Steven V. Abramson Sells 31,182 Shares of Universal Display Co. (NASDAQ:OLED) Stock

Universal Display Co. (NASDAQ:OLED) CEO Steven V. Abramson sold 31,182 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $222.02, for a total transaction of $6,923,027.64. Following the completion of the transaction, the chief executive officer now directly owns 146,493 shares of the company’s stock, valued at approximately $32,524,375.86. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Shares of NASDAQ:OLED traded down $13.83 during trading on Monday, reaching $210.92. 72,192 shares of the company traded hands, compared to its average volume of 460,308. The firm has a fifty day simple moving average of $209.45 and a 200 day simple moving average of $176.16. Universal Display Co. has a 1-year low of $78.78 and a 1-year high of $230.32. The firm has a market cap of $10.51 billion, a P/E ratio of 170.17, a price-to-earnings-growth ratio of 2.76 and a beta of 1.53.

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

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.10 dividend. The ex-dividend date 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 (DPR) is currently 32.26%.

A number of hedge funds have recently modified their holdings of OLED. Primecap Management Co. CA raised its stake in shares of Universal Display by 1.2% in the 1st quarter. Primecap Management Co. CA now owns 4,768,412 shares of the semiconductor company’s stock valued at $728,852,000 after acquiring an additional 55,493 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Universal Display by 0.6% during the 2nd quarter. BlackRock Inc. now owns 3,823,204 shares of the semiconductor company’s stock worth $718,991,000 after buying an additional 23,953 shares during the period. Neuberger Berman Group LLC grew its stake in Universal Display by 1.4% in the 1st quarter. Neuberger Berman Group LLC now owns 1,357,193 shares of the semiconductor company’s stock valued at $207,447,000 after buying an additional 19,187 shares during the last quarter. Griffin Asset Management Inc. grew its stake in Universal Display by 24.5% in the 2nd quarter. Griffin Asset Management Inc. now owns 618,209 shares of the semiconductor company’s stock valued at $116,260,000 after buying an additional 121,475 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Universal Display by 8.1% in the 4th quarter. Geode Capital Management LLC now owns 431,907 shares of the semiconductor company’s stock worth $40,413,000 after acquiring an additional 32,314 shares during the period. 69.34% of the stock is currently owned by institutional investors.

OLED has been the topic of several recent analyst reports. Berenberg Bank began coverage on shares of Universal Display in a research note on Wednesday, July 24th. They set a “hold” rating and a $192.00 target price on the stock. Roth Capital raised their target price on Universal Display from $172.00 to $206.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. ValuEngine cut Universal Display from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 2nd. BidaskClub downgraded Universal Display from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 18th. Finally, Citigroup upped their price target on Universal Display from $180.00 to $223.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $183.29.

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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