Universal Display Shares Jumped: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Universal Display (NAS: PANL) rose more than 11% on above-average volume after the company reported strong third-quarter results last night. Management also said its patents are holding up both here and in Europe.
So what: Revenue tripled to $21.8 million, helping turn last year's $0.19 per share loss into a $0.12 per share gain. Analysts were expecting a $0.01 per share loss on $12.4 million in revenue, according to data compiled by Yahoo! Finance.
Now what: The report comes a day after analysts dismissed earlier speculation of a sourcing deal with Apple (NAS: AAPL) that would bring OLED screens to the iPhone. Apparently, Universal Display doesn't need the (ahem) iAssist. Do you agree? Or would you buy shares at current prices? Please weigh in using the comments box below.
Interested in more information about Universal Display? Add it to your watchlist byclicking here.
At the time this article was published Fool contributor Tim Beyers is a member of theMotley Fool Rule Breakersstock-picking team. He owned shares of Apple at the time of publication. Check out Tim's portfolio holdings and Foolish writings, or connect with him on Google+ or Twitter, where he goes by @milehighfool. You can also get his insights delivered directly to your RSS reader.The Motley Fool owns shares of Apple. Motley Fool newsletter services have recommended buying shares of Universal Display and Apple. Motley Fool newsletter services have recommended creating a bull call spread position in Apple. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.