Universal Display (NASDAQ:OLED) Price Target Raised to $175.00

Universal Display (NASDAQ:OLED) had its price objective upped by Susquehanna from $170.00 to $175.00 in a report issued on Friday morning, Benzinga reports. They currently have a neutral rating on the semiconductor company’s stock.

A number of other equities analysts have also recently weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of Universal Display from $208.00 to $243.00 and gave the company a buy rating in a research report on Thursday, July 18th. Needham & Company LLC upped their target price on Universal Display from $198.00 to $242.00 and gave the company a buy rating in a report on Tuesday, July 2nd. Oppenheimer upped their price target 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. Finally, TD Cowen lifted their target price on Universal Display from $210.00 to $250.00 and gave the company a buy rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $225.88.

Universal Display Trading Down 3.2 %

NASDAQ:OLED opened at $166.82 on Friday. The firm has a market cap of $7.91 billion, a price-to-earnings ratio of 36.27, a price-to-earnings-growth ratio of 1.86 and a beta of 1.42. Universal Display has a 12-month low of $133.67 and a 12-month high of $237.00. The company’s 50-day moving average is $207.05 and its two-hundred day moving average is $182.81.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results 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 15.48%. The firm had revenue of $158.50 million for the quarter, compared to analysts’ expectations of $159.46 million. During the same period last year, the firm posted $1.04 EPS. Universal Display’s revenue was up 8.1% on a year-over-year basis. On average, equities research analysts forecast that Universal Display will post 4.78 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders 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 yield of 0.96%. The ex-dividend date of this dividend is Monday, September 16th. Universal Display’s payout ratio is 34.78%.

Insiders Place Their Bets

In related news, EVP Julia J. Brown sold 10,358 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $175.00, for a total value of $1,812,650.00. Following the completion of the sale, the executive vice president now directly owns 56,624 shares in the company, valued at approximately $9,909,200. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Universal Display

Several hedge funds and other institutional investors have recently made changes to their positions in OLED. Vanguard Group Inc. raised its holdings in shares of Universal Display by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 4,567,374 shares of the semiconductor company’s stock worth $769,374,000 after buying an additional 50,233 shares in the last quarter. Jennison Associates LLC increased its stake in Universal Display by 0.4% during the 4th quarter. Jennison Associates LLC now owns 903,068 shares of the semiconductor company’s stock worth $172,721,000 after purchasing an additional 3,397 shares in the last quarter. Norges Bank acquired a new position in Universal Display during the fourth quarter worth $101,088,000. First Trust Advisors LP boosted its position in Universal Display by 20.7% during the fourth quarter. First Trust Advisors LP now owns 449,628 shares of the semiconductor company’s stock valued at $85,996,000 after purchasing an additional 76,967 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Universal Display by 66.6% in the 1st quarter. Janus Henderson Group PLC now owns 434,029 shares of the semiconductor company’s stock valued at $73,099,000 after buying an additional 173,496 shares during the last quarter. 78.19% of the stock is owned by institutional investors and hedge funds.

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.