Shares of Universal Display Co. (NASDAQ:OLED) have received an average rating of “Buy” from the thirteen analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $149.89.
A number of equities research analysts have issued reports on the company. Zacks Investment Research upgraded Universal Display from a “hold” rating to a “buy” rating and set a $174.00 target price on the stock in a research note on Tuesday, March 26th. ValuEngine cut Universal Display from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. Needham & Company LLC raised their target price on Universal Display from $105.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, February 22nd. Deutsche Bank raised their target price on Universal Display to $140.00 in a research note on Friday, February 22nd. Finally, BidaskClub upgraded Universal Display from a “hold” rating to a “buy” rating in a research note on Thursday, January 17th.
OLED stock traded down $1.26 during mid-day trading on Monday, reaching $168.98. The company had a trading volume of 510,845 shares, compared to its average volume of 790,381. The stock has a market capitalization of $7.96 billion, a price-to-earnings ratio of 136.27, a PEG ratio of 2.65 and a beta of 1.44. Universal Display has a one year low of $78.75 and a one year high of $174.87.
Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, February 21st. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. The company had revenue of $70.14 million for the quarter, compared to analysts’ expectations of $70.18 million. Universal Display had a return on equity of 8.85% and a net margin of 23.78%. The firm’s quarterly revenue was down 39.5% compared to the same quarter last year. During the same period last year, the business posted $0.93 earnings per share. Analysts predict that Universal Display will post 2.17 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.24%. This is a positive change from Universal Display’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Thursday, March 14th. Universal Display’s dividend payout ratio (DPR) is 32.26%.
In other news, insider Julia J. Brown sold 17,539 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $160.00, for a total transaction of $2,806,240.00. Following the transaction, the insider now directly owns 125,657 shares of the company’s stock, valued at $20,105,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lawrence Lacerte sold 6,250 shares of the firm’s stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $145.52, for a total value of $909,500.00. Following the transaction, the director now directly owns 325,000 shares in the company, valued at $47,294,000. The disclosure for this sale can be found here. Insiders have sold 25,039 shares of company stock worth $3,907,465 over the last three months. Corporate insiders own 4.00% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in Universal Display by 29.1% during the third quarter. JPMorgan Chase & Co. now owns 1,023,098 shares of the semiconductor company’s stock worth $120,623,000 after acquiring an additional 230,534 shares during the period. PNC Financial Services Group Inc. grew its holdings in Universal Display by 32.0% during the third quarter. PNC Financial Services Group Inc. now owns 5,849 shares of the semiconductor company’s stock worth $690,000 after acquiring an additional 1,417 shares during the period. BlackRock Inc. grew its holdings in Universal Display by 0.7% during the third quarter. BlackRock Inc. now owns 1,800,372 shares of the semiconductor company’s stock worth $212,264,000 after acquiring an additional 13,294 shares during the period. Allianz Asset Management GmbH acquired a new position in Universal Display during the third quarter worth about $4,176,000. Finally, Verition Fund Management LLC acquired a new position in Universal Display during the third quarter worth about $900,000. 85.45% of the stock is currently owned by 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 flat panel displays and solid-state lighting applications. As of February 21, 2019, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 5,000 issued and pending patents worldwide.
Read More: Why is total return important?
Receive News & Ratings for Universal Display Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Display and related companies with MarketBeat.com's FREE daily email newsletter.