Universal Display Co. (NASDAQ:OLED) – Stock analysts at Oppenheimer decreased their Q2 2018 EPS estimates for Universal Display in a report released on Wednesday, according to Zacks Investment Research. Oppenheimer analyst A. Uerkwitz now expects that the semiconductor company will post earnings per share of $0.41 for the quarter, down from their previous forecast of $0.53. Oppenheimer also issued estimates for Universal Display’s Q4 2018 earnings at $0.98 EPS.
Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, February 22nd. The semiconductor company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.82 by $0.11. The company had revenue of $115.87 million during the quarter, compared to analyst estimates of $99.55 million. Universal Display had a net margin of 30.95% and a return on equity of 18.80%. Universal Display’s quarterly revenue was up 55.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.55 earnings per share.
Several other research analysts have also commented on OLED. Goldman Sachs set a $190.00 price objective on shares of Universal Display and gave the stock a “buy” rating in a research note on Tuesday. Zacks Investment Research lowered shares of Universal Display from a “hold” rating to a “sell” rating in a research note on Wednesday. ValuEngine lowered shares of Universal Display from a “hold” rating to a “sell” rating in a research note on Monday. BidaskClub lowered shares of Universal Display from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 15th. Finally, Evercore ISI began coverage on shares of Universal Display in a research note on Thursday, November 30th. They set an “outperform” rating and a $225.00 target price for the company. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $169.73.
Universal Display stock traded down $4.95 during midday trading on Thursday, reaching $105.25. 1,342,982 shares of the company’s stock traded hands, compared to its average volume of 1,758,477. The stock has a market capitalization of $5,408.46, a price-to-earnings ratio of 48.28 and a beta of 1.08. Universal Display has a 52 week low of $80.20 and a 52 week high of $209.00.
Hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE raised its holdings in shares of Universal Display by 4,188.2% in the fourth quarter. US Bancorp DE now owns 729 shares of the semiconductor company’s stock valued at $126,000 after acquiring an additional 712 shares in the last quarter. Cerebellum GP LLC bought a new stake in shares of Universal Display in the fourth quarter valued at about $129,000. Aevitas Wealth Management Inc. bought a new stake in shares of Universal Display in the fourth quarter valued at about $165,000. Glassman Wealth Services raised its holdings in shares of Universal Display by 60.7% in the fourth quarter. Glassman Wealth Services now owns 961 shares of the semiconductor company’s stock valued at $166,000 after acquiring an additional 363 shares in the last quarter. Finally, American International Group Inc. bought a new stake in shares of Universal Display in the fourth quarter valued at about $170,000. Hedge funds and other institutional investors own 62.99% of the company’s stock.
In related news, Chairman Sherwin I. Seligsohn sold 50,000 shares of Universal Display stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $200.00, for a total value of $10,000,000.00. Following the completion of the sale, the chairman now directly owns 143,119 shares in the company, valued at $28,623,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard C. Elias sold 2,250 shares of Universal Display stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $129.60, for a total value of $291,600.00. The disclosure for this sale can be found here. Insiders have sold 54,750 shares of company stock valued at $10,601,775 over the last three months. Insiders own 5.20% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Thursday, March 15th will be paid a dividend of $0.06 per share. This is a positive change from Universal Display’s previous quarterly dividend of $0.03. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend is Wednesday, March 14th. Universal Display’s payout ratio is currently 11.01%.
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About Universal Display
Universal Display Corporation is engaged in the research, development and commercialization of organic light emitting diode (OLED), technologies and materials for use in display and solid-state lighting applications. The Company also supplies its OLED materials to manufacturers of OLED displays and lighting products for evaluation and for use in product development and for pre-commercial activities, and it also provides technical assistance and support to these manufacturers.
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