Brokerages Set Universal Display Co. (NASDAQ:OLED) Price Target at $225.88

Universal Display Co. (NASDAQ:OLED) has been assigned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $225.88.

OLED has been the subject of a number of research reports. Oppenheimer lifted their target price on shares of Universal Display from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 3rd. TD Cowen upped their target price on Universal Display from $210.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. The Goldman Sachs Group increased their target price on Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Needham & Company LLC boosted their price target on Universal Display from $198.00 to $242.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Finally, Roth Mkm increased 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.

Universal Display Price Performance

NASDAQ OLED opened at $189.21 on Friday. The business has a 50 day moving average price of $206.23 and a 200 day moving average price of $182.87. The company has a market capitalization of $8.98 billion, a P/E ratio of 41.13, a PEG ratio of 2.03 and a beta of 1.42. Universal Display has a 1-year low of $133.67 and a 1-year high of $237.00.

Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, August 1st. The semiconductor company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.04). The firm had revenue of $158.50 million during the quarter, compared to analyst estimates of $159.46 million. Universal Display had a net margin of 35.74% and a return on equity of 15.25%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the company posted $1.04 EPS. On average, research analysts expect that Universal Display will post 4.79 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.85%. The ex-dividend date is Monday, September 16th. Universal Display’s dividend payout ratio (DPR) is 34.78%.

Hedge Funds Weigh In On Universal Display

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Universal Display by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 4,567,374 shares of the semiconductor company’s stock worth $769,374,000 after buying an additional 50,233 shares during the period. Primecap Management Co. CA increased its stake in Universal Display by 0.4% during the second quarter. Primecap Management Co. CA now owns 1,895,017 shares of the semiconductor company’s stock worth $398,427,000 after acquiring an additional 7,435 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Universal Display by 0.4% in the 4th quarter. Jennison Associates LLC now owns 903,068 shares of the semiconductor company’s stock worth $172,721,000 after purchasing an additional 3,397 shares during the period. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of Universal Display in the 2nd quarter valued at about $127,668,000. Finally, Norges Bank purchased a new stake in shares of Universal Display during the 4th quarter worth about $101,088,000. 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.