Universal Display Co. (NASDAQ:OLED)‘s stock had its “buy” rating reissued by analysts at Gabelli in a research report issued to clients and investors on Monday, May 8th.
OLED has been the topic of several other reports. Needham & Company LLC reissued a “hold” rating on shares of Universal Display in a research report on Wednesday, February 22nd. Cowen and Company lowered their price objective on shares of Universal Display from $105.00 to $90.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 3rd. Zacks Investment Research upgraded shares of Universal Display from a “sell” rating to a “hold” rating in a research note on Saturday, May 6th. Susquehanna Bancshares Inc upped their price target on shares of Universal Display from $100.00 to $105.00 and gave the company a “positive” rating in a research note on Friday, February 24th. Finally, Canaccord Genuity upped their price target on shares of Universal Display from $49.00 to $65.00 and gave the company a “hold” rating in a research note on Friday, February 24th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Universal Display has a consensus rating of “Buy” and a consensus target price of $101.38.
Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, May 4th. The semiconductor company reported $0.22 EPS for the quarter. The business had revenue of $55.60 million for the quarter, compared to analysts’ expectations of $33.53 million. Universal Display had a net margin of 21.61% and a return on equity of 8.37%. The firm’s revenue was up 87.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.04 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.10%. The ex-dividend date is Tuesday, June 13th.
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In other news, insider Julia J. Brown sold 47,192 shares of the stock in a transaction on Friday, February 24th. The shares were sold at an average price of $74.00, for a total transaction of $3,492,208.00. Following the completion of the sale, the insider now directly owns 217,848 shares in the company, valued at $16,120,752. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director C Keith Hartley sold 10,000 shares of the stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $114.87, for a total transaction of $1,148,700.00. Following the sale, the director now owns 70,549 shares of the company’s stock, valued at $8,103,963.63. The disclosure for this sale can be found here. Insiders have sold 125,720 shares of company stock valued at $12,258,097 in the last ninety days. Insiders own 5.70% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Shaker Investments LLC OH acquired a new position in Universal Display during the third quarter worth $945,000. Capital One National Association raised its position in Universal Display by 1.5% in the third quarter. Capital One National Association now owns 9,550 shares of the semiconductor company’s stock worth $530,000 after buying an additional 144 shares during the last quarter. Wells Fargo & Company MN raised its position in Universal Display by 22.8% in the third quarter. Wells Fargo & Company MN now owns 949,174 shares of the semiconductor company’s stock worth $52,689,000 after buying an additional 176,249 shares during the last quarter. Princeton Capital Management Inc. raised its position in Universal Display by 2.0% in the third quarter. Princeton Capital Management Inc. now owns 85,914 shares of the semiconductor company’s stock worth $4,769,000 after buying an additional 1,671 shares during the last quarter. Finally, Sei Investments Co. raised its position in Universal Display by 20.8% in the third quarter. Sei Investments Co. now owns 8,554 shares of the semiconductor company’s stock worth $475,000 after buying an additional 1,470 shares during the last quarter. 67.82% 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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