Universal Display (NASDAQ:OLED) Sets New 52-Week High After Analyst Upgrade

Universal Display Co. (NASDAQ:OLED)’s stock price reached a new 52-week high during trading on Tuesday after Needham & Company LLC raised their price target on the stock from $198.00 to $242.00. Needham & Company LLC currently has a buy rating on the stock. Universal Display traded as high as $212.79 and last traded at $212.00, with a volume of 24703 shares traded. The stock had previously closed at $208.61.

Insiders Place Their Bets

In other Universal Display news, EVP Julia J. Brown sold 10,358 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $175.00, for a total value of $1,812,650.00. Following the completion of the transaction, the executive vice president now owns 56,624 shares in the company, valued at $9,909,200. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Julia J. Brown sold 10,358 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $175.00, for a total transaction of $1,812,650.00. Following the completion of the transaction, the executive vice president now owns 56,624 shares in the company, valued at $9,909,200. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Mauro Premutico sold 8,202 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $176.82, for a total transaction of $1,450,277.64. Following the transaction, the senior vice president now owns 28,743 shares of the company’s stock, valued at approximately $5,082,337.26. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Universal Display

A number of institutional investors and hedge funds have recently bought and sold shares of OLED. Vontobel Holding Ltd. raised its holdings in shares of Universal Display by 6.4% in the fourth quarter. Vontobel Holding Ltd. now owns 309,804 shares of the semiconductor company’s stock valued at $59,253,000 after buying an additional 18,582 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Universal Display by 18.3% during the fourth quarter. Van ECK Associates Corp now owns 270,184 shares of the semiconductor company’s stock valued at $51,676,000 after buying an additional 41,795 shares during the period. FengHe Fund Management Pte. Ltd. purchased a new position in shares of Universal Display during the fourth quarter valued at approximately $5,451,000. Weiss Asset Management LP purchased a new position in Universal Display during the fourth quarter worth approximately $1,602,000. Finally, Linden Thomas Advisory Services LLC raised its stake in Universal Display by 3.3% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 14,848 shares of the semiconductor company’s stock worth $2,840,000 after purchasing an additional 469 shares during the period. 78.19% of the stock is owned by hedge funds and other institutional investors.

Universal Display Stock Up 1.3 %

The company has a market cap of $10.03 billion, a PE ratio of 45.35, a P/E/G ratio of 2.28 and a beta of 1.42. The stock’s 50 day simple moving average is $182.23 and its two-hundred day simple moving average is $176.73.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.14. The company had revenue of $165.26 million for the quarter, compared to the consensus estimate of $150.75 million. Universal Display had a net margin of 36.00% and a return on equity of 15.57%. Universal Display’s revenue was up 26.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.83 earnings per share. Analysts forecast that Universal Display Co. will post 4.75 EPS for the current year.

Universal Display Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Friday, June 14th. Universal Display’s dividend payout ratio is presently 34.78%.

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.