Insider Selling: Universal Display Corp. (OLED) Director Sells 5,000 Shares of Stock
Universal Display Corp. (NASDAQ:OLED) Director Leonard Becker sold 5,000 shares of Universal Display Corp. stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $61.11, for a total value of $305,550.00. Following the completion of the transaction, the director now directly owns 19,650 shares in the company, valued at $1,200,811.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Universal Display Corp. (NASDAQ:OLED) opened at 59.71 on Wednesday. The stock’s 50 day moving average price is $60.96 and its 200 day moving average price is $61.31. The stock has a market capitalization of $2.80 billion, a PE ratio of 58.31 and a beta of 0.99. Universal Display Corp. has a 1-year low of $32.47 and a 1-year high of $74.39.
Universal Display Corp. (NASDAQ:OLED) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by $0.04. The business earned $64.40 million during the quarter, compared to the consensus estimate of $68.68 million. Universal Display Corp. had a return on equity of 10.15% and a net margin of 24.96%. The business’s revenue was up 10.8% on a year-over-year basis. During the same period last year, the company earned $0.41 EPS. On average, equities research analysts predict that Universal Display Corp. will post $0.89 earnings per share for the current fiscal year.
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Institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC purchased a new position in shares of Universal Display Corp. during the second quarter worth approximately $104,000. Kelly Lawrence W & Associates Inc. CA purchased a new position in shares of Universal Display Corp. during the second quarter worth approximately $108,000. BNP Paribas Arbitrage SA raised its position in shares of Universal Display Corp. by 5,356.7% in the second quarter. BNP Paribas Arbitrage SA now owns 1,637 shares of the company’s stock worth $111,000 after buying an additional 1,607 shares during the last quarter. Societe Generale purchased a new position in shares of Universal Display Corp. during the second quarter worth approximately $117,000. Finally, BlackRock Inc. raised its position in shares of Universal Display Corp. by 66.6% in the first quarter. BlackRock Inc. now owns 2,993 shares of the company’s stock worth $162,000 after buying an additional 1,197 shares during the last quarter. 67.54% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have commented on the company. Needham & Company LLC lifted their price target on Universal Display Corp. from $62.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, May 25th. Canaccord Genuity reaffirmed a “hold” rating on shares of Universal Display Corp. in a research note on Tuesday, June 28th. Cowen and Company reaffirmed a “buy” rating on shares of Universal Display Corp. in a research note on Wednesday, June 29th. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Universal Display Corp. in a research note on Thursday, June 16th. Finally, Zacks Investment Research cut Universal Display Corp. from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Universal Display Corp. has an average rating of “Hold” and an average price target of $58.00.
Universal Display Corp. 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 displays for wearables, smartphones, tablets and televisions, as well as solid-state lighting applications. The Company’s flat panel displays are used for various portable consumer electronics products, such as mobile phones, wearables, portable media devices, digital cameras, tablets and notebook computers.
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