Oppenheimer Increases Universal Display (NASDAQ:OLED) Price Target to $250.00

Universal Display (NASDAQ:OLED) had its price target upped by Oppenheimer from $200.00 to $250.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have an outperform rating on the semiconductor company’s stock.

Separately, Needham & Company LLC upped their target price on Universal Display from $198.00 to $242.00 and gave the stock a buy rating in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $213.29.

Universal Display Price Performance

NASDAQ OLED opened at $217.98 on Wednesday. The firm has a market capitalization of $10.34 billion, a price-to-earnings ratio of 47.39, a price-to-earnings-growth ratio of 2.28 and a beta of 1.42. The company has a 50 day simple moving average of $184.65 and a 200-day simple moving average of $177.22. Universal Display has a 52-week low of $133.67 and a 52-week high of $219.31.

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

Universal Display Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $0.40 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.73%. Universal Display’s dividend payout ratio is currently 34.78%.

Insider Transactions at Universal Display

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

Institutional Trading of Universal Display

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OLED. Peapack Gladstone Financial Corp boosted its position in shares of Universal Display by 1.8% in the fourth quarter. Peapack Gladstone Financial Corp now owns 3,367 shares of the semiconductor company’s stock valued at $643,000 after acquiring an additional 60 shares during the period. Red Spruce Capital LLC raised its stake in Universal Display by 0.7% during the 2nd quarter. Red Spruce Capital LLC now owns 11,146 shares of the semiconductor company’s stock valued at $2,343,000 after purchasing an additional 76 shares during the last quarter. 1492 Capital Management LLC boosted its holdings in Universal Display by 0.8% in the 4th quarter. 1492 Capital Management LLC now owns 9,543 shares of the semiconductor company’s stock valued at $1,825,000 after purchasing an additional 79 shares during the period. Spire Wealth Management grew its position in Universal Display by 11.1% in the 1st quarter. Spire Wealth Management now owns 1,000 shares of the semiconductor company’s stock worth $168,000 after purchasing an additional 100 shares during the last quarter. Finally, Bahl & Gaynor Inc. increased its holdings in shares of Universal Display by 0.5% during the 1st quarter. Bahl & Gaynor Inc. now owns 18,645 shares of the semiconductor company’s stock worth $3,141,000 after purchasing an additional 101 shares during the period. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Company Profile

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.