Corporate Webpages Universal Display Corporation
Universal Display Corporation (OLED) derives its ticker symbol
from its main area of focus and niche in specialized
electronics, namely "organic light emitting diode" technology.
This is such a hot area that in the section of this report,
average to current p/e ratios, this company has one of the
highest scores due to a blowout upcoming earnings year 2018,
when earings are anticipated to to $14. The share price hasn't
caught up with that yet.
The company's OLED displays are "flexible", meaning they can
adapt to curved screen displays which several manufacturers of
TV's and smart phones are developing. Smart phones can even
have a folding screen.
History for this relatively-recently founded company (1994)
includes shareholder concern since its NASDAQ listing in 1996.
It pays a dividend of 0.2%. Recently the stock gained 11% in
one day on another blowout quarterly earnings report.
The company forms partnerships with major manufacturers of
electronic devices requiring displays. With many patents it
also has a corner on LED light source application support. News
on this company consists either of these continually expanding
partnerships, particularly in Asia, and favorable earnimgs reports.
Yes, the Trump trade war is hurting, but the technology is so
prevalently needed as to overcome a lot of what would otherwise
be resistance.
Latest technological development focuses on PHOLED's,
"Phosphorescent organic light emitting diodes" which are up to
four times as efficient as already efficient fluorescent OLED's.
Universal Display is the acknowledged world leader in the
production of these.
Some of the things that surprised us include reticence upon the
part of several major reviewers like Standard & Poor's along
with some outright "sell" recommendations from one or two
analysts and researchers which generally comes when a stock
share price has been run up to the extent of OLED's.
Institutions are net sellers. After all, if you owned a share
at $13 in 2009 and held onto it, it would now be worth 15 times what
you paid for it today.
11-02-2019: Universal Display Corporation (OLED): Oganic LED's are Hot Except in Temperature
(WAIT FOR PAGE TO LOAD COMPLETELY BEFORE LINKS WORK.)
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Zenith Index |
Under current market conditions, a Zenith Index Score of 1.20 or above is required for a positive rating on this factor. 1.21 -1.30 is considered acceptable, 1.30-1.40 is considered strong and
> 1.40 is considered exceptionally strong. Accounting statements in this section often contain mistakes, especially in earlier years' totals, but data is deemed sufficient for us to give a rating. More accurate financial statements follow in the next section.
OLED Universal Display Corporation
Exchange: NASDAQ Group: Sector Industry: Industry
Rank of Industry: 15 Rank within Industry: 217
Shares Out: 47.11 (mil.) Market Capitalization:$ 9,429.78 (mil.)
Sales (12 mo.): $ 247.00 (mil.) Sales Growth: 25.74%
Avg Broker Recommend (1=Strong Buy): 2.78 Consensus Target: 204.50
Dividend:$ 0.00 Yield: 0.20% Payout Ratio: 0.16 Payout Chg: 0.00%
Ewing, NJ-based Universal Display Corporation is a leading developer of
technology and intellectual property (IP) for the Organic Light Emitting
OLEDs are thin, lightweight and power-efficient solid-state devices that
OLEDs can be manufactured on both flexible and rigid substrates, making
them highly suitable for use in full-color displays and also as lighting
Unlike LEDs, OLEDs can be viewed directly and doesn_ÇÖt need diffusers. It
is also expected to be cost-effective when manufactured in high volumes,
which makes it suitable for commercial application in the solid-state
OLED is suitable for commercial usage in a number of industries,
including smartphones, television, virtual reality devices and automotive markets.
