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

Shares of Universal Display Corporation (NASDAQ:OLED) have earned an average recommendation of “Hold” from the six brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $130.60.

Several research firms have recently weighed in on OLED. Weiss Ratings restated a “hold (c-)” rating on shares of Universal Display in a research report on Thursday, June 18th. Citigroup dropped their target price on shares of Universal Display from $105.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, May 4th. The Goldman Sachs Group set a $135.00 target price on shares of Universal Display in a research report on Tuesday, April 21st. Oppenheimer dropped their price objective on shares of Universal Display from $160.00 to $130.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. Finally, Needham & Company LLC dropped their price target on Universal Display from $145.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, May 1st.

Institutional Investors Weigh In On Universal Display

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in Universal Display in the 4th quarter valued at about $92,756,000. JPMorgan Chase & Co. raised its position in Universal Display by 86.4% in the fourth quarter. JPMorgan Chase & Co. now owns 880,678 shares of the semiconductor company’s stock valued at $102,846,000 after purchasing an additional 408,315 shares during the period. Analog Century Management LP purchased a new stake in Universal Display in the fourth quarter valued at $46,914,000. UBS Group AG grew its holdings in shares of Universal Display by 100.8% during the 4th quarter. UBS Group AG now owns 646,787 shares of the semiconductor company’s stock worth $75,532,000 after purchasing an additional 324,677 shares during the period. Finally, XXEC Inc. grew its holdings in shares of Universal Display by 489.3% during the 1st quarter. XXEC Inc. now owns 386,937 shares of the semiconductor company’s stock worth $35,467,000 after purchasing an additional 321,276 shares during the period. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Universal Display Price Performance

Universal Display stock opened at $82.18 on Friday. The stock has a market capitalization of $3.84 billion, a PE ratio of 18.34 and a beta of 1.54. The business has a 50 day simple moving average of $87.14 and a 200-day simple moving average of $99.36. Universal Display has a 12 month low of $77.15 and a 12 month high of $153.38.

Universal Display (NASDAQ:OLED) last announced its earnings results on Thursday, April 30th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $161.23 million. During the same quarter last year, the business earned $1.35 EPS. The company’s quarterly revenue was down 14.5% on a year-over-year basis. On average, equities research analysts anticipate that Universal Display will post 4.23 EPS for the current fiscal year.

Universal Display Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 2.4%. Universal Display’s payout ratio is presently 44.64%.

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.