Universal Display Co. (OLED) Chairman Sells $10,000,000.00 in Stock
Universal Display Co. (NASDAQ:OLED) Chairman Sherwin I. Seligsohn sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $200.00, for a total transaction of $10,000,000.00. Following the completion of the transaction, the chairman now owns 143,119 shares of the company’s stock, valued at approximately $28,623,800. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Universal Display Co. (OLED) traded up $1.80 on Tuesday, reaching $198.40. 956,134 shares of the company’s stock were exchanged, compared to its average volume of 877,973. Universal Display Co. has a 12-month low of $56.15 and a 12-month high of $203.30. The firm has a market cap of $9,330.00, a price-to-earnings ratio of 94.93 and a beta of 1.07.
Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, November 2nd. The semiconductor company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.19. Universal Display had a net margin of 32.92% and a return on equity of 16.67%. The firm had revenue of $61.70 million during the quarter, compared to analyst estimates of $47.35 million. During the same quarter in the previous year, the business earned ($0.03) EPS. The business’s quarterly revenue was up 104.3% compared to the same quarter last year. research analysts anticipate that Universal Display Co. will post 2.33 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the company. Mitra Capital LLC acquired a new position in shares of Universal Display in the 2nd quarter valued at $109,000. BNP Paribas Arbitrage SA grew its holdings in shares of Universal Display by 79.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,536 shares of the semiconductor company’s stock valued at $168,000 after buying an additional 680 shares during the period. CIBC Asset Management Inc acquired a new position in shares of Universal Display in the 3rd quarter valued at $205,000. Comerica Bank acquired a new position in shares of Universal Display in the 3rd quarter valued at $221,000. Finally, Ballentine Partners LLC acquired a new position in shares of Universal Display in the 3rd quarter valued at $209,000. 64.87% of the stock is owned by institutional investors.
Several research firms recently weighed in on OLED. Zacks Investment Research cut shares of Universal Display from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Evercore ISI initiated coverage on shares of Universal Display in a report on Thursday, November 30th. They set an “outperform” rating and a $225.00 target price for the company. Susquehanna Bancshares lifted their target price on shares of Universal Display from $195.00 to $215.00 and gave the stock a “positive” rating in a report on Friday, January 5th. Cowen reaffirmed an “outperform” rating and set a $195.00 target price (up previously from $155.00) on shares of Universal Display in a report on Friday, November 10th. Finally, Deutsche Bank lifted their target price on shares of Universal Display to $190.00 and gave the stock a “buy” rating in a report on Friday, December 8th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $161.50.
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About Universal Display
Universal Display Corporation is engaged 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 also supplies its OLED materials to manufacturers of OLED displays and lighting products for evaluation and for use in product development and for pre-commercial activities, and it also provides technical assistance and support to these manufacturers.
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