Universal Display (NASDAQ:OLED) Sets New 52-Week High After Analyst Upgrade

Universal Display Co. (NASDAQ:OLED)’s stock price hit a new 52-week high during mid-day trading on Tuesday after Needham & Company LLC raised their price target on the stock from $198.00 to $242.00. Needham & Company LLC currently has a buy rating on the stock. Universal Display traded as high as $212.79 and last traded at $212.00, with a volume of 24703 shares. The stock had previously closed at $208.61.

Insiders Place Their Bets

In other Universal Display news, SVP Mauro Premutico sold 8,202 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $176.82, for a total transaction of $1,450,277.64. Following the completion of the sale, the senior vice president now owns 28,743 shares in the company, valued at $5,082,337.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Universal Display news, EVP Julia J. Brown sold 10,358 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $175.00, for a total transaction of $1,812,650.00. Following the completion of the sale, the executive vice president now owns 56,624 shares in the company, valued at $9,909,200. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Mauro Premutico sold 8,202 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $176.82, for a total value of $1,450,277.64. Following the sale, the senior vice president now owns 28,743 shares of the company’s stock, valued at approximately $5,082,337.26. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.

Institutional Trading of Universal Display

Several hedge funds and other institutional investors have recently made changes to their positions in OLED. Norges Bank purchased a new stake in shares of Universal Display during the 4th quarter valued at $101,088,000. Janus Henderson Group PLC raised its stake in Universal Display by 66.6% in the 1st quarter. Janus Henderson Group PLC now owns 434,029 shares of the semiconductor company’s stock worth $73,099,000 after acquiring an additional 173,496 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc purchased a new position in Universal Display in the 4th quarter worth $29,797,000. TimesSquare Capital Management LLC raised its stake in Universal Display by 327.5% in the 4th quarter. TimesSquare Capital Management LLC now owns 198,899 shares of the semiconductor company’s stock worth $38,041,000 after acquiring an additional 152,374 shares during the last quarter. Finally, Crestwood Advisors Group LLC purchased a new position in Universal Display in the 3rd quarter worth $20,936,000. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Stock Performance

The company has a market cap of $10.03 billion, a PE ratio of 45.35, a price-to-earnings-growth ratio of 2.28 and a beta of 1.42. The stock has a 50 day moving average of $182.23 and a 200-day moving average of $176.73.

Universal Display (NASDAQ:OLED) last issued its earnings results on Thursday, May 2nd. The semiconductor company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.14. The company had revenue of $165.26 million during the quarter, compared to analyst estimates of $150.75 million. Universal Display had a return on equity of 15.57% and a net margin of 36.00%. The firm’s quarterly revenue was up 26.7% on a year-over-year basis. During the same quarter last year, the business posted $0.83 EPS. Equities research analysts forecast that Universal Display Co. will post 4.75 EPS for the current year.

Universal Display Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.40 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a yield of 0.76%. Universal Display’s dividend payout ratio (DPR) is 34.78%.

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.