Universal Display (NASDAQ:OLED) Shares Gap Up to $171.63

Universal Display Co. (NASDAQ:OLED)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $171.63, but opened at $176.71. Universal Display shares last traded at $178.86, with a volume of 18,550 shares trading hands.

Analysts Set New Price Targets

OLED has been the topic of a number of recent analyst reports. TD Cowen increased their price target on Universal Display from $210.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. The Goldman Sachs Group lifted their price target on shares of Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Oppenheimer upped their price objective on shares of Universal Display from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 3rd. Susquehanna lifted their target price on shares of Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Finally, Roth Mkm boosted their target price on shares of Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $225.88.

Universal Display Trading Up 4.2 %

The company has a market capitalization of $8.49 billion, a PE ratio of 38.38, a PEG ratio of 1.81 and a beta of 1.42. The company has a fifty day simple moving average of $206.02 and a 200-day simple moving average of $182.35.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.04). Universal Display had a net margin of 35.74% and a return on equity of 15.25%. The firm had revenue of $158.50 million during the quarter, compared to analysts’ expectations of $159.46 million. During the same period in the prior year, the company posted $1.04 EPS. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, equities analysts predict that Universal Display Co. will post 4.79 EPS for the current fiscal year.

Universal Display Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Monday, September 16th. Universal Display’s payout ratio is presently 34.78%.

Hedge Funds Weigh In On Universal Display

Large investors have recently modified their holdings of the business. Benjamin F. Edwards & Company Inc. acquired a new position in Universal Display in the fourth quarter valued at about $25,000. ORG Partners LLC acquired a new position in shares of Universal Display in the 1st quarter worth approximately $27,000. Principal Securities Inc. acquired a new position in shares of Universal Display in the 4th quarter worth approximately $34,000. University of Texas Texas AM Investment Managment Co. purchased a new position in shares of Universal Display during the 4th quarter worth approximately $35,000. Finally, Cape Investment Advisory Inc. increased its holdings in Universal Display by 1,977.8% in the 4th quarter. Cape Investment Advisory Inc. now owns 187 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 178 shares during the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

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.