Universal Display (OLED) Cut to Hold at BidaskClub
BidaskClub downgraded shares of Universal Display (NASDAQ:OLED) from a buy rating to a hold rating in a research note released on Wednesday morning.
A number of other brokerages have also recently issued reports on OLED. Zacks Investment Research upgraded Universal Display from a hold rating to a strong-buy rating and set a $168.00 price objective on the stock in a research note on Thursday, November 2nd. Cowen reiterated a buy rating and set a $140.00 price objective on shares of Universal Display in a research note on Friday, September 8th. Gabelli cut Universal Display from a buy rating to a hold rating and set a $134.00 price objective on the stock. in a research note on Friday, November 3rd. Deutsche Bank started coverage on Universal Display in a research note on Wednesday, August 30th. They set a buy rating and a $135.00 price objective on the stock. Finally, Susquehanna Bancshares reiterated a positive rating and set a $150.00 price objective (up previously from $120.00) on shares of Universal Display in a research note on Wednesday, August 9th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $155.30.
Universal Display (OLED) opened at $172.70 on Wednesday. Universal Display has a 12-month low of $55.30 and a 12-month high of $192.75. The firm has a market capitalization of $7,872.25, a P/E ratio of 82.03 and a beta of 1.06.
Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.19. Universal Display had a return on equity of 16.67% and a net margin of 32.92%. The company had revenue of $61.70 million for the quarter, compared to analysts’ expectations of $47.35 million. During the same quarter in the prior year, the business posted ($0.03) EPS. The business’s revenue was up 104.3% compared to the same quarter last year. equities research analysts predict that Universal Display will post 2.33 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.07%. The ex-dividend date is Thursday, December 14th. Universal Display’s dividend payout ratio (DPR) is presently 5.88%.
In related news, insider Steven V. Abramson sold 18,744 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $158.40, for a total value of $2,969,049.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Julia J. Brown sold 10,000 shares of the stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $150.00, for a total value of $1,500,000.00. Following the completion of the sale, the insider now owns 152,932 shares in the company, valued at approximately $22,939,800. The disclosure for this sale can be found here. In the last 90 days, insiders sold 196,974 shares of company stock worth $30,133,174. 5.20% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. BKS Advisors LLC bought a new stake in Universal Display in the 2nd quarter valued at $2,318,000. Balyasny Asset Management LLC bought a new position in Universal Display during the 2nd quarter worth $3,673,000. Seven Eight Capital LP increased its position in Universal Display by 9.9% during the 2nd quarter. Seven Eight Capital LP now owns 17,700 shares of the semiconductor company’s stock worth $1,934,000 after buying an additional 1,600 shares during the period. Neuberger Berman Group LLC increased its position in Universal Display by 18.2% during the 2nd quarter. Neuberger Berman Group LLC now owns 606,472 shares of the semiconductor company’s stock worth $66,257,000 after buying an additional 93,223 shares during the period. Finally, State of Wisconsin Investment Board bought a new position in Universal Display during the 2nd quarter worth $6,477,000. Institutional investors and hedge funds own 65.03% of the company’s stock.
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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