Zacks Investment Research upgraded shares of Universal Display (NASDAQ:OLED) from a hold rating to a buy rating in a research note released on Thursday morning. Zacks Investment Research currently has $195.00 target price on the semiconductor company’s stock.
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. “
A number of other brokerages also recently commented on OLED. Gabelli downgraded shares of Universal Display from a buy rating to a hold rating and set a $134.00 target price on the stock. in a research note on Friday, November 3rd. Cowen reaffirmed a buy rating and set a $140.00 target price on shares of Universal Display in a research note on Friday, September 8th. Deutsche Bank lifted their target price on shares of Universal Display to $190.00 and gave the stock a buy rating in a research note on Friday, December 8th. BidaskClub downgraded shares of Universal Display from a buy rating to a hold rating in a research note on Wednesday, December 6th. Finally, Goldman Sachs Group reaffirmed a buy rating and set a $161.00 target price (up from $150.00) on shares of Universal Display in a research note on Monday, September 18th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $161.50.
Universal Display (NASDAQ:OLED) traded up $2.80 during trading hours on Thursday, hitting $179.30. 556,400 shares of the stock traded hands, compared to its average volume of 867,536. The stock has a market capitalization of $8,430.00, a P/E ratio of 85.79 and a beta of 1.07. Universal Display has a 12-month low of $56.15 and a 12-month high of $192.75.
Universal Display (NASDAQ:OLED) last issued its earnings results on Thursday, November 2nd. The semiconductor company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.19. Universal Display had a net margin of 32.92% and a return on equity of 16.67%. The company had revenue of $61.70 million for the quarter, compared to the consensus estimate of $47.35 million. During the same period in the previous year, the firm earned ($0.03) earnings per share. Universal Display’s quarterly revenue was up 104.3% compared to the same quarter last year. analysts forecast that Universal Display will post 2.33 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.07%. The ex-dividend date was Thursday, December 14th. Universal Display’s dividend payout ratio is presently 5.74%.
In related news, CFO Sidney D. Rosenblatt sold 50,240 shares of Universal Display stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $167.80, for a total value of $8,430,272.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Julia J. Brown sold 10,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 152,932 shares of the company’s stock, valued at approximately $22,939,800. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 146,734 shares of company stock valued at $23,349,769. Company insiders own 5.20% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Columbus Circle Investors lifted its position in shares of Universal Display by 24.1% during the 3rd quarter. Columbus Circle Investors now owns 843,537 shares of the semiconductor company’s stock worth $108,690,000 after buying an additional 163,569 shares during the last quarter. Neuberger Berman Group LLC grew its stake in shares of Universal Display by 17.8% during the 3rd 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 during the period. TD Asset Management Inc. grew its stake in shares of Universal Display by 2.8% during the 3rd 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 during the period. Newbrook Capital Advisors LP grew its stake in shares of Universal Display by 49.4% during the 2nd 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 during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Universal Display by 7.1% during the 3rd 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 during the period. Institutional investors own 64.87% 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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