Universal Display (OLED) Stock Rating Lowered by Zacks Investment Research
Zacks Investment Research downgraded shares of Universal Display (NASDAQ:OLED) from a buy rating to a hold rating in a research report released 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. “
Other research analysts have also issued reports about the company. Deutsche Bank increased their price objective on Universal Display to $190.00 and gave the company a buy rating in a report on Friday, December 8th. Cowen set a $140.00 price objective on Universal Display and gave the company a buy rating in a report on Wednesday, October 11th. Goldman Sachs Group reissued a buy rating and issued a $161.00 price objective (up from $150.00) on shares of Universal Display in a report on Monday, September 18th. Needham & Company LLC reissued a hold rating on shares of Universal Display in a report on Friday, November 3rd. Finally, Gabelli lowered Universal Display from a buy rating to a hold rating and set a $134.00 price objective on the stock. in a report on Friday, November 3rd. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $161.50.
Shares of Universal Display (OLED) traded up $5.20 during mid-day trading on Tuesday, hitting $197.80. The stock had a trading volume of 574,000 shares, compared to its average volume of 920,612. The firm has a market capitalization of $9,270.00, a price-to-earnings ratio of 94.64 and a beta of 1.07. Universal Display has a fifty-two week low of $56.15 and a fifty-two week high of $198.30.
Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.19. The business had revenue of $61.70 million for the quarter, compared to analyst estimates of $47.35 million. Universal Display had a return on equity of 16.67% and a net margin of 32.92%. The company’s revenue was up 104.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.03) earnings per share. research analysts predict that Universal Display will post 2.33 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.06%. The ex-dividend date of this dividend was Thursday, December 14th. Universal Display’s dividend payout ratio (DPR) is 5.74%.
In related news, insider Julia J. Brown sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the sale, the insider now directly owns 152,932 shares of the company’s stock, valued at $22,939,800. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Lawrence Lacerte sold 16,500 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $166.04, for a total value of $2,739,660.00. Following the sale, the director now directly owns 350,000 shares in the company, valued at $58,114,000. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 146,734 shares of company stock worth $23,349,769. 5.20% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. Columbus Circle Investors grew its holdings in Universal Display by 24.1% during the third quarter. Columbus Circle Investors now owns 843,537 shares of the semiconductor company’s stock worth $108,690,000 after acquiring an additional 163,569 shares during the period. Neuberger Berman Group LLC boosted its position in Universal Display by 17.8% during the third quarter. Neuberger Berman Group LLC now owns 714,223 shares of the semiconductor company’s stock worth $92,028,000 after purchasing an additional 107,751 shares in the last quarter. TD Asset Management Inc. boosted its position in Universal Display by 2.8% during the third quarter. TD Asset Management Inc. now owns 641,094 shares of the semiconductor company’s stock worth $82,605,000 after purchasing an additional 17,385 shares in the last quarter. Newbrook Capital Advisors LP boosted its position in Universal Display by 49.4% during the second quarter. Newbrook Capital Advisors LP now owns 558,174 shares of the semiconductor company’s stock worth $60,981,000 after purchasing an additional 184,683 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Universal Display by 7.1% during the third quarter. Bank of New York Mellon Corp now owns 383,915 shares of the semiconductor company’s stock worth $49,468,000 after purchasing an additional 25,479 shares in the last quarter. 64.87% of the stock is currently 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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