Brokerages Set Universal Display Co. (NASDAQ:OLED) Target Price at $190.43

Universal Display Co. (NASDAQ:OLED) has been given an average rating of “Moderate Buy” by the seven brokerages that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $190.43.

OLED has been the topic of several research reports. Needham & Company LLC cut their target price on Universal Display from $215.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Oppenheimer dropped their target price on shares of Universal Display from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, January 2nd. Citigroup lowered their target price on shares of Universal Display from $200.00 to $162.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. Roth Mkm lifted their price objective on Universal Display from $207.00 to $213.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, The Goldman Sachs Group dropped their price target on shares of Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a research note on Thursday, February 6th.

Hedge Funds Weigh In On Universal Display

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Orion Capital Management LLC acquired a new position in Universal Display in the fourth quarter valued at approximately $29,000. Brooklyn Investment Group acquired a new position in shares of Universal Display during the 3rd quarter worth $30,000. Brown Brothers Harriman & Co. lifted its stake in Universal Display by 280.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 209 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 154 shares in the last quarter. True Wealth Design LLC purchased a new position in shares of Universal Display during the third quarter valued at approximately $36,000. Finally, Blue Trust Inc. increased its stake in Universal Display by 401.9% in the fourth quarter. Blue Trust Inc. now owns 261 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 209 shares during the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Price Performance

NASDAQ:OLED opened at $139.48 on Friday. The company has a 50-day moving average of $149.28 and a 200 day moving average of $167.37. Universal Display has a 1-year low of $136.70 and a 1-year high of $237.00. The firm has a market cap of $6.62 billion, a PE ratio of 30.00, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40.

Universal Display (NASDAQ:OLED) last announced its earnings results on Thursday, February 20th. The semiconductor company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.14. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. The business had revenue of $162.29 million during the quarter, compared to the consensus estimate of $152.75 million. Sell-side analysts anticipate that Universal Display will post 4.71 EPS for the current fiscal year.

Universal Display Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a dividend of $0.45 per share. The ex-dividend date was Monday, March 17th. This is a positive change from Universal Display’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 1.29%. Universal Display’s dividend payout ratio is 38.71%.

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.