Universal Display (NASDAQ:OLED) Stock Price Up 5.5%

Universal Display Co. (NASDAQ:OLED)’s share price rose 5.5% on Wednesday . The stock traded as high as $128.56 and last traded at $135.53, approximately 252,741 shares changed hands during mid-day trading. A decline of 69% from the average daily volume of 824,264 shares. The stock had previously closed at $128.51.

OLED has been the topic of several research reports. Roth Capital dropped their price objective on shares of Universal Display from to in a research note on Monday, February 24th. ValuEngine upgraded shares of Universal Display from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. BidaskClub lowered shares of Universal Display from a “sell” rating to a “strong sell” rating in a research note on Friday, March 20th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Universal Display in a research note on Friday, February 21st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $199.45.

The company’s 50 day moving average price is $155.30 and its 200 day moving average price is $183.02. The company has a market cap of $6.54 billion, a price-to-earnings ratio of 47.88, a price-to-earnings-growth ratio of 1.40 and a beta of 1.64.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Thursday, February 20th. The semiconductor company reported $0.68 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by ($0.04). Universal Display had a return on equity of 18.78% and a net margin of 34.13%. The business had revenue of $101.70 million for the quarter, compared to analyst estimates of $100.53 million. During the same quarter last year, the company earned $0.40 EPS. The business’s revenue for the quarter was up 45.1% compared to the same quarter last year. Analysts predict that Universal Display Co. will post 3.05 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be paid a dividend of $0.15 per share. This is a positive change from Universal Display’s previous quarterly dividend of $0.10. The ex-dividend date is Monday, March 16th. This represents a $0.60 annualized dividend and a dividend yield of 0.43%. Universal Display’s dividend payout ratio is 18.18%.

In other Universal Display news, Director Cynthia Jane Comparin purchased 645 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were bought at an average price of $154.25 per share, for a total transaction of $99,491.25. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.70% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Thrivent Financial for Lutherans boosted its holdings in shares of Universal Display by 0.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 11,079 shares of the semiconductor company’s stock worth $2,283,000 after buying an additional 71 shares during the period. Municipal Employees Retirement System of Michigan boosted its holdings in Universal Display by 1.0% in the 4th quarter. Municipal Employees Retirement System of Michigan now owns 7,860 shares of the semiconductor company’s stock valued at $1,620,000 after purchasing an additional 80 shares during the period. Sunbelt Securities Inc. bought a new stake in Universal Display in the 4th quarter valued at $4,946,000. Louisiana State Employees Retirement System boosted its holdings in Universal Display by 1.0% in the 4th quarter. Louisiana State Employees Retirement System now owns 10,300 shares of the semiconductor company’s stock valued at $2,123,000 after purchasing an additional 100 shares during the period. Finally, Utah Retirement Systems boosted its holdings in Universal Display by 1.2% in the 4th quarter. Utah Retirement Systems now owns 8,120 shares of the semiconductor company’s stock valued at $1,673,000 after purchasing an additional 100 shares during the period. 65.60% of the stock is owned by institutional investors and hedge funds.

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 21, 2019, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 5,000 issued and pending patents worldwide.

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