Analysts Set Universal Display Co. (NASDAQ:OLED) Price Target at $215.63

Shares of Universal Display Co. (NASDAQ:OLED) have been assigned an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $215.63.

A number of research analysts have commented on the stock. Oppenheimer dropped their price objective on shares of Universal Display from $240.00 to $220.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. TD Cowen lowered their price target on Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Roth Mkm upped their price objective on Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Susquehanna lifted their target price on Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, Needham & Company LLC dropped their target price on Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a report on Thursday, October 31st.

Universal Display Stock Down 4.5 %

Shares of NASDAQ OLED opened at $161.80 on Friday. The stock has a market cap of $7.68 billion, a PE ratio of 32.53, a price-to-earnings-growth ratio of 1.80 and a beta of 1.43. Universal Display has a 52-week low of $148.75 and a 52-week high of $237.00. The business has a 50-day moving average price of $194.63 and a 200 day moving average price of $195.75.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.21. The business had revenue of $161.63 million during the quarter, compared to the consensus estimate of $165.28 million. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. The company’s revenue was up 14.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.08 earnings per share. Sell-side analysts anticipate that Universal Display will post 4.8 earnings per share for the current year.

Universal Display Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.60 annualized dividend and a dividend yield of 0.99%. Universal Display’s dividend payout ratio is currently 32.13%.

Insider Buying and Selling

In other news, Director Lawrence Lacerte acquired 742 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average cost of $180.89 per share, with a total value of $134,220.38. Following the purchase, the director now directly owns 122,372 shares of the company’s stock, valued at approximately $22,135,871.08. This trade represents a 0.61 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Universal Display

Institutional investors have recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of Universal Display during the 2nd quarter worth $127,668,000. Citigroup Inc. increased its holdings in Universal Display by 1,387.6% during the 3rd quarter. Citigroup Inc. now owns 261,723 shares of the semiconductor company’s stock valued at $54,936,000 after acquiring an additional 244,129 shares in the last quarter. Raymond James & Associates raised its position in Universal Display by 629.9% during the third quarter. Raymond James & Associates now owns 269,414 shares of the semiconductor company’s stock worth $56,550,000 after acquiring an additional 232,503 shares during the last quarter. Barclays PLC raised its position in Universal Display by 753.8% during the third quarter. Barclays PLC now owns 212,518 shares of the semiconductor company’s stock worth $44,608,000 after acquiring an additional 187,627 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Universal Display by 66.6% in the first quarter. Janus Henderson Group PLC now owns 434,029 shares of the semiconductor company’s stock valued at $73,099,000 after purchasing an additional 173,496 shares in the last quarter. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

About Universal Display

Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.