Recent Price: 200.18 52-Week High: 230.32 52-Week Low: 78.78
20-Day Avg. Daily Volume = 567,160 Beta: 1.52
Earnings per Share (EPS) Estimates:
This Next This Next
Quarter Quarter Year Year
12/2019 03/2020 12/2019 12/2020
Average Estimate 0.49 0.00 3.80 0.00
Number of Estimates 3 2 4 4
Low Estimate 0.49 0.68 2.60 3.74
High Estimate 0.80 0.82 2.80 4.20
Year Ago EPS 0.40 0.66 1.24 2.68
EPS Growth 57.50% 13.64% 116.13% 45.80%
P/E Ratio Related Data: EPS Sales
Current FY Estimate: 72.53 Growth Growth
Trailing 12 Months: 74.62 vs. Previous Quarter: -15.22% -17.48%
P/E Growth Ratio: 2.49 vs. Previous Year: 62.50% 25.74%
Price/Sales Ratio: 25.24 Price/Book Ratio: 11.99 Price/Cash Flow: %655.77
Other Fundamental Data:
09/30/19 06/30/19 03/31/19
Return on Investment 0.00 16.52 12.35
Return on Assets 13.51 12.32 9.32
Current Ratio 0.00 4.93 4.96
Quick Ratio 4.50 4.50 4.44
Operating Margin 35.10 33.08 28.93
Net Margin 35.10 33.08 28.93
Pre-Tax Margin 0.00 0.00 0.00
Book Value 14.66 14.02 11.27
Inventory Turnover 0.00 1.11 0.94
Debt-to-Equity Ratio 0.00 0.00 0.00
Debt-to-Capital Ratio 0.00 0.00 0.00
Reported and Estimated Quarterly Earnings:
Reported 09/2019 06/2019 03/2019 12/2018
0.78 0.92 0.66 0.40
Estimated 12/2019 03/2020 12/2019 12/2020
Consensus 7 Days Ago 0.59 0.67 2.68 3.89
Upward Revisions 1 2 0 1
Downward Revisions 0 0 0 0
Consensus 30 Days Ago 0.59 0.67 2.68 3.89
Upward Revisions 1 2 0 1
Downward Revisions 0 0 0 0
Annual Income Statements ($mil except EPS data):
12/31/18 12/31/17 12/31/16 12/31/15 12/31/14
Sales 247.00 336.00 199.00 191.00 191.00
Cost of Goods 54.00 55.00 26.00 63.00 41.00
Gross Profit 194.00 281.00 173.00 128.00 150.00
Selling, Deprec, Amort Expense 137.00 135.00 104.00 96.00 91.00
Income After Deprec + Amortization 57.00 146.00 68.00 32.00 59.00
Non-Operating Income 8.00 3.00 0.00 1.00 1.00
Interest Expense 0.00 0.00 0.00 0.00 0.00
Pretax Income 64.00 150.00 69.00 33.00 59.00
Income Taxes 5.00 46.00 21.00 18.00 17.00
Minority Interest 0.00 0.00 0.00 0.00 0.00
Investment Gains/Losses 0.00 0.00 0.00 0.00 0.00
Other Income/Charges 0.00 0.00 0.00 0.00 0.00
Income from Continuing Operations 59.00 104.00 48.00 15.00 42.00
Extras + Discontined Operations 0.00 0.00 0.00 0.00 0.00
Net Income 0.00 104.00 48.00 15.00 42.00
Income before Depr. + Amortization 12.00 159.00 80.00 37.00 67.00
Depreciation + Amort. (Cash Flow) 0.00 0.00 0.00 0.00 0.00
Average Shares 46.90 46.81 46.54 47.49 46.69
Diluted EPS bf Non-Recurring Items 1.24 2.43 1.02 0.94 0.90
Diluted Net EPS 1.24 2.18 1.02 0.31 0.90
Balance Sheets ($mil. except per share data):
12/31/18 12/31/17 12/31/16 12/31/15 12/31/14
Assets:
Cash + Equivalents 0.00 515.00 420.00 328.00 395.00
Receivables 43.00 52.00 25.00 25.00 22.00
Notes Receivable 0.00 0.00 0.00 0.00 0.00
Inventories 70.00 36.00 17.00 13.00 37.00
Other Current Assets 6.00 10.00 15.00 15.00 23.00
Total Current Assets 635.00 519.00 385.00 448.00 371.00
Property, Plant & Equipment 70.00 56.00 27.00 22.00 20.00
Investments + Advances 0.00 15.00 15.00 2.00 3.00
Other Non-Current Assets 0.00 0.00 0.00 0.00 0.00
Deferred Charges 24.00 27.00 16.00 15.00 13.00
