Universal Display (OLED) Sees Large Volume Increase

Universal Display Co. (NASDAQ:OLED) saw unusually-high trading volume on Wednesday . Approximately 228,981 shares traded hands during trading, a decline of 79% from the previous session’s volume of 1,081,859 shares.The stock last traded at $98.70 and had previously closed at $104.15.

OLED has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Universal Display from a “hold” rating to a “sell” rating in a report on Tuesday, March 27th. Goldman Sachs Group set a $150.00 price objective on shares of Universal Display and gave the company a “buy” rating in a report on Tuesday. BidaskClub downgraded shares of Universal Display from a “sell” rating to a “strong sell” rating in a report on Thursday, March 15th. Cowen set a $225.00 price objective on shares of Universal Display and gave the company a “buy” rating in a report on Tuesday, February 20th. Finally, Roth Capital initiated coverage on shares of Universal Display in a report on Monday, May 21st. They set a “buy” rating and a $136.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $170.73.

The firm has a market capitalization of $4.88 billion, a PE ratio of 40.74 and a beta of 1.33.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Thursday, May 3rd. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.13. Universal Display had a net margin of 30.74% and a return on equity of 17.53%. The firm had revenue of $43.57 million for the quarter, compared to the consensus estimate of $50.85 million. During the same period in the prior year, the firm posted $0.22 earnings per share. The company’s revenue for the quarter was down 21.6% on a year-over-year basis. sell-side analysts expect that Universal Display Co. will post 1.95 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date is Thursday, June 14th. Universal Display’s payout ratio is 9.88%.

In other news, Director Elizabeth H. Gemmill sold 2,500 shares of the stock in a transaction dated Thursday, March 15th. The shares were 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 can be accessed through this hyperlink. Corporate insiders own 4.00% of the company’s stock.

Several hedge funds have recently bought and sold shares of OLED. Bank of Montreal Can increased its position in shares of Universal Display by 281.4% in the fourth quarter. Bank of Montreal Can now owns 8,219 shares of the semiconductor company’s stock worth $1,420,000 after purchasing an additional 6,064 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Universal Display by 7.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 185,690 shares of the semiconductor company’s stock worth $32,060,000 after purchasing an additional 12,816 shares during the last quarter. State of Alaska Department of Revenue bought a new position in shares of Universal Display in the fourth quarter worth approximately $535,000. Jennison Associates LLC bought a new position in shares of Universal Display in the fourth quarter worth approximately $14,926,000. Finally, Chicago Equity Partners LLC bought a new position in shares of Universal Display in the fourth quarter worth approximately $854,000. Institutional investors own 65.34% of the company’s stock.

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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