Universal Display Co. (NASDAQ:OLED) shares saw unusually-strong trading volume on Thursday . Approximately 3,181,060 shares were traded during mid-day trading, an increase of 146% from the previous session’s volume of 1,293,064 shares.The stock last traded at $98.59 and had previously closed at $91.75.
A number of equities research analysts have commented on OLED shares. Goldman Sachs Group set a $139.00 price objective on Universal Display and gave the company a “buy” rating in a research note on Friday, November 2nd. Cowen set a $175.00 price objective on Universal Display and gave the company an “outperform” rating in a research note on Thursday, October 4th. Oppenheimer raised their price objective on Universal Display from $120.00 to $140.00 and gave the company an “outperform” rating in a research note on Tuesday, September 25th. Citigroup started coverage on Universal Display in a research note on Tuesday, September 4th. They issued a “buy” rating and a $153.00 price objective for the company. Finally, Gabelli cut Universal Display from a “buy” rating to a “hold” rating in a research note on Friday, November 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $162.10.
The stock has a market cap of $4.64 billion, a PE ratio of 39.25, a P/E/G ratio of 2.85 and a beta of 1.54.
Universal Display (NASDAQ:OLED) last announced its earnings results on Thursday, November 1st. The semiconductor company reported $0.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.18). The company had revenue of $77.55 million for the quarter, compared to analysts’ expectations of $92.21 million. Universal Display had a net margin of 24.70% and a return on equity of 12.77%. The firm’s quarterly revenue was up 25.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 EPS. On average, equities research analysts forecast that Universal Display Co. will post 1.16 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, December 13th. This represents a $0.24 annualized dividend and a dividend yield of 0.25%. Universal Display’s payout ratio is 9.88%.
In related news, Director Rosemarie B. Greco sold 3,750 shares of Universal Display stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $91.39, for a total transaction of $342,712.50. Following the transaction, the director now owns 9,450 shares of the company’s stock, valued at $863,635.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lawrence Lacerte sold 10,000 shares of Universal Display stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $97.02, for a total value of $970,200.00. Following the transaction, the director now directly owns 330,000 shares in the company, valued at approximately $32,016,600. The disclosure for this sale can be found here. 4.00% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in OLED. Primecap Management Co. CA boosted its position in shares of Universal Display by 65.6% during the third quarter. Primecap Management Co. CA now owns 3,076,303 shares of the semiconductor company’s stock valued at $362,696,000 after buying an additional 1,218,253 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in Universal Display by 2,596.0% during the third quarter. Alliancebernstein L.P. now owns 642,400 shares of the semiconductor company’s stock worth $75,739,000 after acquiring an additional 618,572 shares during the period. Millennium Management LLC lifted its holdings in Universal Display by 479.7% during the second quarter. Millennium Management LLC now owns 740,149 shares of the semiconductor company’s stock worth $63,653,000 after acquiring an additional 612,476 shares during the period. KAMES CAPITAL plc bought a new stake in Universal Display during the third quarter worth $46,257,000. Finally, Griffin Asset Management Inc. lifted its holdings in Universal Display by 499.6% during the third quarter. Griffin Asset Management Inc. now owns 337,205 shares of the semiconductor company’s stock worth $39,756,000 after acquiring an additional 280,967 shares during the period. 77.43% of the stock is currently owned by institutional investors.
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About Universal Display (NASDAQ:OLED)
Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in flat panel displays and solid-state lighting applications. As of February 22, 2018, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 4,500 issued and pending patents worldwide.
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