Intangibles 140.00 162.00 184.00 72.00 83.00
Deposits + Other Assets 65.00 1.00 0.00 0.00 0.00
Total Assets 0.00 933.00 780.00 628.00 559.00
12/31/18 12/31/17 12/31/16 12/31/15 12/31/14
Liabilities:
Notes Payable 0.00 0.00 0.00 0.00 0.00
Accounts Payable 11.00 14.00 8.00 7.00 9.00
Current Portion Long-Term Debt 0.00 0.00 0.00 0.00 0.00
Current Portion Capital Leases 0.00 0.00 0.00 0.00 0.00
Accrued Expenses 36.00 35.00 20.00 17.00 15.00
Income Taxes Payable 0.00 0.00 0.00 0.00 0.00
Other Current Liabilities 87.00 15.00 12.00 10.00 3.00
Total Current Liabilities 133.00 64.00 40.00 35.00 27.00
Mortgages 0.00 0.00 0.00 0.00 0.00
Deferred Income Taxes 42.00 24.00 31.00 36.00 3.00
Convertible Debt 0.00 0.00 0.00 0.00 0.00
Long-Term Debt 0.00 0.00 0.00 0.00 0.00
Non-Current Capital Leases 0.00 0.00 0.00 0.00 0.00
Other Non-Current Liabilities 68.00 33.00 28.00 23.00 11.00
Minority Interest 0.00 0.00 0.00 0.00 0.00
Total Liabilities 0.00 243.00 121.00 99.00 93.00
12/31/18 12/31/17 12/31/16 12/31/15 12/31/14
Shareholder Equity:
Preferred Stock 0.00 0.00 0.00 0.00 0.00
Common Sock 0.00 0.00 0.00 0.00 0.00
Capital Surplus 617.00 611.00 604.00 590.00 581.00
Retained Earnings 130.00 99.00 -26.00 -74.00 -88.00
Other Equity -16.00 -11.00 -11.00 -10.00 -4.00
Treasury Stock 41.00 40.00 40.00 40.00 40.00
Total Shareholder Equity 691.00 659.00 528.00 467.00 449.00
Total Liabilities+ Owners' Equity 933.00 780.00 628.00 559.00 490.00
Total Common Equity 0.00 0.00 0.00 0.00 0.00
Shares Outstanding 47.10 47.00 46.90 46.70 45.60
Book Value per Share 14.66 14.02 11.27 10.00 9.84
Cash Flow Statement:
Operations, Investments, & Financial Activities
12/31/18 12/31/17 12/31/16 12/31/15 12/31/14
Net Income 0.00 58.84 103.89 48.07 14.68
Depreciation/Amortization + Deplet -44.46 12.91 11.53 4.39 8.27
Net Change in Assets/Liab. 79.12 -23.24 8.79 43.94 -20.23
Net Cash f Discontinued Operations 0.00 0.00 0.00 0.00 0.00
Other Operating Activities 28.29 39.81 11.95 50.60 17.38
Net Cash f Operating Activities 0.00 121.80 133.37 80.34 113.61
Property + Equipment -25.39 -29.80 -7.30 -5.10 -6.15
Acquisition/Disp. of Subsidiaries 0.00 0.00 -33.38 0.00 0.00
Investments 4.39 -95.78 98.20 -53.46 -36.16
Other Investing Activity 0.00 0.00 -95.99 0.00 0.00
Net Cash from Investing -21.00 -125.58 -38.47 -58.57 -42.31
Use of Funds
12/31/18 12/31/17 12/31/16 12/31/15 12/31/14
Issue (Repurchase) Capital Stock 0.32 0.77 0.62 2.39 -27.29
Issuance (Repayment) of Debt 0.00 0.00 0.00 0.00 0.00
Increase/Decrease Short-Term Debt 0.00 0.00 0.00 0.00 0.00
Dividends + Distributions 0.00 0.00 0.00 0.00 0.00
Other Financing Acitivies -11.62 -9.43 -0.64 -5.34 -2.84
Net Cash from Financing -22.61 -14.31 -0.01 -2.95 -30.13
Effect of Exchange Rate Changes 0.00 0.00 0.00 0.00 0.00
Net Change in Cash + Equivalents 78.18 -6.53 41.85 52.10 -25.17
Net Change in Cash & Equivalents
12/31/18 12/31/17 12/31/16 12/31/15 12/31/14
Cash at Beginning of Per. 132.84 139.37 97.51 45.42 70.59
Cash at End of Period 211.02 132.84 139.37 97.51 45.42
Net Change in Cash + Equivalents 78.18 -6.53 41.85 52.10 -25.17
Zenith Indices: [Indices near +3.0, or near zero,
or < zero bear special attention.]
