Universal Display Co. (NASDAQ:OLED) Sees Large Increase in Short Interest

Universal Display Co. (NASDAQ:OLED) saw a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 1,760,000 shares, a growth of 21.4% from the April 30th total of 1,450,000 shares. Approximately 4.0% of the company’s stock are short sold. Based on an average daily trading volume, of 762,300 shares, the short-interest ratio is presently 2.3 days.

Wall Street Analysts Forecast Growth

OLED has been the subject of a number of analyst reports. Citigroup reduced their price target on Universal Display from $200.00 to $162.00 and set a “neutral” rating for the company in a report on Monday, February 10th. Wall Street Zen raised Universal Display from a “sell” rating to a “hold” rating in a report on Friday, May 2nd. Roth Mkm increased their price target on Universal Display from $207.00 to $213.00 and gave the company a “buy” rating in a report on Friday, February 21st. The Goldman Sachs Group reduced their price target on Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Finally, Susquehanna reduced their price target on Universal Display from $165.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $190.43.

Universal Display Stock Up 2.5%

NASDAQ:OLED opened at $150.16 on Wednesday. The business’s 50 day moving average is $133.36 and its two-hundred day moving average is $145.87. Universal Display has a 52 week low of $103.70 and a 52 week high of $237.00. The company has a market cap of $7.14 billion, a PE ratio of 32.29, a P/E/G ratio of 1.61 and a beta of 1.46.

Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, May 1st. The semiconductor company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.28. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. The company had revenue of $166.28 million for the quarter, compared to the consensus estimate of $154.76 million. During the same quarter last year, the business posted $1.19 EPS. Universal Display’s quarterly revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts expect that Universal Display will post 4.71 EPS for the current fiscal year.

Universal Display Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend is Monday, June 16th. Universal Display’s dividend payout ratio (DPR) is 37.42%.

Institutional Trading of Universal Display

Hedge funds have recently made changes to their positions in the stock. Rise Advisors LLC lifted its holdings in shares of Universal Display by 87.9% in the 1st quarter. Rise Advisors LLC now owns 186 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 87 shares during the last quarter. Orion Capital Management LLC bought a new stake in shares of Universal Display in the 4th quarter worth approximately $29,000. Brown Brothers Harriman & Co. lifted its holdings in shares of Universal Display by 280.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 209 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 154 shares during the last quarter. Golden State Wealth Management LLC increased its position in Universal Display by 4,700.0% in the 1st quarter. Golden State Wealth Management LLC now owns 240 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 235 shares during the period. Finally, Blue Trust Inc. increased its position in Universal Display by 401.9% in the 4th quarter. Blue Trust Inc. now owns 261 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 209 shares during the period. Institutional investors own 78.19% 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 display and solid-state lighting applications in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.