Universal Display Co. (NASDAQ:OLED) – Research analysts at Gabelli upped their FY2019 EPS estimates for shares of Universal Display in a report released on Monday, August 5th. Gabelli analyst H. Susanto now forecasts that the semiconductor company will post earnings per share of $2.60 for the year, up from their previous estimate of $2.30.
Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $0.92 earnings per share for the quarter, beating 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 business had revenue of $118.17 million for the quarter, compared to analysts’ expectations of $79.26 million. During the same period last year, the business earned $0.23 EPS. The business’s revenue was up 110.5% on a year-over-year basis.
OLED has been the subject of several other reports. Roth Capital raised 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. ValuEngine lowered Universal Display from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 2nd. Berenberg Bank initiated coverage on Universal Display in a research report on Wednesday, July 24th. They set a “hold” rating and a $192.00 target price for the company. Oppenheimer lowered Universal Display from an “outperform” rating to a “market perform” rating and set a $190.50 target price for the company. in a research report on Wednesday, July 10th. They noted that the move was a valuation call. Finally, Needham & Company LLC lowered Universal Display from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Universal Display presently has a consensus rating of “Hold” and an average target price of $182.46.
Shares of NASDAQ:OLED opened at $205.20 on Wednesday. The company’s fifty day moving average is $197.98. Universal Display has a 1-year low of $78.78 and a 1-year high of $218.28. The company has a market cap of $9.70 billion, a PE ratio of 165.48, a PEG ratio of 2.75 and a beta of 1.53.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date of this dividend is Friday, September 13th. Universal Display’s payout ratio is presently 32.26%.
In other news, VP Mauro Premutico sold 14,076 shares of Universal Display stock in a transaction dated 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 owns 51,989 shares in the company, valued at approximately $9,106,393.24. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Julia J. Brown sold 25,477 shares of Universal Display stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $200.00, for a total value of $5,095,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 110,983 shares of company stock valued at $20,374,991 in the last ninety days. Insiders own 3.70% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Meridian Wealth Management LLC bought a new stake in Universal Display in the 1st quarter worth approximately $31,000. TCI Wealth Advisors Inc. lifted its position 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 buying an additional 175 shares during the last quarter. Weaver Consulting Group bought a new stake in Universal Display in the 1st quarter worth approximately $39,000. Regal Investment Advisors LLC bought a new stake in Universal Display in the 1st quarter worth approximately $50,000. Finally, Pearl River Capital LLC lifted its position in Universal Display by 251.4% in the 1st quarter. Pearl River Capital LLC now owns 390 shares of the semiconductor company’s stock worth $60,000 after buying an additional 279 shares during the last quarter. Hedge funds and other institutional investors own 75.52% 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.