P/E Ratio Tests:
Current P/E Ratio < 28? 0.3752 P/E Ratio > 5? 1.0000
P/E Ratio Vs Growth Rate: 1.5563 Forward P/E Ratio < 28? 0.3860
Sales Tests:
Sales < $500 mil.? 1.4881 Sales incr. 25% Yearly? 1.0296
Sales > $340 million? 0.9882 Inventory/Sales < 5%? 0.4667
Balance Sheet Tests:
Debt/Equity Ratio < 0.40? 3.0000 LTD/Net Assets: 3.0000
Debt Reduction: 3.0000 Intangibles/Assets < 10%? 0.5759
Current Ratio > 2? 3.0000 Return on Equity > 9.8%? 1.6857
Earnings Tests:
EPS 5-Yr. Growth > 18%? 3.0000 Operating Margin > 5%? 0.1511
EPS Annual Growth > 0%? -1.5220 Dividend Rate cp 2.7%: 0.0741
Earnings Consistent? 1.6667 Payout Ratio Decreasing? 0.0160
Net Income Increasing 25%? 1.7333 Price<15% below 52-wk Hi? 0.9995
Positive Cash Flow? 0.9531 Price/Book X PE < 22? 0.0246
Profit Margin > 7.5%? 3.0000 Price/Book < 1.6? 0.1334
Profit Margin Increasing? 1.1434 Stock Compared to S+P 500:-3.0000
Price & Float Tests:
Return on Investment>12%? 0.9718 Shares Out > 50 mil.? 0.9422
Return on Assets > 10%? 0.7767 Beta > 1.25?: 1.5200
Price/Sales Ratio < 2.3? 1.2350 Liquidity > 2%? 3.0000
Ownership Tests:
Analyst Following > 2.0? 1.0791 Market Capital'n > 300M? 3.0000
Owner's Equity Increasing? 1.4677 Shares Out Decreasing? 0.9702
OLED Overall Zenith Index: 1.3298
Financial Statements
UNIVERSAL DISPLAY CORP (OLED) INCOME STATEMENT
Fiscal year ends in December. 2014-12 2015-12 2016-12 2017-12 2018-12 TTM
Revenue 191,031,008 191,046,000 198,886,000 335,628,992 247,414,000 373,591,008
Cost of revenue 41,315,000 62,997,000 26,288,000 54,698,000 53,541,000 75,497,000
Gross profit 149,716,000 128,049,000 172,598,000 280,931,008 193,872,992 298,094,016
Operating expenses
Research and development 41,154,000 44,641,000 42,744,000 49,144,000 53,717,000 66,244,000
Sales, General and administrative 28,135,000 29,046,000 32,876,000 46,808,000 46,999,000 53,057,000
Other operating expenses 21,807,000 22,086,000 28,565,000 38,732,000 36,422,000 39,666,000
Total operating expenses 91,096,000 95,773,000 104,185,000 134,684,000 137,138,000 158,967,008
Operating income 58,620,000 32,276,000 68,413,000 146,247,008 56,735,000 139,127,008
Interest Expense 70,000 54,000 0 0 0 0
Other income (expense) 777,000 837,000 185,000 3,290,000 7,576,000 11,563,000
Income before taxes 59,327,000 33,059,000 68,598,000 149,536,992 64,311,000 150,690,000
Provision for income taxes 17,473,000 18,381,000 20,528,000 45,652,000 5,471,000 19,565,000
Net income from continuing operations 41,854,000 14,678,000 48,070,000 103,885,000 58,840,000 131,125,000
Net income 41,854,000 14,678,000 48,070,000 103,885,000 58,840,000 131,125,000
Preferred dividend 0 0 0 1,638,000 690,000 1,131,000
Net income available to common shareholders 41,854,000 14,678,000 48,070,000 102,247,000 58,150,000 129,994,000
Earnings per share
Basic 0.90 0.31 1.02 2.19 1.24 2.77
Diluted 0.90 0.31 1.02 2.18 1.24 2.77
Weighted average shares outstanding
Basic 46,252,960 46,816,392 46,408,460 46,725,288 46,849,588 46,929,144
Diluted 46,685,144 47,494,188 46,535,980 46,805,192 46,896,768 46,964,368
