Lawrence Lacerte, a director at Universal Display Corp (NASDAQ:OLED), recently acquired shares in the company. According to a Form 4 filing with the Securities and Exchange Commission, Lacerte purchased 742 shares of common stock on November 4, 2024, at a price of $180.89 per share. This transaction amounted to a total value of approximately $134,220. Following this acquisition, Lacerte holds 122,372 shares of Universal Display.
In other recent news, Universal Display Corporation has seen revisions in its stock outlook by investment firms TD Cowen and Needham. TD Cowen lowered the price target to $225 from $250, while Needham revised its target to $215 from $242, both firms maintaining a Buy rating. These adjustments come as Universal Display announced a revised outlook for calendar year 2024, expecting a 10% year-over-year growth due to a decrease in demand for materials in the December quarter. Despite near-term challenges, both firms remain optimistic about Universal Display's long-term prospects, with the growth of information technology displays and the upcoming Blue product seen as continuous drivers.
In the recent financial disclosures, Universal Display reported Q3 revenues of $162 million and a net income of $67 million, equivalent to $1.40 per diluted share. However, due to reduced customer forecasts for Q4, the company adjusted its full-year revenue forecast to between $625 million and $645 million.
Innovation continues at Universal Display Corporation, with investments in new OLED production facilities and the development of a commercial phosphorescent blue emissive system. These recent developments reflect Universal Display Corporation's commitment to strategic investment and innovation in the OLED market.
InvestingPro Insights
Lawrence Lacerte's recent purchase of Universal Display Corp (NASDAQ:OLED) shares aligns with several positive indicators highlighted by InvestingPro. The company's strong financial position is evident from InvestingPro Tips, which note that OLED "holds more cash than debt on its balance sheet" and "liquid assets exceed short term obligations." This financial stability may have influenced Lacerte's decision to increase his stake in the company.
Despite recent market volatility, with InvestingPro Data showing a 1-week price total return of -11.01% and a 1-month return of -14.6%, Universal Display has demonstrated long-term resilience. An InvestingPro Tip points out that the company "has raised its dividend for 8 consecutive years," suggesting a commitment to shareholder value. This is further supported by the current dividend yield of 0.88% and a dividend growth of 14.29% over the last twelve months.
The company's financial performance remains solid, with revenue growth of 9.63% over the last twelve months and a robust gross profit margin of 75.4%. These figures, combined with the fact that Universal Display is "profitable over the last twelve months" according to InvestingPro Tips, may have contributed to Lacerte's confidence in the stock.
Investors considering OLED might be interested to know that InvestingPro offers 13 additional tips for this stock, providing a more comprehensive analysis for those looking to make informed investment decisions.
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