In a recent transaction, Julia J. Brown, the Executive Vice President & Chief Technical Officer of Universal Display Corp (NASDAQ:OLED), sold 10,358 shares of the company's stock. The sale was executed at a price of $175.00 per share, resulting in a total value of $1,812,650.
This transaction has adjusted Brown's holdings in Universal Display, leaving her with a total of 56,624 shares in the company. It is worth noting that this figure includes an additional 130 shares that were acquired under the Universal Display Corporation Employee Stock Purchase Plan on March 28, 2024, as indicated in the footnotes of the filing.
Universal Display Corporation, known for its development of organic light-emitting diode (OLED) technologies and materials, is a key player in the electronic components and accessories sector. The company's headquarters are located in Ewing, New Jersey.
Investors and followers of Universal Display Corp will be keeping a close eye on such transactions, as insider sales are often considered signals of the executives' perspectives on the company's future performance. However, it is important to consider that there may be various personal or financial reasons for an executive to sell shares.
The details of this transaction were disclosed in a Form 4 filing with the Securities and Exchange Commission, dated May 9, 2024.
InvestingPro Insights
Universal Display Corp (NASDAQ:OLED) has recently seen noteworthy insider activity, which can often provide deep insights into the company's prospects. In light of this, let's consider some real-time data and InvestingPro Tips that may help investors understand the broader context of such transactions.
InvestingPro Data highlights a stable financial position for Universal Display, with a market capitalization of $8.24 billion and a robust gross profit margin of 75.36% over the last twelve months as of Q1 2024. The company's revenue growth for the same period was modest at 2.45%, while the quarterly revenue growth in Q1 2024 was more significant at 26.67%.
In terms of valuation, Universal Display is trading at a high earnings multiple, with a P/E ratio of 37.71 and an adjusted P/E ratio for the last twelve months as of Q1 2024 at 37.52. This suggests a premium valuation, which is further underscored by a price/book ratio of 5.53.
From the InvestingPro Tips, two insights stand out. First, Universal Display holds more cash than debt on its balance sheet, which is indicative of financial health and may provide a cushion against market volatility. Second, the company has raised its dividend for 7 consecutive years, with a dividend growth of 14.29% over the last twelve months as of Q1 2024, which could be appealing to income-focused investors.
For those interested in a deeper dive into the company's financials and performance metrics, InvestingPro offers additional insights, including a total of 12 more InvestingPro Tips available at https://www.investing.com/pro/OLED. These can provide a more comprehensive analysis of Universal Display's market position and future prospects.
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