____________________________________________________________________________________________________________________________________________
UNIVERSAL DISPLAY CORP (OLED) BALANCE SHEET
Fiscal year ends in December. 2014-12 2015-12 2016-12 2017-12 2018-12
Assets
Current assets
Cash
Short-term investments 243,088,000 297,980,992 188,644,000 287,446,016 304,323,008
Total cash 288,505,984 395,494,016 328,008,992 420,286,016 515,344,992
Receivables 22,075,000 24,729,000 24,994,000 52,355,000 43,129,000
Inventories 37,109,000 12,748,000 17,314,000 36,265,000 70,000,000
Deferred income taxes 18,459,000 12,326,000 8,661,000 0 0
Other current assets 4,356,000 2,387,000 6,392,000 10,276,000 6,366,000
Total current assets 370,504,992 447,684,000 385,369,984 519,182,016 634,840,000
Non-current assets
Property, plant and equipment
Gross property, plant and equipment 44,735,000 50,304,000 59,370,000 92,818,000 114,682,000
Accumulated Depreciation -24,813,000 -27,897,000 -32,167,000 -36,368,000 -44,943,000
Net property, plant and equipment 19,922,000 22,407,000 27,203,000 56,450,000 69,739,000
Equity and other investments 3,047,000 2,187,000 14,960,000 14,794,000 0
Goodwill 0 0 15,535,000 15,535,000 15,535,000
Intangible assets 83,014,000 72,015,000 168,352,000 146,368,992 124,407,000
Deferred income taxes 12,934,000 14,945,000 15,832,000 27,022,000 24,377,000
Other long-term assets 425,000 174,000 307,000 604,000 64,526,000
Total non-current assets 119,342,000 111,728,000 242,188,992 260,774,000 298,584,000
Total assets 489,847,008 559,411,968 627,558,976 779,955,968 933,424,000
Liabilities and stockholders' equity
Liabilities
Current liabilities
Accounts payable 9,260,000 6,849,000 8,112,000 13,774,000 10,532,000
Accrued liabilities 6,248,000 7,502,000 9,012,000 14,022,000 22,254,000
Deferred revenues 2,466,000 10,107,000 10,282,000 14,981,000 80,782,000
Other current liabilities 8,849,000 10,052,000 12,800,000 21,047,000 19,614,000
Total current liabilities 26,823,000 34,510,000 40,206,000 63,824,000 133,182,000
Non-current liabilities
Deferred revenues 3,366,000 35,543,000 31,322,000 23,902,000 41,785,000
Pensions and other benefits 10,916,000 22,594,000 27,563,000 33,176,000 44,055,000
Other long-term liabilities 0 0 0 0 23,896,000
Total non-current liabilities 14,282,000 58,137,000 58,885,000 57,078,000 109,736,000
Total liabilities 41,105,000 92,647,000 99,091,000 120,902,000 242,918,000
Stockholders' equity
Preferred stock 2,000 2,000 2,000 2,000 2,000
Common stock 471,000 482,000 483,000 485,000 487,000
Additional paid-in capital 581,113,984 589,884,992 604,364,032 611,062,976 617,334,016
Retained earnings -88,305,000 -73,627,000 -25,557,000 99,126,000 129,552,000
Treasury stock -40,158,000 -40,158,000 -40,158,000 -40,158,000 -40,635,000
Accumulated other comprehensive income -4,382,000 -9,819,000 -10,666,000 -11,464,000 -16,234,000
Total stockholders' equity 448,742,016 466,764,992 528,468,000 659,054,016 690,505,984
Total liabilities and stockholders' equity 489,847,008 559,411,968 627,558,976 779,955,968 933,424,000
