Analysts Set Universal Display Corporation (NASDAQ:OLED) Price Target at $116.33

Shares of Universal Display Corporation (NASDAQ:OLED) have been assigned a consensus recommendation of “Hold” from the eight research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $116.3333.

Several research analysts have commented on OLED shares. Roth Capital set a $168.00 price objective on shares of Universal Display in a report on Friday, May 1st. The Goldman Sachs Group set a $135.00 target price on Universal Display in a report on Tuesday, April 21st. Weiss Ratings downgraded Universal Display from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Needham & Company LLC dropped their price target on Universal Display from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Finally, BTIG Research cut Universal Display to a “neutral” rating in a report on Friday, July 31st.

Universal Display Stock Performance

OLED stock opened at $86.64 on Tuesday. Universal Display has a one year low of $76.42 and a one year high of $153.38. The company’s fifty day moving average price is $84.70 and its 200-day moving average price is $94.61. The company has a market capitalization of $3.98 billion, a PE ratio of 20.98 and a beta of 1.54.

Universal Display (NASDAQ:OLED) last issued its earnings results on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.03. The firm had revenue of $152.16 million during the quarter, compared to analyst estimates of $157.54 million. Universal Display had a net margin of 32.24% and a return on equity of 11.35%. Universal Display’s revenue for the quarter was down 11.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.41 earnings per share. On average, research analysts predict that Universal Display will post 4.18 EPS for the current fiscal year.

Universal Display Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Wednesday, September 16th. Universal Display’s dividend payout ratio is currently 48.43%.

Institutional Investors Weigh In On Universal Display

Large investors have recently bought and sold shares of the business. XXEC Inc. purchased a new stake in Universal Display during the second quarter valued at $2,508,286,000. BlackRock Inc. purchased a new position in shares of Universal Display in the 2nd quarter worth $373,931,000. Primecap Management Co. CA bought a new stake in shares of Universal Display in the 2nd quarter worth about $190,136,000. Norges Bank bought a new stake in shares of Universal Display in the 4th quarter worth about $92,756,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Universal Display by 86.4% in the 4th quarter. JPMorgan Chase & Co. now owns 880,678 shares of the semiconductor company’s stock worth $102,846,000 after buying an additional 408,315 shares during the last quarter. Institutional investors own 78.19% of the company’s stock.

About Universal Display

Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.