Zacks Investment Research upgraded shares of Universal Display (NASDAQ:OLED) from a hold rating to a buy rating in a research report released on Friday morning. Zacks Investment Research currently has $228.00 price target 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. “
Other analysts also recently issued research reports about the company. Deutsche Bank raised their price objective on Universal Display to $190.00 and gave the stock a buy rating in a research report on Friday, December 8th. Cowen set a $140.00 target price on Universal Display and gave the stock a buy rating in a research report on Wednesday, October 11th. Needham & Company LLC restated a hold rating on shares of Universal Display in a research report on Friday, November 3rd. Gabelli downgraded Universal Display from a buy rating to a hold rating and set a $134.00 target price for the company. in a research report on Friday, November 3rd. Finally, Cross Research downgraded Universal Display from a buy rating to a hold rating in a research report on Tuesday, October 31st. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Universal Display has a consensus rating of Hold and a consensus price target of $164.80.
Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate 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 during the quarter, compared to the consensus estimate of $47.35 million. During the same quarter last year, the company earned ($0.03) EPS. The company’s quarterly revenue was up 104.3% on a year-over-year basis. equities analysts expect 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 given a dividend of $0.03 per share. The ex-dividend date was Thursday, December 14th. This represents a $0.12 annualized dividend and a dividend yield of 0.06%. Universal Display’s dividend payout ratio (DPR) is presently 5.74%.
In related news, insider Steven V. Abramson sold 18,744 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $158.40, for a total transaction of $2,969,049.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Sherwin I. Seligsohn sold 50,000 shares of the firm’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $200.00, for a total value of $10,000,000.00. Following the sale, the chairman now directly owns 143,119 shares of the company’s stock, valued at $28,623,800. The disclosure for this sale can be found here. Insiders have sold a total of 196,734 shares of company stock valued at $33,349,769 in the last 90 days. 5.20% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in OLED. Legal & General Group Plc increased its holdings in Universal Display by 3.9% during the 2nd quarter. Legal & General Group Plc now owns 14,984 shares of the semiconductor company’s stock valued at $1,637,000 after purchasing an additional 569 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in Universal Display by 79.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,536 shares of the semiconductor company’s stock valued at $168,000 after purchasing an additional 680 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Universal Display by 31.6% during the 2nd quarter. Principal Financial Group Inc. now owns 11,459 shares of the semiconductor company’s stock valued at $1,252,000 after purchasing an additional 2,750 shares in the last quarter. Eaton Vance Management acquired a new stake in Universal Display during the 2nd quarter valued at $619,000. Finally, TIAA CREF Investment Management LLC increased its holdings in Universal Display by 0.3% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 273,933 shares of the semiconductor company’s stock valued at $29,927,000 after purchasing an additional 829 shares in the last quarter. 64.91% of the stock is owned by hedge funds and other institutional investors.
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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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