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Valens Research

OLED - Embedded Expectations Analysis - 2020 02 26

 Universal Display Corporation (OLED:USA) currently trades above recent averages relative to UAFRS-based (Uniform) Earnings, with a 31.6x Uniform P/E, implying bullish expectations for the firm. However, management may be concerned about quarterly performance, partnerships, and their development projects

 Specifically, may be concerned about the progress of Tianma's new Gen 6 flexible OLED fabrication plant plan and about declines in quarterly material sales and operating income. Moreover, they may be exaggerating the strength of their OLED material partnerships and the potential of their development work for their phosphorescent blue emissive system and organic vapor jet printing
Underlying
Universal Display Corporation

Universal Display is engaged in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials for use in displays and lighting applications. The company manufactures and sells its proprietary OLED materials to customers for evaluation and use in commercial OLED products. The company also enters into agreements with manufacturers of OLED display and lighting products under which the company grants them licenses to practice under the company's patents and to use the company's proprietary know-how. At the same time, the company works with these and other companies that are evaluating the company's OLED technologies and materials for possible use in commercial OLED display and lighting products.

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Valens Research
Valens Research

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