Universal Display Corporation (NASDAQ:OLED) Stock Has Average Target Price of $116.33 According to Analysts

Universal Display Corporation (NASDAQ:OLED) has been assigned a consensus rating of “Hold” from the eight research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $116.33.

OLED has been the subject of several analyst reports. Oppenheimer reaffirmed 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. BTIG Research cut Universal Display to a “neutral” rating in a report on Friday, July 31st. Zacks Research raised shares of Universal Display from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 13th. Weiss Ratings lowered shares of Universal Display from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 28th. Finally, Needham & Company LLC dropped their price target on shares of Universal Display from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, July 31st.

Universal Display Trading Up 3.9%

Shares of NASDAQ:OLED opened at $80.37 on Wednesday. The firm has a 50 day moving average of $82.60 and a 200-day moving average of $87.44. Universal Display has a 12 month low of $73.23 and a 12 month high of $153.38. The stock has a market capitalization of $3.69 billion, a PE ratio of 19.46 and a beta of 1.53.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.03. The company had revenue of $152.16 million for the quarter, compared to analyst estimates of $157.54 million. Universal Display had a return on equity of 11.35% and a net margin of 32.24%.The company’s revenue for the quarter was down 11.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.41 EPS. On average, research analysts predict that Universal Display will post 4.17 EPS for the current fiscal year.

Universal Display Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Wednesday, September 16th. Universal Display’s dividend payout ratio (DPR) is currently 48.43%.

Institutional Trading of Universal Display

A number of institutional investors have recently bought and sold shares of the company. XXEC Inc. purchased a new position in Universal Display in the second quarter valued at approximately $2,508,286,000. BlackRock Inc. purchased a new stake in Universal Display during the second quarter valued at about $373,931,000. Primecap Management Co. CA purchased a new stake in Universal Display during the second quarter valued at about $190,136,000. Geode Capital Management LLC boosted its position in Universal Display by 25.0% during the fourth quarter. Geode Capital Management LLC now owns 1,109,077 shares of the semiconductor company’s stock worth $129,537,000 after purchasing an additional 222,108 shares during the period. Finally, First Trust Advisors LP boosted its position in Universal Display by 21.1% during the first quarter. First Trust Advisors LP now owns 976,423 shares of the semiconductor company’s stock worth $89,499,000 after purchasing an additional 169,969 shares during the period. Institutional investors own 78.19% of the company’s stock.

About Universal Display

Universal Display Corporation develops and commercializes technologies and materials used in organic light-emitting diode (OLED) displays and lighting. The company’s portfolio includes phosphorescent OLED (PHOLED) technologies, which are designed to improve display efficiency, as well as OLED material systems and related technologies.

Universal Display generates revenue primarily through licensing its OLED intellectual property and selling OLED materials, including phosphorescent emitter materials and related products.