Universal Display (NASDAQ:OLED) Cut to Buy at BidaskClub

BidaskClub lowered shares of Universal Display (NASDAQ:OLED) from a strong-buy rating to a buy rating in a research note issued to investors on Sunday, BidAskClub reports.

A number of other research firms also recently issued reports on OLED. Deutsche Bank lifted their target price on Universal Display from $190.00 to $220.00 and gave the company a buy rating in a research report on Tuesday, July 23rd. Susquehanna Bancshares reaffirmed a neutral rating and issued a $180.00 target price on shares of Universal Display in a research report on Monday, April 29th. Roth Capital lifted their target price on Universal Display from $172.00 to $206.00 and gave the company a neutral rating in a research report on Friday, August 2nd. Citigroup lifted their target price on Universal Display from $180.00 to $223.00 and gave the company a neutral rating in a research report on Friday, August 2nd. Finally, Oppenheimer downgraded Universal Display from an outperform rating to a market perform rating and set a $190.50 target price on the stock. in a research report on Wednesday, July 10th. They noted that the move was a valuation call. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Universal Display has an average rating of Hold and an average price target of $183.29.

Shares of NASDAQ:OLED opened at $213.15 on Friday. The firm has a market capitalization of $10.10 billion, a PE ratio of 171.90, a price-to-earnings-growth ratio of 2.62 and a beta of 1.53. The firm’s 50-day moving average is $205.75 and its two-hundred day moving average is $168.53. Universal Display has a 1 year low of $78.78 and a 1 year high of $218.28.

Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.46 by $0.46. Universal Display had a return on equity of 16.52% and a net margin of 33.08%. The firm had revenue of $118.17 million for the quarter, compared to analyst estimates of $79.26 million. During the same period in the previous year, the company posted $0.23 EPS. Universal Display’s revenue for the quarter was up 110.5% on a year-over-year basis. As a group, equities analysts forecast that Universal Display will post 2.68 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.40 dividend on an annualized basis and a yield of 0.19%. Universal Display’s dividend payout ratio is 32.26%.

In related news, VP Mauro Premutico sold 14,076 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $175.16, for a total transaction of $2,465,552.16. Following the completion of the sale, the vice president now directly owns 51,989 shares of the company’s stock, valued at approximately $9,106,393.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven V. Abramson sold 30,000 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $179.64, for a total value of $5,389,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 177,801 shares of company stock valued at $34,646,297 over the last ninety days. Insiders own 3.70% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in OLED. TCI Wealth Advisors Inc. boosted its stake in Universal Display by 1,458.3% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 187 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 175 shares in the last quarter. Capital Investment Advisory Services LLC raised its holdings in shares of Universal Display by 94.0% in the 2nd quarter. Capital Investment Advisory Services LLC now owns 194 shares of the semiconductor company’s stock worth $40,000 after buying an additional 94 shares in the last quarter. HM Payson & Co. acquired a new position in shares of Universal Display in the 2nd quarter worth approximately $38,000. Meridian Wealth Management LLC acquired a new position in shares of Universal Display in the 1st quarter worth approximately $31,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in shares of Universal Display in the 2nd quarter worth approximately $41,000. Hedge funds and other institutional investors own 74.80% 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.

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