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

Shares of Universal Display Co. (NASDAQ:OLED) have received a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $225.88.

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

Institutional Investors Weigh In On Universal Display

Several hedge funds have recently modified their holdings of OLED. Peapack Gladstone Financial Corp raised its position in Universal Display by 1.8% during the 4th quarter. Peapack Gladstone Financial Corp now owns 3,367 shares of the semiconductor company’s stock worth $643,000 after buying an additional 60 shares during the last quarter. Red Spruce Capital LLC increased its stake in shares of Universal Display by 0.7% during the second quarter. Red Spruce Capital LLC now owns 11,146 shares of the semiconductor company’s stock worth $2,343,000 after acquiring an additional 76 shares during the period. 1492 Capital Management LLC raised its holdings in Universal Display by 0.8% during the fourth quarter. 1492 Capital Management LLC now owns 9,543 shares of the semiconductor company’s stock worth $1,825,000 after purchasing an additional 79 shares in the last quarter. CIBC Asset Management Inc lifted its position in Universal Display by 7.6% in the second quarter. CIBC Asset Management Inc now owns 1,351 shares of the semiconductor company’s stock valued at $284,000 after purchasing an additional 96 shares during the period. Finally, Spire Wealth Management boosted its holdings in Universal Display by 11.1% in the 1st quarter. Spire Wealth Management now owns 1,000 shares of the semiconductor company’s stock valued at $168,000 after purchasing an additional 100 shares in the last quarter. 78.19% of the stock is owned by institutional investors and hedge funds.

Universal Display Stock Performance

Shares of NASDAQ OLED opened at $203.03 on Tuesday. The stock’s 50-day simple moving average is $200.35 and its 200-day simple moving average is $184.15. The firm has a market capitalization of $9.63 billion, a PE ratio of 44.14, a price-to-earnings-growth ratio of 1.97 and a beta of 1.41. Universal Display has a fifty-two week low of $133.67 and a fifty-two week high of $237.00.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.04). Universal Display had a return on equity of 15.25% and a net margin of 35.74%. The company had revenue of $158.50 million for the quarter, compared to analyst estimates of $159.46 million. During the same period in the previous year, the business posted $1.04 EPS. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, sell-side analysts forecast that Universal Display will post 4.81 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Monday, September 16th. Universal Display’s payout ratio is currently 34.78%.

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.