Universal Display Co. (NASDAQ:OLED) saw a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 1,919,400 shares, a decrease of 13.4% from the July 31st total of 2,216,200 shares. Currently, 4.5% of the company’s shares are sold short. Based on an average daily trading volume, of 601,800 shares, the days-to-cover ratio is presently 3.2 days.

Shares of OLED traded down $2.76 during mid-day trading on Friday, hitting $180.73. 487,254 shares of the company’s stock were exchanged, compared to its average volume of 758,465. The company has a market cap of $8.96 billion, a price-to-earnings ratio of 145.75, a P/E/G ratio of 2.36 and a beta of 1.53. Universal Display has a fifty-two week low of $78.78 and a fifty-two week high of $230.32. The stock’s 50-day moving average is $209.64 and its 200-day moving average is $178.29.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.46. The business had revenue of $118.17 million for 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%. The business’s quarterly revenue was up 110.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 earnings per share. As a group, research analysts predict that Universal Display will post 2.68 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.22%. Universal Display’s payout ratio is 32.26%.

OLED has been the topic of a number of recent analyst reports. Citigroup upped their target price on shares of Universal Display from $180.00 to $223.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Susquehanna Bancshares reissued a “negative” rating on shares of Universal Display in a research report on Thursday. Deutsche Bank set a $230.00 price target on shares of Universal Display and gave the stock a “buy” rating in a research report on Friday, August 16th. Needham & Company LLC cut shares of Universal Display from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, Roth Capital increased their price target on shares of Universal Display from $172.00 to $206.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $183.29.

In other Universal Display news, CEO Steven V. Abramson sold 31,182 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $222.02, for a total value of $6,923,027.64. Following the transaction, the chief executive officer now owns 146,493 shares of the company’s stock, valued at $32,524,375.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director C Keith Hartley sold 10,528 shares of the company’s stock in a transaction dated 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. Insiders sold 194,907 shares of company stock worth $39,103,772 in the last ninety days. 3.70% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in OLED. Prudential Financial Inc. increased its stake in shares of Universal Display by 1,315.1% during the second quarter. Prudential Financial Inc. now owns 355,338 shares of the semiconductor company’s stock worth $66,825,000 after buying an additional 330,228 shares during the period. Nuveen Asset Management LLC purchased a new stake in shares of Universal Display during the second quarter worth approximately $61,236,000. FMR LLC increased its stake in shares of Universal Display by 156,745.0% during the first quarter. FMR LLC now owns 202,330 shares of the semiconductor company’s stock worth $30,926,000 after buying an additional 202,201 shares during the period. First Trust Advisors LP increased its stake in shares of Universal Display by 304.8% during the second quarter. First Trust Advisors LP now owns 172,277 shares of the semiconductor company’s stock worth $32,398,000 after buying an additional 129,717 shares during the period. Finally, Griffin Asset Management Inc. increased its stake in shares of Universal Display by 24.5% during the second quarter. Griffin Asset Management Inc. now owns 618,209 shares of the semiconductor company’s stock worth $116,260,000 after buying an additional 121,475 shares during the period. Hedge funds and other institutional investors own 69.34% of the company’s stock.

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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