Universal Display Co. (NASDAQ:OLED) Receives Average Rating of “Moderate Buy” from Brokerages

Universal Display Co. (NASDAQ:OLED) has earned a consensus recommendation of “Moderate Buy” from the eight research firms that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $225.88.

A number of analysts have recently issued reports on the stock. Needham & Company LLC increased their price objective on shares of Universal Display from $198.00 to $242.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. The Goldman Sachs Group boosted their price objective on Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Oppenheimer upped their price objective on Universal Display from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 3rd. Roth Mkm lifted their target price on Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, TD Cowen upped their price target on Universal Display from $210.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Universal Display by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 4,567,374 shares of the semiconductor company’s stock worth $769,374,000 after purchasing an additional 50,233 shares during the period. Primecap Management Co. CA boosted its stake in Universal Display by 0.4% during the second quarter. Primecap Management Co. CA now owns 1,895,017 shares of the semiconductor company’s stock worth $398,427,000 after buying an additional 7,435 shares during the period. Kayne Anderson Rudnick Investment Management LLC bought a new position in Universal Display during the second quarter valued at $127,668,000. Norges Bank purchased a new stake in shares of Universal Display in the fourth quarter valued at $101,088,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Universal Display by 27.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 469,570 shares of the semiconductor company’s stock worth $98,725,000 after acquiring an additional 100,809 shares during the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Stock Performance

NASDAQ OLED opened at $203.42 on Tuesday. The business’s fifty day moving average is $199.79 and its 200 day moving average is $184.81. The company has a market capitalization of $9.65 billion, a PE ratio of 44.22, a price-to-earnings-growth ratio of 2.17 and a beta of 1.41. Universal Display has a fifty-two week low of $133.67 and a fifty-two week high of $237.00.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.04). Universal Display had a net margin of 35.74% and a return on equity of 15.25%. The company had revenue of $158.50 million for the quarter, compared to the consensus estimate of $159.46 million. During the same quarter last year, the firm posted $1.04 earnings per share. The company’s revenue was up 8.1% compared to the same quarter last year. On average, sell-side analysts forecast that Universal Display will post 4.81 EPS for the current year.

Universal Display Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.79%. Universal Display’s dividend payout ratio (DPR) is presently 34.78%.

About Universal Display

Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.