Universal Display (OLED) Shares Down 5.8%

Shares of Universal Display Co. (NASDAQ:OLED) fell 5.8% during mid-day trading on Friday . The company traded as low as $93.85 and last traded at $94.10. 1,428,051 shares traded hands during mid-day trading, a decline of 6% from the average session volume of 1,523,286 shares. The stock had previously closed at $99.90.

Several equities analysts have recently weighed in on OLED shares. ValuEngine raised Universal Display from a “sell” rating to a “hold” rating in a research report on Friday, May 4th. Oppenheimer raised Universal Display from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a research report on Friday, April 6th. Zacks Investment Research downgraded Universal Display from a “hold” rating to a “sell” rating in a research report on Tuesday, April 3rd. Goldman Sachs set a $190.00 target price on Universal Display and gave the company a “buy” rating in a research report on Tuesday, March 20th. Finally, Gabelli raised Universal Display from a “hold” rating to a “buy” rating in a research report on Tuesday, March 20th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. Universal Display has a consensus rating of “Hold” and an average target price of $178.20.

The stock has a market cap of $4.74 billion, a price-to-earnings ratio of 38.72 and a beta of 1.33.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, May 3rd. The semiconductor company reported $0.13 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.13. The company had revenue of $43.57 million for the quarter, compared to the consensus estimate of $50.85 million. Universal Display had a return on equity of 17.53% and a net margin of 30.74%. Universal Display’s quarterly revenue was down 21.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.22 EPS. equities research analysts forecast that Universal Display Co. will post 1.99 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.26%. The ex-dividend date is Thursday, June 14th. Universal Display’s dividend payout ratio (DPR) is presently 9.88%.

In other Universal Display news, Director Elizabeth H. Gemmill sold 2,500 shares of the company’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $124.07, for a total value of $310,175.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard C. Elias sold 2,250 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $129.60, for a total value of $291,600.00. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Parsons Capital Management Inc. RI lifted its holdings in shares of Universal Display by 65.7% in the 1st quarter. Parsons Capital Management Inc. RI now owns 2,031 shares of the semiconductor company’s stock worth $205,000 after buying an additional 805 shares during the period. Doheny Asset Management CA purchased a new stake in shares of Universal Display in the 1st quarter worth $422,000. Lara May & Associates LLC purchased a new stake in shares of Universal Display in the 1st quarter worth $391,000. Griffin Asset Management Inc. lifted its holdings in shares of Universal Display by 27.7% in the 1st quarter. Griffin Asset Management Inc. now owns 52,047 shares of the semiconductor company’s stock worth $5,257,000 after buying an additional 11,285 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of Universal Display by 104.8% in the 1st quarter. Millennium Management LLC now owns 127,673 shares of the semiconductor company’s stock worth $12,895,000 after buying an additional 65,327 shares during the period. 64.10% of the stock is currently owned by institutional investors.

Universal Display Company Profile

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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