TD Cowen Issues Pessimistic Forecast for Universal Display (NASDAQ:OLED) Stock Price

Universal Display (NASDAQ:OLED) had its target price cut by TD Cowen from $250.00 to $225.00 in a report released on Thursday morning, MarketBeat Ratings reports. They currently have a buy rating on the semiconductor company’s stock.

Other analysts also recently issued reports about the company. Roth Mkm raised their price target on Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. The Goldman Sachs Group lifted their target price on Universal Display from $208.00 to $243.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Oppenheimer boosted their price target on Universal Display from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, July 3rd. Finally, Susquehanna upped their target price on shares of Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.63.

Universal Display Trading Down 0.0 %

Shares of Universal Display stock opened at $180.25 on Thursday. The company’s fifty day simple moving average is $201.32 and its two-hundred day simple moving average is $194.22. The company has a market cap of $8.55 billion, a P/E ratio of 36.19, a PEG ratio of 1.93 and a beta of 1.43. Universal Display has a 12-month low of $138.60 and a 12-month high of $237.00.

Universal Display (NASDAQ:OLED) last posted its earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.21. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. The business had revenue of $161.63 million for the quarter, compared to analysts’ expectations of $165.28 million. During the same quarter in the prior year, the business earned $1.08 EPS. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. Analysts predict that Universal Display will post 4.81 EPS for the current fiscal year.

Universal Display Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Tuesday, December 17th. Universal Display’s payout ratio is currently 32.13%.

Hedge Funds Weigh In On Universal Display

Institutional investors have recently made changes to their positions in the stock. Assetmark Inc. bought a new position in Universal Display during the 3rd quarter valued at $29,000. V Square Quantitative Management LLC acquired a new position in Universal Display during the third quarter worth $31,000. ORG Partners LLC acquired a new position in Universal Display during the first quarter worth $27,000. Nisa Investment Advisors LLC grew its position in shares of Universal Display by 60.2% in the third quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 65 shares during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Universal Display in the second quarter valued at about $44,000. 78.19% of the stock is owned by institutional investors.

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.