Universal Display (NASDAQ:OLED) Given New $242.00 Price Target at Needham & Company LLC

Universal Display (NASDAQ:OLED) had its price target upped by Needham & Company LLC from $198.00 to $242.00 in a report released on Tuesday, Marketbeat reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

Universal Display Stock Performance

OLED stock opened at $213.44 on Tuesday. The firm has a market cap of $10.13 billion, a price-to-earnings ratio of 46.40, a PEG ratio of 2.28 and a beta of 1.42. The firm has a 50-day simple moving average of $183.42 and a two-hundred day simple moving average of $176.93. Universal Display has a one year low of $133.67 and a one year high of $215.06.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.14. Universal Display had a net margin of 36.00% and a return on equity of 15.57%. The firm had revenue of $165.26 million for the quarter, compared to the consensus estimate of $150.75 million. During the same quarter in the prior year, the company posted $0.83 earnings per share. The company’s revenue for the quarter was up 26.7% compared to the same quarter last year. As a group, equities analysts predict that Universal Display will post 4.75 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.60 annualized dividend and a yield of 0.75%. Universal Display’s dividend payout ratio (DPR) is presently 34.78%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Universal Display in the 4th quarter worth $25,000. ORG Partners LLC acquired a new stake in shares of Universal Display during the 1st quarter worth about $27,000. Orion Capital Management LLC acquired a new position in Universal Display in the 3rd quarter valued at about $31,000. Principal Securities Inc. acquired a new position in Universal Display in the 4th quarter valued at about $34,000. Finally, Tsfg LLC acquired a new position in Universal Display in the 1st quarter valued at about $34,000. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Company Profile

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.