corporation in a research note on Friday, November 3rd. Oppenheimer Holdings, Inc. restated a market perform rating on shares of Universal Display Corporation in a research note on Wednesday, August 9th. Finally, Summit Redstone restated a hold rating and issued a $95.00 target price on shares of Universal Display Corporation in a research note on Tuesday, August 1st. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $139.78.
Shares of Universal Display Corporation (OLED) traded up $1.15 during trading hours on Friday, reaching $177.05. 909,500 shares of the company were exchanged, compared to its average volume of 822,258. The firm has a market cap of $8,330.00, a PE ratio of 86.22 and a beta of 1.03. Universal Display Corporation has a 12-month low of $52.10 and a 12-month high of $178.71.
Universal Display Corporation (NASDAQ:OLED) last issued its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.19. Universal Display Corporation had a net margin of 32.92% and a return on equity of 16.67%. The firm had revenue of $61.70 million during the quarter, compared to analysts’ expectations of $47.35 million. During the same quarter in the prior year, the business earned ($0.03) EPS. Universal Display Corporation’s quarterly revenue was up 104.3% compared to the same quarter last year. sell-side analysts predict that Universal Display Corporation will post 2.33 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a $0.03 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.07%. Universal Display Corporation’s dividend payout ratio is presently 5.74%.
In other news, CFO Sidney D. Rosenblatt sold 50,240 shares of the stock in a transaction dated 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 Securities & Exchange Commission, which is accessible through this link. Also, insider Steven V. Abramson sold 18,744 shares of the stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $158.40, for a total transaction of $2,969,049.60. The disclosure for this sale can be found here. Insiders sold a total of 196,974 shares of company stock valued at $30,133,174 in the last quarter. Insiders own 5.20% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Mitra Capital LLC purchased a new position in shares of Universal Display Corporation in the 2nd quarter valued at about $109,000. IFP Advisors Inc increased its holdings 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 valued at $118,000 after purchasing an additional 815 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in Universal Display Corporation by 79.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,536 shares of the semiconductor company’s stock valued at $168,000 after acquiring an additional 680 shares in the last quarter. CIBC Asset Management Inc purchased a new position in Universal Display Corporation during the 3rd quarter valued at about $205,000. Finally, Comerica Bank purchased a new position in Universal Display Corporation during the 3rd quarter valued at about $221,000. Institutional investors and hedge funds own 64.20% of the company’s stock.
Universal Display Corporation 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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