Universal Display Co. (NASDAQ:OLED) Receives $210.71 Consensus Target Price from Analysts

Shares of Universal Display Co. (NASDAQ:OLED) have received a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $210.71.

Several research analysts have weighed in on the company. Oppenheimer lowered their price target on Universal Display from $240.00 to $220.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. TD Cowen dropped their target price on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Finally, Needham & Company LLC lowered their price target on Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st.

Universal Display Trading Up 1.3 %

OLED stock opened at $153.46 on Thursday. The stock has a market cap of $7.28 billion, a PE ratio of 30.82, a price-to-earnings-growth ratio of 1.74 and a beta of 1.40. The stock has a 50-day moving average price of $172.69 and a two-hundred day moving average price of $192.76. Universal Display has a 1 year low of $148.09 and a 1 year high of $237.00.

Universal Display (NASDAQ:OLED) last released its earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $165.28 million. During the same quarter last year, the firm earned $1.08 earnings per share. The firm’s revenue for the quarter was up 14.6% compared to the same quarter last year. On average, analysts forecast that Universal Display will post 4.8 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The firm 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 $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Tuesday, December 17th. Universal Display’s dividend payout ratio (DPR) is 32.13%.

Insider Transactions at Universal Display

In other news, Director Lawrence Lacerte bought 742 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was bought at an average cost of $180.89 per share, for a total transaction of $134,220.38. Following the transaction, the director now owns 122,372 shares of the company’s stock, valued at $22,135,871.08. This represents a 0.61 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Universal Display

Several hedge funds and other institutional investors have recently modified their holdings of OLED. Primecap Management Co. CA grew its stake in shares of 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 buying an additional 7,435 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Universal Display by 1.9% in the third quarter. Geode Capital Management LLC now owns 799,352 shares of the semiconductor company’s stock valued at $167,825,000 after buying an additional 15,015 shares during the period. Kayne Anderson Rudnick Investment Management LLC bought a new stake in Universal Display during the 2nd quarter worth approximately $127,668,000. Van ECK Associates Corp increased its position in Universal Display by 27.2% in the 3rd quarter. Van ECK Associates Corp now owns 507,440 shares of the semiconductor company’s stock valued at $101,914,000 after acquiring an additional 108,394 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Universal Display by 27.3% during the second quarter. Dimensional Fund Advisors LP now owns 469,570 shares of the semiconductor company’s stock worth $98,725,000 after purchasing an additional 100,809 shares during the period. 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.