Universal Display (OLED) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Universal Display (NASDAQ:OLED) from a hold rating to a buy rating in a research note released on Thursday, January 4th. Zacks Investment Research currently has $195.00 price objective 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. “

Several other brokerages also recently commented on OLED. Evercore ISI began coverage on Universal Display in a report on Thursday, November 30th. They set an outperform rating and a $225.00 target price on the stock. Cowen reissued an outperform rating and issued a $195.00 price objective (up from $155.00) on shares of Universal Display in a research note on Friday, November 10th. Deutsche Bank boosted their price objective on Universal Display to $190.00 and gave the company a buy rating in a research note on Friday, December 8th. BidaskClub downgraded Universal Display from a buy rating to a hold rating in a research note on Wednesday, December 6th. Finally, Needham & Company LLC reissued a hold rating on shares of Universal Display in a research note on Friday, November 3rd. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $161.50.

Shares of Universal Display (OLED) traded up $5.20 on Thursday, hitting $197.80. The stock had a trading volume of 574,000 shares, compared to its average volume of 920,612. Universal Display has a one year low of $56.15 and a one year high of $198.30. The company has a market cap of $9,250.00, a price-to-earnings ratio of 94.64 and a beta of 1.07.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.19. The business had revenue of $61.70 million for the quarter, compared to analyst estimates of $47.35 million. Universal Display had a return on equity of 16.67% and a net margin of 32.92%. Universal Display’s quarterly revenue was up 104.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.03) EPS. equities analysts expect that Universal Display will post 2.33 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.06%. The ex-dividend date of this dividend was Thursday, December 14th. Universal Display’s dividend payout ratio is currently 5.74%.

In related news, insider Julia J. Brown sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $150.00, for a total value of $1,500,000.00. Following the transaction, the insider now owns 152,932 shares in the company, valued at $22,939,800. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Rosemarie B. Greco sold 1,250 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $168.63, for a total value of $210,787.50. Following the completion of the transaction, the director now owns 12,800 shares in the company, valued at approximately $2,158,464. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 146,734 shares of company stock valued at $23,349,769. 5.20% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. Columbus Circle Investors lifted its position in shares of Universal Display by 24.1% during the third quarter. Columbus Circle Investors now owns 843,537 shares of the semiconductor company’s stock worth $108,690,000 after acquiring an additional 163,569 shares in the last quarter. Neuberger Berman Group LLC lifted its position in shares of Universal Display by 17.8% during the third quarter. Neuberger Berman Group LLC now owns 714,223 shares of the semiconductor company’s stock worth $92,028,000 after acquiring an additional 107,751 shares in the last quarter. TD Asset Management Inc. lifted its position in shares of Universal Display by 2.8% during the third quarter. TD Asset Management Inc. now owns 641,094 shares of the semiconductor company’s stock worth $82,605,000 after acquiring an additional 17,385 shares in the last quarter. Newbrook Capital Advisors LP lifted its position in shares of Universal Display by 49.4% during the second quarter. Newbrook Capital Advisors LP now owns 558,174 shares of the semiconductor company’s stock worth $60,981,000 after acquiring an additional 184,683 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Universal Display by 7.1% during the third quarter. Bank of New York Mellon Corp now owns 383,915 shares of the semiconductor company’s stock worth $49,468,000 after acquiring an additional 25,479 shares in the last quarter. Institutional investors and hedge funds own 64.87% of the company’s stock.

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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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