Insider Selling: Universal Display Co. (NASDAQ:OLED) Insider Sells $5,095,400.00 in Stock
Universal Display Co. (NASDAQ:OLED) insider Julia J. Brown sold 25,477 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $200.00, for a total value of $5,095,400.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of NASDAQ OLED opened at $206.64 on Friday. Universal Display Co. has a 1 year low of $78.78 and a 1 year high of $207.03. The stock’s 50 day moving average price is $179.75. The firm has a market capitalization of $9.63 billion, a price-to-earnings ratio of 166.65, a P/E/G ratio of 2.78 and a beta of 1.55.
Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.40. The company had revenue of $87.80 million for the quarter, compared to the consensus estimate of $64.59 million. Universal Display had a net margin of 28.93% and a return on equity of 12.35%. Universal Display’s revenue was up 101.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.13 earnings per share. Analysts predict that Universal Display Co. will post 2.44 EPS for the current fiscal year.
A number of equities analysts recently issued reports on OLED shares. Oppenheimer raised their target price on Costco Wholesale from $270.00 to $295.00 in a research note on Wednesday, July 10th. Susquehanna Bancshares reissued a “neutral” rating and issued a $180.00 target price on shares of Universal Display in a research note on Monday, April 29th. Citigroup reissued a “buy” rating on shares of Healthequity in a research note on Friday, May 10th. Zacks Investment Research lowered shares of GenMark Diagnostics from a “hold” rating to a “sell” rating in a research report on Wednesday, April 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price target (up previously from $200.00) on shares of Universal Display in a research report on Friday, July 12th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $168.22.
A number of institutional investors have recently added to or reduced their stakes in OLED. Norges Bank acquired a new position in shares of Universal Display in the 4th quarter valued at about $40,599,000. Bank of New York Mellon Corp raised its holdings in shares of Universal Display by 178.8% in the 4th quarter. Bank of New York Mellon Corp now owns 455,871 shares of the semiconductor company’s stock worth $42,656,000 after purchasing an additional 292,382 shares in the last quarter. FMR LLC raised its holdings in shares of Universal Display by 156,745.0% in the 1st quarter. FMR LLC now owns 202,330 shares of the semiconductor company’s stock worth $30,926,000 after purchasing an additional 202,201 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Universal Display by 7,230.1% in the fourth quarter. Principal Financial Group Inc. now owns 182,374 shares of the semiconductor company’s stock worth $17,065,000 after acquiring an additional 179,886 shares in the last quarter. Finally, Deutsche Bank AG increased its position in shares of Universal Display by 160.2% in the fourth quarter. Deutsche Bank AG now owns 276,313 shares of the semiconductor company’s stock worth $25,852,000 after acquiring an additional 170,117 shares in the last quarter. 76.16% of the stock is currently owned by hedge funds and other institutional investors.
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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