Citigroup Lowers Universal Display (OLED) to Neutral

Citigroup cut shares of Universal Display (NASDAQ:OLED) from a buy rating to a neutral rating in a research report released on Friday, Benzinga reports. They currently have $167.89 price objective on the semiconductor company’s stock.

OLED has been the subject of several other research reports. Zacks Investment Research downgraded shares of Universal Display from a strong-buy rating to a hold rating in a research report on Wednesday, April 24th. Roth Capital set a $194.00 price objective on shares of Universal Display and gave the company a buy rating in a report on Friday, May 3rd. Susquehanna Bancshares restated a neutral rating and issued a $180.00 price objective on shares of Universal Display in a report on Monday, April 29th. Needham & Company LLC restated a buy rating and issued a $200.00 price objective (up from $140.00) on shares of Universal Display in a report on Friday, May 3rd. Finally, ValuEngine upgraded shares of Universal Display from a buy rating to a strong-buy rating in a report on Tuesday, March 5th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of Buy and an average price target of $160.44.

Shares of OLED opened at $164.62 on Friday. Universal Display has a 52-week low of $78.75 and a 52-week high of $190.00. The company has a market capitalization of $7.93 billion, a P/E ratio of 132.76, a price-to-earnings-growth ratio of 2.29 and a beta of 1.41.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.40. Universal Display had a return on equity of 12.35% and a net margin of 28.93%. The business had revenue of $87.80 million during the quarter, compared to analyst estimates of $64.59 million. During the same period in the previous year, the firm earned $0.13 EPS. Universal Display’s quarterly revenue was up 101.4% compared to the same quarter last year. Research analysts anticipate that Universal Display will post 2.44 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, June 13th. This represents a $0.40 annualized dividend and a yield of 0.24%. Universal Display’s dividend payout ratio is currently 32.26%.

In related news, VP Janice K. Mahon sold 20,819 shares of Universal Display stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $170.24, for a total transaction of $3,544,226.56. Following the sale, the vice president now directly owns 37,039 shares in the company, valued at approximately $6,305,519.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lawrence Lacerte sold 6,250 shares of Universal Display stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $145.52, for a total transaction of $909,500.00. Following the sale, the director now owns 325,000 shares in the company, valued at $47,294,000. The disclosure for this sale can be found here. Insiders have sold a total of 57,783 shares of company stock worth $9,450,717 over the last quarter. 3.70% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ropes Wealth Advisors LLC acquired a new position in shares of Universal Display in the fourth quarter valued at approximately $25,000. Regal Investment Advisors LLC acquired a new stake in shares of Universal Display in the 1st quarter worth about $50,000. Pearl River Capital LLC increased its holdings in shares of Universal Display by 251.4% in the 1st quarter. Pearl River Capital LLC now owns 390 shares of the semiconductor company’s stock worth $60,000 after acquiring an additional 279 shares during the period. Sontag Advisory LLC acquired a new stake in shares of Universal Display in the 4th quarter worth about $37,000. Finally, Carroll Financial Associates Inc. acquired a new position in Universal Display during the 4th quarter valued at about $42,000. Institutional investors own 84.85% of the company’s stock.

About Universal Display

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.

Featured Article: What is the Bid-Ask Spread?

Analyst Recommendations for Universal Display (NASDAQ:OLED)

Receive News & Ratings for Universal Display Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Display and related companies with MarketBeat.com's FREE daily email newsletter.