Universal Display (OLED) Reaches New 12-Month High Following Earnings Beat

Share on StockTwits

Universal Display Co. (NASDAQ:OLED) shares hit a new 52-week high during trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $144.89 and last traded at $144.25, with a volume of 216042 shares trading hands. The stock had previously closed at $118.48.

The semiconductor company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.34 by $0.06. The business had revenue of $70.14 million for the quarter, compared to analyst estimates of $70.18 million. Universal Display had a net margin of 24.70% and a return on equity of 12.77%. The company’s quarterly revenue was down 39.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.93 earnings per share.

Several analysts have recently commented on the stock. Needham & Company LLC increased their price target on shares of Universal Display from $105.00 to $140.00 and gave the company a “buy” rating in a research report on Friday. Deutsche Bank increased their price target on shares of Universal Display to $140.00 in a research report on Friday. UBS Group reiterated an “outperform” rating and issued a $140.00 price target on shares of Universal Display in a research report on Friday. BidaskClub upgraded shares of Universal Display from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 9th. Finally, ValuEngine downgraded shares of Universal Display from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $142.00.

In other Universal Display news, Director Rosemarie B. Greco sold 3,750 shares of the stock in a transaction that occurred on Friday, November 30th. The shares were sold at an average price of $91.39, for a total transaction of $342,712.50. Following the transaction, the director now owns 9,450 shares of the company’s stock, valued at $863,635.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.00% of the company’s stock.

Large investors have recently bought and sold shares of the business. Ropes Wealth Advisors LLC purchased a new position in Universal Display during the fourth quarter worth approximately $25,000. Sontag Advisory LLC purchased a new position in Universal Display during the fourth quarter worth approximately $37,000. Carroll Financial Associates Inc. purchased a new position in Universal Display during the fourth quarter worth approximately $42,000. CI Investments Inc. purchased a new position in Universal Display during the fourth quarter worth approximately $65,000. Finally, First Hawaiian Bank purchased a new position in Universal Display during the third quarter worth approximately $106,000. 84.15% of the stock is currently owned by institutional investors.

The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of 59.91, a P/E/G ratio of 2.01 and a beta of 1.29.

COPYRIGHT VIOLATION NOTICE: “Universal Display (OLED) Reaches New 12-Month High Following Earnings Beat” was published by Macon Daily and is the sole property of of Macon Daily. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of U.S. and international copyright and trademark law. The legal version of this piece of content can be viewed at https://macondaily.com/2019/02/22/universal-display-oled-reaches-new-12-month-high-following-earnings-beat.html.

About Universal Display (NASDAQ:OLED)

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 22, 2018, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 4,500 issued and pending patents worldwide.

Recommended Story: Candlestick

Receive News & Ratings for Universal Display Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Display and related companies with MarketBeat.com's FREE daily email newsletter.