Universal Display Corporation (NASDAQ:OLED) Receives $116.33 Consensus PT from Brokerages

Universal Display Corporation (NASDAQ:OLED) has been given an average rating of “Hold” by the eight analysts that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $116.3333.

OLED has been the topic of a number of recent analyst reports. Weiss Ratings lowered shares of Universal Display from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Needham & Company LLC lowered their target price on shares of Universal Display from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, July 31st. Oppenheimer reissued an “outperform” rating and set a $120.00 price target (down from $130.00) on shares of Universal Display in a research note on Friday, July 31st. Roth Capital set a $168.00 target price on Universal Display in a research note on Friday, May 1st. Finally, BTIG Research cut Universal Display to a “neutral” rating in a report on Friday, July 31st.

Universal Display Price Performance

Shares of Universal Display stock opened at $90.96 on Tuesday. The firm has a market capitalization of $4.18 billion, a P/E ratio of 22.02 and a beta of 1.54. Universal Display has a fifty-two week low of $76.42 and a fifty-two week high of $153.38. The company’s 50 day moving average price is $84.68 and its two-hundred day moving average price is $95.03.

Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, July 30th. The semiconductor company reported $1.06 EPS for the quarter, topping the consensus estimate of $1.03 by $0.03. The business had revenue of $152.16 million for the quarter, compared to the consensus estimate of $157.54 million. Universal Display had a net margin of 32.24% and a return on equity of 11.35%. The firm’s revenue was down 11.4% compared to the same quarter last year. During the same period last year, the company earned $1.41 EPS. On average, analysts expect that Universal Display will post 4.18 earnings per share for the current year.

Universal Display Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 2.2%. Universal Display’s dividend payout ratio is presently 48.43%.

Hedge Funds Weigh In On Universal Display

A number of hedge funds have recently modified their holdings of OLED. Sanctuary Advisors LLC purchased a new position in shares of Universal Display during the second quarter valued at about $1,023,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Universal Display in the second quarter valued at $10,309,000. Elevation Point Wealth Partners LLC bought a new stake in Universal Display in the second quarter worth about $296,000. Northwestern Mutual Wealth Management Co. purchased a new position in Universal Display during the 2nd quarter valued at $151,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Universal Display during the second quarter valued at $2,265,000. 78.19% of the stock is currently owned by institutional investors.

Universal Display Company Profile

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.