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

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Universal Display Co. (NASDAQ:OLED) CEO Steven V. Abramson sold 31,182 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $222.02, for a total transaction of $6,923,027.64. Following the completion of the sale, the chief executive officer now owns 146,493 shares of the company’s stock, valued at $32,524,375.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of OLED opened at $193.16 on Thursday. Universal Display Co. has a 12-month low of $78.78 and a 12-month high of $230.32. The firm has a 50-day moving average price of $209.64 and a 200 day moving average price of $178.29. The firm has a market capitalization of $9.94 billion, a P/E ratio of 155.77, a P/E/G ratio of 2.62 and a beta of 1.53.

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

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.40 annualized dividend and a dividend yield of 0.21%. Universal Display’s dividend payout ratio (DPR) is 32.26%.

Several hedge funds and other institutional investors have recently made changes to their positions in OLED. Primecap Management Co. CA lifted its holdings in Universal Display by 1.2% in the first 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 during the last quarter. BlackRock Inc. increased its stake in Universal Display by 0.6% during the second quarter. BlackRock Inc. now owns 3,823,204 shares of the semiconductor company’s stock worth $718,991,000 after acquiring an additional 23,953 shares during the last quarter. Neuberger Berman Group LLC increased its stake in Universal Display by 1.4% during the first quarter. Neuberger Berman Group LLC now owns 1,357,193 shares of the semiconductor company’s stock worth $207,447,000 after acquiring an additional 19,187 shares during the last quarter. Griffin Asset Management Inc. raised its position in Universal Display by 24.5% in the second quarter. Griffin Asset Management Inc. now owns 618,209 shares of the semiconductor company’s stock valued at $116,260,000 after purchasing an additional 121,475 shares during the period. Finally, Geode Capital Management LLC raised its position in Universal Display by 8.1% in the fourth quarter. Geode Capital Management LLC now owns 431,907 shares of the semiconductor company’s stock valued at $40,413,000 after purchasing an additional 32,314 shares during the period. Institutional investors and hedge funds own 69.34% of the company’s stock.

A number of research firms recently weighed in on OLED. Oppenheimer lowered shares of Universal Display from an “outperform” rating to a “market perform” rating and set a $190.50 price target on the stock. in a research report on Wednesday, July 10th. They noted that the move was a valuation call. Roth Capital increased their price objective on shares of Universal Display from $172.00 to $206.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Needham & Company LLC downgraded shares of Universal Display from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Berenberg Bank assumed coverage on shares of Universal Display in a research note on Wednesday, July 24th. They issued a “hold” rating and a $192.00 target price on the stock. Finally, Deutsche Bank set a $230.00 target price on Universal Display and gave the stock a “buy” rating in a report on Friday, August 16th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target 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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