Universal Display’s (OLED) Negative Rating Reaffirmed at Susquehanna Bancshares

Susquehanna Bancshares reaffirmed their negative rating on shares of Universal Display (NASDAQ:OLED) in a report issued on Thursday, The Fly reports.

OLED has been the subject of several other research reports. Deutsche Bank set a $230.00 price target on Universal Display and gave the stock a buy rating in a research report on Friday, August 16th. BidaskClub lowered Universal Display from a strong-buy rating to a buy rating in a research report on Sunday, August 18th. ValuEngine lowered Universal Display from a strong-buy rating to a buy rating in a research report on Friday, August 2nd. Berenberg Bank started coverage on Universal Display in a research report on Wednesday, July 24th. They issued a hold rating and a $192.00 target price for the company. Finally, Oppenheimer lowered Universal Display from an outperform rating to a market perform rating and set a $190.50 target price for the company. in a research report on Wednesday, July 10th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $183.29.

Shares of OLED traded down $2.85 during trading hours on Thursday, hitting $180.64. The company had a trading volume of 51,659 shares, compared to its average volume of 594,457. The firm has a fifty day moving average price of $209.64 and a 200-day moving average price of $178.29. The stock has a market capitalization of $8.96 billion, a price-to-earnings ratio of 145.75, a P/E/G ratio of 2.36 and a beta of 1.53. Universal Display has a 52-week low of $78.78 and a 52-week high of $230.32.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.46. The firm had revenue of $118.17 million during the quarter, compared to analyst estimates of $79.26 million. Universal Display had a return on equity of 16.52% and a net margin of 33.08%. Universal Display’s quarterly revenue was up 110.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.23 EPS. On average, sell-side analysts predict that Universal Display will post 2.68 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.22%. The ex-dividend date is Friday, September 13th. Universal Display’s payout ratio is currently 32.26%.

In other news, insider Steven V. Abramson sold 30,000 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $179.64, for a total transaction of $5,389,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sidney D. Rosenblatt sold 33,930 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $182.23, for a total transaction of $6,183,063.90. The disclosure for this sale can be found here. Insiders have sold a total of 194,907 shares of company stock valued at $39,103,772 in the last ninety days. Insiders own 3.70% of the company’s stock.

Several large investors have recently made changes to their positions in OLED. Meridian Wealth Management LLC bought a new position in shares of Universal Display during the 1st quarter valued at approximately $31,000. TCI Wealth Advisors Inc. grew its stake in shares of Universal Display by 1,458.3% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 187 shares of the semiconductor company’s stock valued at $35,000 after acquiring an additional 175 shares during the period. HM Payson & Co. bought a new position in shares of Universal Display during the 2nd quarter valued at approximately $38,000. Weaver Consulting Group bought a new position in shares of Universal Display during the 1st quarter valued at approximately $39,000. Finally, Capital Investment Advisory Services LLC grew its stake in shares of Universal Display by 94.0% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 194 shares of the semiconductor company’s stock valued at $40,000 after acquiring an additional 94 shares during the period. Institutional investors own 69.34% of the company’s stock.

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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The Fly

Analyst Recommendations for Universal Display (NASDAQ:OLED)

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