Zacks Investment Research lowered shares of Universal Display Corporation (NASDAQ:OLED) from a buy rating to a hold rating in a research note published 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 equities research analysts also recently issued reports about the company. Susquehanna Bancshares Inc restated a positive rating and issued a $150.00 target price (up from $120.00) on shares of Universal Display Corporation in a research report on Wednesday, August 9th. The Goldman Sachs Group, Inc. restated a buy rating and issued a $150.00 target price (up from $140.00) on shares of Universal Display Corporation in a research report on Wednesday, August 9th. BidaskClub upgraded Universal Display Corporation from a sell rating to a hold rating in a research report on Friday, August 25th. Needham & Company LLC restated a hold rating on shares of Universal Display Corporation in a research report on Friday, November 3rd. Finally, Cowen and Company restated an outperform rating and issued a $195.00 target price (up from $155.00) on shares of Universal Display Corporation in a research report on Friday, November 10th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $143.11.
Shares of Universal Display Corporation (NASDAQ OLED) traded up $1.75 during mid-day trading on Tuesday, reaching $181.00. The company had a trading volume of 712,879 shares, compared to its average volume of 822,173. Universal Display Corporation has a 1-year low of $52.10 and a 1-year high of $182.65. The company has a market cap of $8,510.00, a price-to-earnings ratio of 84.73 and a beta of 1.03.
Universal Display Corporation (NASDAQ:OLED) last released its earnings results on Thursday, November 2nd. The semiconductor company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.19. The firm had revenue of $61.70 million during the quarter, compared to the consensus estimate of $47.35 million. Universal Display Corporation had a return on equity of 16.67% and a net margin of 32.92%. The firm’s revenue for the quarter was up 104.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.03) earnings per share. equities research analysts forecast that Universal Display Corporation will post 2.33 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a dividend of $0.03 per share. 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 (DPR) is presently 5.74%.
In other news, Director Rosemarie B. Greco sold 1,250 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $168.63, for a total transaction of $210,787.50. Following the completion of the sale, the director now owns 12,800 shares in the company, valued at approximately $2,158,464. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lawrence Lacerte sold 16,500 shares of the stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $166.04, for a total value of $2,739,660.00. Following the sale, the director now owns 350,000 shares of the company’s stock, valued at approximately $58,114,000. The disclosure for this sale can be found here. Insiders have 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.
A number of large investors have recently made changes to their positions in OLED. Schroder Investment Management Group acquired a new stake in Universal Display Corporation during the 2nd quarter valued at $25,450,000. Newbrook Capital Advisors LP raised its stake in Universal Display Corporation by 49.4% during the 2nd quarter. Newbrook Capital Advisors LP now owns 558,174 shares of the semiconductor company’s stock valued at $60,981,000 after purchasing an additional 184,683 shares during the period. Columbus Circle Investors raised its stake in Universal Display Corporation by 24.1% during the 3rd quarter. Columbus Circle Investors now owns 843,537 shares of the semiconductor company’s stock valued at $108,690,000 after purchasing an additional 163,569 shares during the period. Neuberger Berman Group LLC raised its stake in Universal Display Corporation by 17.8% during the 3rd quarter. Neuberger Berman Group LLC now owns 714,223 shares of the semiconductor company’s stock valued at $92,028,000 after purchasing an additional 107,751 shares during the period. Finally, Scout Investments Inc. acquired a new stake in Universal Display Corporation during the 3rd quarter valued at $12,515,000. 64.20% of the stock is currently owned by institutional investors.
About Universal Display Corporation
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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