Wall Street analysts forecast that Universal Display Co. (NASDAQ:OLED) will report $84.73 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Universal Display’s earnings. The highest sales estimate is $91.50 million and the lowest is $80.89 million. Universal Display reported sales of $77.55 million during the same quarter last year, which indicates a positive year-over-year growth rate of 9.3%. The firm is scheduled to report its next earnings results on Thursday, November 7th.
According to Zacks, analysts expect that Universal Display will report full year sales of $381.11 million for the current year, with estimates ranging from $379.50 million to $383.30 million. For the next fiscal year, analysts anticipate that the business will report sales of $496.22 million, with estimates ranging from $481.10 million to $507.00 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Universal Display.
Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, August 1st. The semiconductor company reported $0.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.46. The firm had revenue of $118.17 million during the quarter, compared to analysts’ expectations of $79.26 million. Universal Display had a net margin of 33.08% and a return on equity of 16.52%. Universal Display’s revenue for the quarter was up 110.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.23 EPS.
Several analysts have recently issued reports on the stock. Berenberg Bank assumed coverage on shares of Universal Display in a research note on Wednesday, July 24th. They set a “hold” rating and a $192.00 price objective for the company. Oppenheimer cut shares of Universal Display from an “outperform” rating to a “market perform” rating and set a $190.50 price objective for the company. in a research note on Wednesday, July 10th. They noted that the move was a valuation call. ValuEngine cut shares of Universal Display from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 2nd. BidaskClub cut shares of Universal Display from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 18th. Finally, Citigroup upped their price target on shares of Universal Display from $180.00 to $223.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Universal Display has a consensus rating of “Hold” and a consensus target price of $183.29.
In other news, VP Mauro Premutico sold 14,076 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $175.16, for a total value of $2,465,552.16. Following the completion of the transaction, the vice president now directly owns 51,989 shares in the company, valued at $9,106,393.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director C Keith Hartley sold 10,528 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $214.27, for a total transaction of $2,255,834.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 177,801 shares of company stock valued at $34,646,297. 3.70% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Treasurer of the State of North Carolina boosted its holdings in shares of Universal Display by 1.1% in the second quarter. Treasurer of the State of North Carolina now owns 17,778 shares of the semiconductor company’s stock valued at $3,343,000 after acquiring an additional 192 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Universal Display by 0.6% in the second quarter. BlackRock Inc. now owns 3,823,204 shares of the semiconductor company’s stock valued at $718,991,000 after acquiring an additional 23,953 shares in the last quarter. Cresset Asset Management LLC boosted its holdings in shares of Universal Display by 74.8% in the second quarter. Cresset Asset Management LLC now owns 1,984 shares of the semiconductor company’s stock valued at $373,000 after acquiring an additional 849 shares in the last quarter. Griffin Asset Management Inc. lifted its stake in Universal Display by 24.5% during the second quarter. Griffin Asset Management Inc. now owns 618,209 shares of the semiconductor company’s stock valued at $116,260,000 after purchasing an additional 121,475 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Universal Display during the second quarter valued at approximately $41,000. Institutional investors and hedge funds own 74.80% of the company’s stock.
OLED stock opened at $207.78 on Monday. The stock has a market capitalization of $9.66 billion, a P/E ratio of 167.56, a PEG ratio of 2.55 and a beta of 1.53. Universal Display has a one year low of $78.78 and a one year high of $218.28. The company has a 50 day moving average price of $207.93 and a two-hundred day moving average price of $171.94.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.19%. The ex-dividend date of this dividend is Friday, September 13th. Universal Display’s dividend payout ratio (DPR) is 32.26%.
Universal Display Company Profile
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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