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.
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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.
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