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.
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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