Brokerages Set Universal Display Co. (OLED) Target Price at $168.44

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Universal Display Co. (NASDAQ:OLED) has received an average recommendation of “Buy” from the fourteen research firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $168.44.

A number of research firms have issued reports on OLED. ValuEngine raised Universal Display from a “sell” rating to a “hold” rating in a research report on Tuesday, July 10th. BidaskClub cut Universal Display from a “sell” rating to a “strong sell” rating in a research report on Friday, June 15th. Oppenheimer upgraded Universal Display from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a research report on Friday, April 6th. Roth Capital began coverage on Universal Display in a research report on Monday, May 21st. They issued a “buy” rating and a $136.00 price target for the company. Finally, Zacks Investment Research cut Universal Display from a “hold” rating to a “sell” rating in a research report on Tuesday, April 3rd.

NASDAQ:OLED traded down $2.25 during trading hours on Friday, reaching $95.65. The stock had a trading volume of 652,936 shares, compared to its average volume of 889,565. Universal Display has a 12-month low of $78.75 and a 12-month high of $209.00. The company has a market capitalization of $4.61 billion, a P/E ratio of 39.36 and a beta of 1.36.

Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, May 3rd. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.13. Universal Display had a return on equity of 17.53% and a net margin of 30.74%. The business had revenue of $43.57 million during the quarter, compared to the consensus estimate of $50.85 million. During the same period last year, the business posted $0.22 earnings per share. The business’s revenue for the quarter was down 21.6% on a year-over-year basis. analysts forecast that Universal Display will post 1.81 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 29th. Stockholders of record on Friday, June 15th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.25%. The ex-dividend date of this dividend was Thursday, June 14th. Universal Display’s dividend payout ratio (DPR) is presently 9.88%.

In other news, Director Rosemarie B. Greco sold 3,750 shares of Universal Display stock in a transaction on Thursday, June 7th. The stock was sold at an average price of $98.15, for a total value of $368,062.50. Following the completion of the transaction, the director now directly owns 10,700 shares in the company, valued at $1,050,205. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 4.00% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Assetmark Inc. boosted its stake in Universal Display by 187.9% during the first quarter. Assetmark Inc. now owns 996 shares of the semiconductor company’s stock valued at $101,000 after buying an additional 650 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its stake in Universal Display by 93.6% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,274 shares of the semiconductor company’s stock valued at $129,000 after buying an additional 616 shares during the period. US Bancorp DE boosted its stake in Universal Display by 125.0% during the first quarter. US Bancorp DE now owns 1,640 shares of the semiconductor company’s stock valued at $165,000 after buying an additional 911 shares during the period. Captrust Financial Advisors bought a new stake in Universal Display during the fourth quarter valued at $193,000. Finally, Cornercap Investment Counsel Inc. bought a new stake in Universal Display during the first quarter valued at $202,000. Institutional investors own 65.23% 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 flat panel displays and solid-state lighting applications. As of February 22, 2018, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 4,500 issued and pending patents worldwide.

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Analyst Recommendations for Universal Display (NASDAQ:OLED)

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