____________________________________________________________________________________________________________________________________________
UNIVERSAL DISPLAY CORP (OLED) Statement of CASH FLOW
Fiscal year ends in December. USD. 2014-12 2015-12 2016-12 2017-12 2018-12 TTM
Cash Flows From Operating Activities
Net income 41,854,000 14,678,000 48,070,000 103,885,000 58,840,000 131,125,000
Depreciation & amortization 13,074,000 14,085,000 20,762,000 26,902,000 30,574,000 33,428,000
Amortization of debt discount/premium and is -531,000 -697,000 -1,830,000 -2,871,000 -6,131,000 -6,468,000
Investment/asset impairment charges 0 33,000,000 0 0 3,630,000 0
Deferred income taxes 9,108,000 7,137,000 3,094,000 24,396,000 -12,814,000 -31,267,000
Stock based compensation 8,273,000 10,464,000 13,089,000 14,893,000 16,796,000 15,688,000
Change in working capital -21,913,000 40,585,000 4,826,000 -27,588,000 95,340,000 127,532,000
Accounts receivable -6,418,000 -2,654,000 1,205,000 -27,361,000 9,226,000 -22,567,000
Inventory -26,514,000 -8,639,000 -4,460,000 -18,951,000 -37,365,000 4,520,000
Other working capital 11,019,000 51,878,000 8,081,000 18,724,000 123,479,000 145,579,008
Other non-cash items -2,595,000 -5,640,000 -7,673,000 -6,252,000 -64,439,000 -105,452,000
Net cash provided by operating activities 47,270,000 113,612,000 80,338,000 133,365,000 121,796,000 164,586,000
Cash Flows From Investing Activities
Investments in property, plant, and equipmen -6,153,000 -5,103,000 -7,300,000 -29,803,000 -25,391,000 -29,783,000
Acquisitions, net 0 0 -33,380,000 0 0 0
Purchases of investments -408,974,016 -691,875,968 -450,276,992 -594,283,008 -628,788,992 -775,809,984
Sales/Maturities of investments 372,817,984 638,411,008 548,473,984 498,508,000 633,179,008 808,032,000
Purchases of intangibles 0 0 -95,989,000 0 0 -401,000
Net cash used for investing activities -42,309,000 -58,568,000 -38,472,000 -125,578,000 -21,001,000 2,038,000
Cash Flows From Financing Activities
Common stock issued 328,000 354,000 439,000 734,000 798,000 840,000
Common stock repurchased -29,500,000 0 0 0 -477,000 -649,000
Excess tax benefit from stock based compe 0 0 4,232,000 0 0 0
Dividend paid 0 0 0 -5,652,000 -11,314,000 -16,970,000
Other financing activities -957,000 -3,303,000 -4,685,000 -9,394,000 -11,620,000 -15,942,000
Net cash provided by (used for) financing -30,129,000 -2,949,000 -14,000 -14,312,000 -22,613,000 -32,721,000
Net change in cash -25,168,000 52,095,000 41,852,000 -6,525,000 78,182,000 133,903,000
Cash at beginning of period 70,586,000 45,418,000 97,513,000 139,364,992 132,840,000 101,638,000
Cash at end of period 45,418,000 97,513,000 139,364,992 132,840,000 211,022,000 235,540,992
Free Cash Flow
Operating cash flow 47,270,000 113,612,000 80,338,000 133,365,000 121,796,000 164,586,000
Capital expenditure -6,153,000 -5,103,000 -103,289,000 -29,803,000 -25,391,000 -30,184,000
Free cash flow 41,117,000 108,509,000 -22,951,000 103,562,000 96,405,000 134,402,000
____________________________________________________________________________________________________________________________________________
Average to Current P/E Ratios
(OLED) Universal Display Corp.
