Insider Selling: Universal Display Corporation (OLED) Insider Sells 18,744 Shares of Stock
Universal Display Corporation (NASDAQ:OLED) insider Steven V. Abramson sold 18,744 shares of Universal Display Corporation stock in a transaction on Monday, November 6th. The stock was sold at an average price of $158.40, for a total value of $2,969,049.60. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Universal Display Corporation (NASDAQ OLED) traded up $4.17 during mid-day trading on Tuesday, reaching $167.58. The company had a trading volume of 1,057,612 shares, compared to its average volume of 840,791. The firm has a market capitalization of $7,870.00, a P/E ratio of 77.50 and a beta of 1.03. Universal Display Corporation has a fifty-two week low of $52.10 and a fifty-two week high of $167.85.
Universal Display Corporation (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.19. The business had revenue of $61.70 million during the quarter, compared to the consensus estimate of $47.35 million. Universal Display Corporation had a return on equity of 16.67% and a net margin of 32.92%. Universal Display Corporation’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 firm earned ($0.03) earnings per share. analysts predict that Universal Display Corporation will post 2.27 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.07%. The ex-dividend date is Thursday, December 14th. Universal Display Corporation’s dividend payout ratio (DPR) is presently 5.74%.
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A number of research firms have recently weighed in on OLED. Needham & Company LLC reissued a “hold” rating on shares of Universal Display Corporation in a report on Friday. Gabelli downgraded Universal Display Corporation from a “buy” rating to a “hold” rating and set a $134.00 target price for the company. in a report on Friday. Zacks Investment Research raised Universal Display Corporation from a “hold” rating to a “strong-buy” rating and set a $168.00 target price for the company in a report on Thursday, November 2nd. Cowen and Company set a $150.00 target price on Universal Display Corporation and gave the stock a “buy” rating in a report on Wednesday, November 1st. Finally, Cross Research downgraded Universal Display Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $134.78.
Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE raised its stake in Universal Display Corporation by 33.4% during the first quarter. Bank of America Corp DE now owns 72,951 shares of the semiconductor company’s stock worth $6,281,000 after acquiring an additional 18,272 shares in the last quarter. BKS Advisors LLC acquired a new position in Universal Display Corporation during the second quarter worth about $2,318,000. Westwood Management Corp IL raised its stake in Universal Display Corporation by 70.0% during the second quarter. Westwood Management Corp IL now owns 17,000 shares of the semiconductor company’s stock worth $1,857,000 after acquiring an additional 7,000 shares in the last quarter. Balyasny Asset Management LLC acquired a new position in Universal Display Corporation during the second quarter worth about $3,673,000. Finally, Neuberger Berman Group LLC raised its stake in Universal Display Corporation by 18.2% during the second quarter. Neuberger Berman Group LLC now owns 606,472 shares of the semiconductor company’s stock worth $66,257,000 after acquiring an additional 93,223 shares in the last quarter. 63.97% of the stock is owned by hedge funds and other institutional investors.
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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