Shares of Universal Display Co. (NASDAQ:OLED) have received a consensus rating of “Buy” from the eleven analysts that are presently covering the firm. Five analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $108.00.
Several equities analysts recently issued reports on OLED shares. Cowen and Company decreased their price target on Universal Display from $105.00 to $90.00 and set an “outperform” rating on the stock in a report on Wednesday, May 3rd. Zacks Investment Research cut Universal Display from a “buy” rating to a “hold” rating in a report on Tuesday, March 21st. Susquehanna Bancshares Inc reiterated a “positive” rating and issued a $105.00 price target on shares of Universal Display in a report on Thursday, April 6th. Goldman Sachs Group Inc reiterated a “buy” rating and issued a $88.00 price target on shares of Universal Display in a report on Thursday, March 30th. Finally, Canaccord Genuity raised their price target on Universal Display from $49.00 to $65.00 and gave the company a “hold” rating in a report on Friday, February 24th.
In other Universal Display news, insider Julia J. Brown sold 47,192 shares of the firm’s stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $74.00, for a total transaction of $3,492,208.00. Following the transaction, the insider now owns 217,848 shares in the company, valued at $16,120,752. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Sidney D. Rosenblatt sold 16,924 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $112.82, for a total value of $1,909,365.68. Following the transaction, the chief financial officer now owns 378,870 shares in the company, valued at approximately $42,744,113.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,720 shares of company stock worth $11,109,397. Company insiders own 5.70% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. Norges Bank bought a new position in shares of Universal Display during the fourth quarter worth about $36,968,000. Columbus Circle Investors boosted its position in shares of Universal Display by 41.5% in the first quarter. Columbus Circle Investors now owns 884,208 shares of the semiconductor company’s stock worth $76,130,000 after buying an additional 259,267 shares during the period. Newbrook Capital Advisors LP bought a new position in shares of Universal Display during the fourth quarter worth about $14,349,000. FMR LLC boosted its position in shares of Universal Display by 193.6% in the first quarter. FMR LLC now owns 325,005 shares of the semiconductor company’s stock worth $27,983,000 after buying an additional 214,324 shares during the period. Finally, ARS Investment Partners LLC bought a new position in shares of Universal Display during the first quarter worth about $17,603,000. Hedge funds and other institutional investors own 67.82% of the company’s stock.
Universal Display (NASDAQ:OLED) traded down 0.5703% during trading on Friday, hitting $112.9521. 138,703 shares of the stock traded hands. The company has a 50-day moving average price of $88.70 and a 200 day moving average price of $69.99. Universal Display has a one year low of $47.88 and a one year high of $116.85. The stock has a market cap of $5.31 billion, a PE ratio of 94.2053 and a beta of 1.27.
Universal Display (NASDAQ:OLED) last announced its earnings results on Thursday, May 4th. The semiconductor company reported $0.22 earnings per share for the quarter. Universal Display had a return on equity of 8.37% and a net margin of 21.61%. The company had revenue of $55.60 million during the quarter, compared to analyst estimates of $33.53 million. During the same period last year, the company posted $0.04 earnings per share. The firm’s quarterly revenue was up 87.2% compared to the same quarter last year. Analysts expect that Universal Display will post $1.70 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date is Tuesday, June 13th.
About Universal Display
Universal Display Corporation is engaged in the research, development and commercialization of organic light emitting diode (OLED), technologies and materials for use in display and solid-state lighting applications. The Company also supplies its OLED materials to manufacturers of OLED displays and lighting products for evaluation and for use in product development and for pre-commercial activities, and it also provides technical assistance and support to these manufacturers.