Universal Display Corporation (NASDAQ:OLED) Receives $116.33 Average PT from Analysts

Shares of Universal Display Corporation (NASDAQ:OLED) have been assigned an average recommendation of “Hold” from the eight research firms that are currently covering the stock, Marketbeat reports. One equities 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 brokers that have covered the stock in the last year is $116.3333.

A number of equities analysts have commented on the stock. Susquehanna reduced their target price on shares of Universal Display from $110.00 to $90.00 and set a “neutral” rating on the stock in a research note on Friday, July 31st. Oppenheimer reissued an “outperform” rating and issued a $120.00 price target (down from $130.00) on shares of Universal Display in a research note on Friday, July 31st. Needham & Company LLC cut their price target on shares of Universal Display from $120.00 to $100.00 and set a “buy” rating for the company in a report on Friday, July 31st. Zacks Research raised shares of Universal Display from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 13th. Finally, Citigroup decreased their price objective on Universal Display from $100.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, August 3rd.

Universal Display Price Performance

OLED opened at $82.33 on Friday. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of 19.93 and a beta of 1.56. The company’s 50 day simple moving average is $83.50 and its two-hundred day simple moving average is $90.72. Universal Display has a 1-year low of $76.42 and a 1-year high of $153.38.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.03. The business had revenue of $152.16 million during the quarter, compared to analyst estimates of $157.54 million. Universal Display had a return on equity of 11.35% and a net margin of 32.24%.The business’s revenue was down 11.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.41 earnings per share. On average, equities analysts anticipate that Universal Display will post 4.17 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, September 16th. Universal Display’s dividend payout ratio is 48.43%.

Institutional Trading of Universal Display

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Focus Partners Wealth lifted its position in shares of Universal Display by 6.4% during the first quarter. Focus Partners Wealth now owns 3,680 shares of the semiconductor company’s stock worth $513,000 after purchasing an additional 221 shares in the last quarter. American Century Companies Inc. lifted its stake in Universal Display by 2.3% in the second quarter. American Century Companies Inc. now owns 12,766 shares of the semiconductor company’s stock worth $1,972,000 after acquiring an additional 285 shares during the last quarter. Invesco Ltd. grew its holdings in Universal Display by 1.8% during the 2nd quarter. Invesco Ltd. now owns 112,982 shares of the semiconductor company’s stock worth $17,451,000 after acquiring an additional 2,040 shares in the last quarter. Marshall Wace LLP acquired a new position in Universal Display during the 2nd quarter worth approximately $2,220,000. Finally, Cresset Asset Management LLC increased its position in shares of Universal Display by 64.2% in the 2nd quarter. Cresset Asset Management LLC now owns 2,512 shares of the semiconductor company’s stock valued at $388,000 after purchasing an additional 982 shares during the last quarter. 78.19% of the stock is owned by institutional investors and hedge funds.

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.