Universal Display (NASDAQ:OLED) Price Target Increased to $250.00 by Analysts at Oppenheimer

Universal Display (NASDAQ:OLED) had its price objective lifted by Oppenheimer from $200.00 to $250.00 in a report released on Wednesday morning, Benzinga reports. They currently have an outperform rating on the semiconductor company’s stock.

Separately, Needham & Company LLC raised their price objective on Universal Display from $198.00 to $242.00 and gave the stock a buy rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $213.29.

Universal Display Trading Up 2.1 %

Shares of NASDAQ:OLED opened at $217.98 on Wednesday. Universal Display has a 12-month low of $133.67 and a 12-month high of $219.31. The stock’s 50-day moving average price is $184.65 and its two-hundred day moving average price is $177.22. The firm has a market cap of $10.34 billion, a price-to-earnings ratio of 47.39, a PEG ratio of 2.28 and a beta of 1.42.

Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, May 2nd. The semiconductor company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.14. The firm had revenue of $165.26 million during the quarter, compared to the consensus estimate of $150.75 million. Universal Display had a net margin of 36.00% and a return on equity of 15.57%. Universal Display’s revenue was up 26.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.83 earnings per share. As a group, research analysts forecast that Universal Display will post 4.75 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.40 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.73%. Universal Display’s dividend payout ratio (DPR) is currently 34.78%.

Insider Activity at Universal Display

In other Universal Display news, EVP Julia J. Brown sold 10,358 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $175.00, for a total value of $1,812,650.00. Following the completion of the transaction, the executive vice president now owns 56,624 shares in the company, valued at approximately $9,909,200. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP Mauro Premutico sold 8,202 shares of Universal Display stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $176.82, for a total transaction of $1,450,277.64. Following the sale, the senior vice president now directly owns 28,743 shares of the company’s stock, valued at $5,082,337.26. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Julia J. Brown sold 10,358 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $175.00, for a total value of $1,812,650.00. Following the completion of the transaction, the executive vice president now directly owns 56,624 shares of the company’s stock, valued at approximately $9,909,200. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Universal Display

A number of institutional investors have recently made changes to their positions in the business. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Universal Display in the fourth quarter worth $25,000. ORG Partners LLC acquired a new stake in shares of Universal Display in the 1st quarter valued at about $27,000. Principal Securities Inc. bought a new position in shares of Universal Display during the fourth quarter worth about $34,000. University of Texas Texas AM Investment Managment Co. acquired a new position in Universal Display in the fourth quarter worth about $35,000. Finally, Cape Investment Advisory Inc. increased its holdings in Universal Display by 1,977.8% in the fourth quarter. Cape Investment Advisory Inc. now owns 187 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 178 shares during the last quarter. 78.19% of the stock is owned by institutional investors and hedge funds.

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.