Universal Display (OLED) Coverage Initiated at Evercore ISI

Evercore ISI started coverage on shares of Universal Display (NASDAQ:OLED) in a research note issued to investors on Thursday morning, Marketbeat.com reports. The firm issued an outperform rating and a $225.00 price target on the semiconductor company’s stock.

A number of other research analysts also recently weighed in on OLED. Goldman Sachs Group restated a buy rating and set a $150.00 price target (up previously from $140.00) on shares of Universal Display in a report on Wednesday, August 9th. Susquehanna Bancshares reiterated a positive rating and issued a $150.00 target price (up previously from $120.00) on shares of Universal Display in a report on Wednesday, August 9th. Oppenheimer reiterated a market perform rating on shares of Universal Display in a report on Wednesday, August 9th. BidaskClub downgraded shares of Universal Display from a hold rating to a sell rating in a report on Saturday, August 12th. Finally, Zacks Investment Research upgraded shares of Universal Display from a hold rating to a strong-buy rating and set a $136.00 target price on the stock in a report on Thursday, August 10th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Universal Display presently has an average rating of Hold and a consensus price target of $151.30.

Shares of Universal Display (NASDAQ OLED) opened at $176.70 on Thursday. The stock has a market cap of $8,312.07, a P/E ratio of 86.62 and a beta of 1.06. Universal Display has a 12-month low of $53.65 and a 12-month high of $192.75.

Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.19. The business had revenue of $61.70 million for the quarter, compared to the consensus estimate of $47.35 million. Universal Display had a net margin of 32.92% and a return on equity of 16.67%. Universal Display’s revenue for the quarter was up 104.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.03) EPS. sell-side analysts expect that Universal Display will post 2.33 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a $0.03 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.12 annualized dividend and a yield of 0.07%. Universal Display’s dividend payout ratio is 5.88%.

In other news, CFO Sidney D. Rosenblatt sold 50,240 shares of Universal Display stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $135.02, for a total transaction of $6,783,404.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Steven V. Abramson sold 18,744 shares of Universal Display stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $158.40, for a total transaction of $2,969,049.60. The disclosure for this sale can be found here. Insiders sold a total of 196,974 shares of company stock worth $30,133,174 over the last 90 days. Company insiders own 5.20% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Mitra Capital LLC bought a new position in Universal Display during the 2nd quarter valued at about $109,000. IFP Advisors Inc lifted its holdings in Universal Display by 307.5% during the 2nd quarter. IFP Advisors Inc now owns 1,080 shares of the semiconductor company’s stock valued at $118,000 after purchasing an additional 815 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Universal Display by 79.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,536 shares of the semiconductor company’s stock valued at $168,000 after purchasing an additional 680 shares during the last quarter. Daiwa Securities Group Inc. bought a new position in Universal Display during the 2nd quarter valued at about $197,000. Finally, CIBC Asset Management Inc bought a new position in Universal Display during the 3rd quarter valued at about $205,000. Institutional investors and hedge funds own 65.03% of the company’s stock.

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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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