Brokerages Set Universal Display Co. (NASDAQ:OLED) Target Price at $215.63

Universal Display Co. (NASDAQ:OLED) has been given an average recommendation of “Moderate Buy” by the eight analysts that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $215.63.

A number of equities research analysts have weighed in on the stock. Needham & Company LLC dropped their price target on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Susquehanna lifted their target price on shares of Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Oppenheimer decreased their price target on Universal Display from $240.00 to $220.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Roth Mkm lifted their price objective on Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, TD Cowen cut their price objective on Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, October 31st.

Universal Display Stock Performance

Shares of Universal Display stock opened at $161.80 on Friday. The stock has a 50 day moving average of $194.63 and a 200 day moving average of $195.75. The firm has a market capitalization of $7.68 billion, a price-to-earnings ratio of 32.53, a PEG ratio of 1.80 and a beta of 1.43. Universal Display has a fifty-two week low of $148.75 and a fifty-two week high of $237.00.

Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.21. The business had revenue of $161.63 million during the quarter, compared to analysts’ expectations of $165.28 million. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. The company’s revenue was up 14.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.08 EPS. Analysts forecast that Universal Display will post 4.8 EPS for the current year.

Universal Display Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.60 annualized dividend and a yield of 0.99%. Universal Display’s dividend payout ratio (DPR) is 32.13%.

Insider Buying and Selling at Universal Display

In other news, Director Lawrence Lacerte acquired 742 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was acquired at an average cost of $180.89 per share, with a total value of $134,220.38. Following the transaction, the director now owns 122,372 shares in the company, valued at approximately $22,135,871.08. This trade represents a 0.61 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Universal Display

Several large investors have recently bought and sold shares of OLED. Price T Rowe Associates Inc. MD increased its holdings in shares of Universal Display by 2.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,867 shares of the semiconductor company’s stock valued at $3,852,000 after acquiring an additional 616 shares during the last quarter. Caxton Associates LP purchased a new position in Universal Display in the first quarter valued at approximately $4,848,000. Janus Henderson Group PLC raised its holdings in Universal Display by 66.6% during the first quarter. Janus Henderson Group PLC now owns 434,029 shares of the semiconductor company’s stock worth $73,099,000 after purchasing an additional 173,496 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Universal Display during the 1st quarter worth approximately $620,000. Finally, Motley Fool Asset Management LLC acquired a new position in shares of Universal Display in the 1st quarter valued at $626,000. Hedge funds and other institutional investors own 78.19% of the company’s stock.

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.