Brokerages Set Universal Display Corporation (NASDAQ:OLED) Price Target at $130.60

Universal Display Corporation (NASDAQ:OLEDGet Free Report) has received a consensus recommendation of “Hold” from the six ratings firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $130.60.

Several research analysts recently commented on OLED shares. Oppenheimer dropped their target price on shares of Universal Display from $160.00 to $130.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. Wall Street Zen upgraded shares of Universal Display from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Citigroup dropped their target price on shares of Universal Display from $105.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Zacks Research downgraded shares of Universal Display from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. Finally, Needham & Company LLC dropped their price objective on shares of Universal Display from $145.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, May 1st.

Get Our Latest Report on OLED

Universal Display Trading Down 2.2%

OLED stock opened at $92.12 on Thursday. Universal Display has a 1 year low of $83.64 and a 1 year high of $163.21. The company has a fifty day simple moving average of $93.73 and a 200 day simple moving average of $107.89. The firm has a market cap of $4.31 billion, a PE ratio of 20.56 and a beta of 1.54.

Universal Display (NASDAQ:OLEDGet Free Report) last released its quarterly earnings data on Thursday, April 30th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.37). Universal Display had a net margin of 34.08% and a return on equity of 12.34%. The business had revenue of $142.21 million during the quarter, compared to analyst estimates of $161.23 million. During the same period in the previous year, the firm posted $1.35 EPS. The firm’s revenue for the quarter was down 14.5% on a year-over-year basis. As a group, analysts forecast that Universal Display will post 4.23 EPS for the current fiscal year.

Universal Display Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 2.2%. Universal Display’s payout ratio is presently 44.64%.

Institutional Trading of Universal Display

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vestor Capital LLC increased its stake in Universal Display by 968.4% in the first quarter. Vestor Capital LLC now owns 3,045 shares of the semiconductor company’s stock valued at $279,000 after acquiring an additional 2,760 shares during the period. Bank of America Corp DE boosted its position in Universal Display by 3.2% in the first quarter. Bank of America Corp DE now owns 124,570 shares of the semiconductor company’s stock valued at $11,418,000 after buying an additional 3,872 shares in the last quarter. Edgestream Partners L.P. acquired a new position in Universal Display in the first quarter valued at about $969,000. Amundi boosted its position in Universal Display by 54.0% in the first quarter. Amundi now owns 459,316 shares of the semiconductor company’s stock valued at $42,079,000 after buying an additional 161,069 shares in the last quarter. Finally, California State Teachers Retirement System boosted its position in Universal Display by 22.6% in the first quarter. California State Teachers Retirement System now owns 52,430 shares of the semiconductor company’s stock valued at $4,806,000 after buying an additional 9,665 shares in the last quarter. Institutional investors own 78.19% of the company’s stock.

About Universal Display

(Get Free Report)

Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.

Further Reading

Analyst Recommendations for Universal Display (NASDAQ:OLED)

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