Universal Display Co. (NASDAQ:OLED) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Universal Display Co. (NASDAQ:OLED) have been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $199.86.

A number of equities research analysts have weighed in on OLED shares. Oppenheimer reiterated an “outperform” rating and set a $200.00 price target (down previously from $210.00) on shares of Universal Display in a research note on Friday, February 23rd. Needham & Company LLC reiterated a “buy” rating and set a $198.00 price target on shares of Universal Display in a research note on Tuesday, March 26th. Citigroup reiterated a “neutral” rating and set a $180.00 price target (up previously from $161.00) on shares of Universal Display in a research note on Friday, January 19th. Finally, TD Cowen lifted their price target on shares of Universal Display from $165.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd.

Universal Display Trading Down 2.1 %

Shares of OLED stock opened at $149.81 on Friday. Universal Display has a 1 year low of $125.98 and a 1 year high of $194.84. The firm’s fifty day simple moving average is $168.17 and its 200 day simple moving average is $169.13. The firm has a market capitalization of $7.10 billion, a P/E ratio of 35.33, a price-to-earnings-growth ratio of 1.67 and a beta of 1.45.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, February 22nd. The semiconductor company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.11. Universal Display had a net margin of 35.22% and a return on equity of 14.85%. The firm had revenue of $158.32 million for the quarter, compared to the consensus estimate of $161.08 million. During the same quarter in the previous year, the company earned $1.36 earnings per share. The business’s revenue was down 6.3% compared to the same quarter last year. Equities research analysts anticipate that Universal Display will post 4.72 EPS for the current fiscal year.

Universal Display Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Thursday, March 14th. This is an increase from Universal Display’s previous quarterly dividend of $0.35. Universal Display’s payout ratio is currently 37.74%.

Institutional Investors Weigh In On Universal Display

Several institutional investors and hedge funds have recently made changes to their positions in the company. State of Michigan Retirement System boosted its stake in shares of Universal Display by 2.9% in the 1st quarter. State of Michigan Retirement System now owns 10,705 shares of the semiconductor company’s stock valued at $1,803,000 after purchasing an additional 300 shares in the last quarter. Tsfg LLC acquired a new position in Universal Display during the 1st quarter worth about $34,000. Wealth Enhancement Advisory Services LLC lifted its position in Universal Display by 0.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 132,024 shares of the semiconductor company’s stock worth $22,239,000 after buying an additional 399 shares in the last quarter. Cardinal Capital Management lifted its position in Universal Display by 16.1% during the 1st quarter. Cardinal Capital Management now owns 8,389 shares of the semiconductor company’s stock worth $1,413,000 after buying an additional 1,161 shares in the last quarter. Finally, Red Spruce Capital LLC lifted its position in Universal Display by 13.2% during the 1st quarter. Red Spruce Capital LLC now owns 11,070 shares of the semiconductor company’s stock worth $1,865,000 after buying an additional 1,290 shares in the last quarter. Institutional investors and hedge funds 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.