Universal Display Co. (NASDAQ:OLED) Sees Significant Decrease in Short Interest
Universal Display Co. (NASDAQ:OLED – Get Free Report) was the recipient of a large decrease in short interest in November. As of November 15th, there was short interest totalling 1,050,000 shares, a decrease of 17.3% from the October 31st total of 1,270,000 shares. Currently, 2.4% of the shares of the stock are sold short. Based on an average daily volume of 306,500 shares, the days-to-cover ratio is presently 3.4 days.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on OLED shares. Bank of America upped their price objective on Universal Display from $145.00 to $165.00 and gave the stock a “neutral” rating in a report on Friday, August 4th. Needham & Company LLC restated a “buy” rating and set a $175.00 price target on shares of Universal Display in a research report on Wednesday, September 13th. TD Cowen raised their price target on Universal Display from $150.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, August 7th. StockNews.com assumed coverage on Universal Display in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Roth Mkm reduced their price target on Universal Display from $196.00 to $176.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Universal Display has a consensus rating of “Moderate Buy” and a consensus price target of $168.10.
View Our Latest Report on Universal Display
Insider Transactions at Universal Display
In other news, SVP Mauro Premutico sold 9,351 shares of the company’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $161.17, for a total value of $1,507,100.67. Following the completion of the transaction, the senior vice president now directly owns 33,220 shares in the company, valued at approximately $5,354,067.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.90% of the company’s stock.
Institutional Trading of Universal Display
Several hedge funds have recently bought and sold shares of the stock. WealthPLAN Partners LLC purchased a new position in shares of Universal Display in the first quarter valued at about $31,000. Orion Capital Management LLC purchased a new position in shares of Universal Display in the third quarter valued at about $31,000. Tyler Stone Wealth Management purchased a new position in shares of Universal Display in the second quarter valued at about $43,000. Financial Gravity Asset Management Inc. purchased a new position in shares of Universal Display in the second quarter valued at about $45,000. Finally, Signaturefd LLC lifted its position in shares of Universal Display by 26.1% in the second quarter. Signaturefd LLC now owns 353 shares of the semiconductor company’s stock valued at $51,000 after acquiring an additional 73 shares in the last quarter. Institutional investors own 75.92% of the company’s stock.
Universal Display Trading Up 4.2 %
NASDAQ OLED traded up $7.15 on Friday, hitting $176.35. The company’s stock had a trading volume of 488,354 shares, compared to its average volume of 305,070. The firm has a market cap of $8.35 billion, a P/E ratio of 40.92, a PEG ratio of 1.88 and a beta of 1.41. The company’s 50-day simple moving average is $156.74 and its 200 day simple moving average is $151.88. Universal Display has a 52-week low of $103.32 and a 52-week high of $177.28.
Universal Display (NASDAQ:OLED – Get Free Report) last issued its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.99 by $0.09. Universal Display had a return on equity of 15.57% and a net margin of 35.11%. The company had revenue of $141.08 million during the quarter, compared to analyst estimates of $146.39 million. On average, research analysts forecast that Universal Display will post 4.1 EPS for the current fiscal year.
Universal Display Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.79%. The ex-dividend date is Thursday, December 14th. Universal Display’s dividend payout ratio is presently 32.48%.
About Universal Display (Get Free Report)
Universal Display Corporation engages 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 offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.
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