Universal Display Corporation (NASDAQ:OLED) released its quarterly earnings results on Thursday. The semiconductor company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.19, Briefing.com reports. The business had revenue of $61.70 million for the quarter, compared to analysts’ expectations of $47.35 million. Universal Display Corporation had a net margin of 32.92% and a return on equity of 17.08%. The firm’s revenue for the quarter was up 104.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.03) earnings per share.
Universal Display Corporation (NASDAQ:OLED) traded up $15.40 on Friday, hitting $158.10. The stock had a trading volume of 3,415,847 shares, compared to its average volume of 710,422. The stock has a market cap of $6.79 billion, a PE ratio of 70.76 and a beta of 1.03.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.08%. The ex-dividend date of this dividend is Thursday, December 14th. Universal Display Corporation’s dividend payout ratio is presently 5.88%.
In other news, CFO Sidney D. Rosenblatt sold 50,240 shares of Universal Display Corporation stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $135.02, for a total value of $6,783,404.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.20% of the stock is owned by insiders.
Several analysts recently weighed in on OLED shares. Cowen and Company set a $140.00 price target on shares of Universal Display Corporation and gave the company a “buy” rating in a report on Wednesday, October 11th. Zacks Investment Research cut shares of Universal Display Corporation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 17th. Cross Research cut shares of Universal Display Corporation from a “buy” rating to a “hold” rating in a report on Tuesday. Summit Redstone reissued a “hold” rating and set a $95.00 price objective on shares of Universal Display Corporation in a research report on Tuesday, August 1st. Finally, Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $161.00 price objective (up previously from $150.00) on shares of Universal Display Corporation in a research report on Monday, September 18th. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $134.78.
Universal Display Corporation Company Profile
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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