Oppenheimer Comments On Universal Display's (PANL) 10-Q
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Rating Summary:
3 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Oppenheimer commented on Perform-rated Universal Display (NASDAQ: PANL) after the company's Q3 10-Q. The was no change to their estimates or rating.
The firm noted the next important dates are November 22, and February 1, regarding invalidation of claims in Japanese patents 3992929, 4357781 and 4335168 in response to opposition from Semiconductor Energy Laboratory.
The iridium-related claims likely seem broad, the firm notes. They said a invalidation may likely happen to only parts of these claims. However, they believe it's likely the Osmium and Platinum claims may be vulnerable.
On Samsung, the firm said its decision to sign on means that at present it was easier to use PANL's materials rather than litigate by itself or by proxy.
The details of patent litigation suggests Customer C is "Sony," with Customer B being LG. The firm is "guesstimating" 20 million OLED screens from Samsung, and using $3.5M in commercial revenues from chemicals suggesting $0.175 per screen.
The Pioneer and Panasonic Idemitsu deals seem to be based on percent of sales revenue while the variable component of the Samsung deal is in the chemicals revenue. They said it would seem the $3.2 million license fee from Samsung was for 12 weeks though five weeks have passed since signing.
For an analyst ratings summary and ratings history on Universal Display click here. For more ratings news on Universal Display click here.
Shares of Universal Display closed at $52.59 yesterday.
The firm noted the next important dates are November 22, and February 1, regarding invalidation of claims in Japanese patents 3992929, 4357781 and 4335168 in response to opposition from Semiconductor Energy Laboratory.
The iridium-related claims likely seem broad, the firm notes. They said a invalidation may likely happen to only parts of these claims. However, they believe it's likely the Osmium and Platinum claims may be vulnerable.
On Samsung, the firm said its decision to sign on means that at present it was easier to use PANL's materials rather than litigate by itself or by proxy.
The details of patent litigation suggests Customer C is "Sony," with Customer B being LG. The firm is "guesstimating" 20 million OLED screens from Samsung, and using $3.5M in commercial revenues from chemicals suggesting $0.175 per screen.
The Pioneer and Panasonic Idemitsu deals seem to be based on percent of sales revenue while the variable component of the Samsung deal is in the chemicals revenue. They said it would seem the $3.2 million license fee from Samsung was for 12 weeks though five weeks have passed since signing.
For an analyst ratings summary and ratings history on Universal Display click here. For more ratings news on Universal Display click here.
Shares of Universal Display closed at $52.59 yesterday.
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