2014 2015 2016 2017 2018
Annual Earnings: 0.90 0.31 1.02 2.18 1.24
Average Price During Year: 30.90 41.10 58.55 109.08 115.36
P/E Ratio: 34.33 132.57 57.41 50.04 93.03
Average 5-Year P/E Ratio = 73.47
Current Price = 194.96
Previous 5 Quarter Earnings: 1.56 0.81 1.21 1.21 11.83
Current Annualized (Last Four Quarters) Earnings = 14.25
________
Average PE / Current PE = 5.37
--------
...a number above 1.00 is good
1.00 or below is bad
Financial Ratios |
. . . . . . . . . . . . Lowest to Highest, Compared to Industry
Intrinsic Value (DCF) |
Intrinsic Value by Discounted Cash Flow Method:
Fair Value Estimator |
Fair Value Estimate:
Projected Earnings |
Research Reports |
Analysts' Opinions |
Insider Activity |
Institutional Activity |
Institutional Ownership:
Sentiment |
Zenith uses the "sentiment" score above or below 50 to award a positive or negative point in the Decision Matrix.
Short Interest Ratio |
As the short interest rises as a percentage of average daily share volume (Days to Cover), this is considered a measure of negative sentiment. Similarly, a decrease in that percentage is considered positive sentiment.
Standard & Poor's |
Management's Discussion of Results of Operations Excerpts |
Channeling Potential |
The summary below includes a value for `Degree,' which refers on a
scale of 1 to 10 the range of a channel in the period under consi-
deration compared to the total range of price movement. It also looks
for the last closing price to be within the channel, otherwise zeroed.
The `Index' is the `Degree' weighted for volatility. Generally, the
the higher the index, the more suitable is the stock for trading as
a `rolling stock' between channel high and low points.
Results for UNIVERSAL DISPLAY CORP.:
Symbol? OLED
Total Months Available: 25
Months in Cycle? 4
Months Covered by Periods: 12
Period 1 Period 2 Period 3
H1 L1 H2 L2 H3 L3
152.97 78.78 198.86 143.55 230.32 158.00
RANGE = 230.32 TO 78.78 Close = 173.65
CHANNEL = 158.00 TO 152.97 Degree = 0
Volatility = 2.90% Index = 0
MACD Histogram Divergence |
The theory is that connecting the two most recent peaks or valleys of the MACD histogram will signal the direction of the next major move.
Intraday Chart |
2 Days:
Val Idea |
3 out of 12 favorable, (negative opinion.)
Stock Consultant |
Point & Figure Chart |
Wall Street Analyzer |
Marketspace Chart |
Time Series Forecast |
Neural Network Prediction |
"Neurostock" can only track long trades. Therefore its performance, as tracked by itself on stocks which are consistently falling, may not appear as good as it could if each "sell" signal were a "short sale."
Ultimate Trading Systems |
2 out of 3 of the ultimate systems favor an upmove.
System Below:
Short term outlook: Positive: Bright Green, Negative: Bright Red
Long term outlook: Postive: Dark Green, Negative: Dark Red.
Recommendation |
| Factors | Weighted Points |
|---|---|
| News | + 1 |
| Comparison | + 1 |
| Industry | + 1 |
| Bond Issue | 0 |
| Zenith Index | + 1 |
| Non-GAAP vs. GAAP Earnings | + 1 |
| Cash Flow | + 1 |
| Average to Current P/E | + 1 |
| Ratios | + 1 |
| Intrinsic Value DCF | - 1 |
| Fair Value Estimator | - 1 |
| Projected Earnings | + 1 |
| Research Reports | + 1 |
| Analysts | - 1 |
| Executive Perquisites | - 1 |
| Insider Activity | - 1 |
| Institutional Activity | - 1 |
| Management Reporting | + 1 |
| Short Interest | + 1 |
| Sentiment | - 1 |
| Standard & Poor's | - 1 |
| MACD Histogram Divergence | + 1 |
| Val Idea | - 1 |
| Stock Consultant | - 1 |
| Point & Figure | + 1 |
| Wall Street Analyzer | - 1 |
| Marketspace Chart | + 1 |
| Time Series Chart | + 1 |
| Neural Network | + 1 |
| Stock Options | + 1 |
| Ultimate Trading Systems | + 1 |
| Total | + 8 |
Place 150 shares of Universal Display Corporation (OLED) on the Active List.
