Universal Display (NASDAQ:OLED) Price Target Cut to $200.00 by Analysts at Oppenheimer

Universal Display (NASDAQ:OLED) had its price target cut by Oppenheimer from $220.00 to $200.00 in a report released on Thursday, MarketBeat Ratings reports. They currently have an outperform rating on the semiconductor company’s stock.

Other equities analysts have also issued reports about the company. Needham & Company LLC reduced their price objective on Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. TD Cowen reduced their price target on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $207.86.

Universal Display Price Performance

Shares of NASDAQ:OLED opened at $149.63 on Thursday. The business has a 50 day simple moving average of $166.07 and a two-hundred day simple moving average of $190.73. The firm has a market capitalization of $7.10 billion, a PE ratio of 30.05, a price-to-earnings-growth ratio of 1.74 and a beta of 1.40. Universal Display has a 1 year low of $145.26 and a 1 year high of $237.00.

Universal Display (NASDAQ:OLED) last issued its earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.21. The company had revenue of $161.63 million for the quarter, compared to analysts’ expectations of $165.28 million. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. The firm’s quarterly revenue was up 14.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.08 EPS. Equities research analysts expect that Universal Display will post 4.8 EPS for the current fiscal year.

Universal Display Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Tuesday, December 17th. Universal Display’s dividend payout ratio is currently 32.13%.

Insider Transactions at Universal Display

In other news, Director Lawrence Lacerte bought 742 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was acquired at an average price of $180.89 per share, with a total value of $134,220.38. Following the completion of the purchase, the director now directly owns 122,372 shares of the company’s stock, valued at $22,135,871.08. This represents a 0.61 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Natixis Advisors LLC boosted its stake in Universal Display by 1.4% in the 2nd quarter. Natixis Advisors LLC now owns 12,021 shares of the semiconductor company’s stock worth $2,527,000 after purchasing an additional 168 shares during the period. CIBC Asset Management Inc raised its position in Universal Display by 7.6% during the second quarter. CIBC Asset Management Inc now owns 1,351 shares of the semiconductor company’s stock valued at $284,000 after buying an additional 96 shares during the period. TIAA Trust National Association purchased a new stake in Universal Display in the 2nd quarter worth about $218,000. SouthState Corp acquired a new stake in Universal Display during the 2nd quarter worth about $48,000. Finally, Arizona State Retirement System grew its stake in Universal Display by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 12,597 shares of the semiconductor company’s stock valued at $2,649,000 after acquiring an additional 233 shares in the last quarter. Institutional investors own 78.19% of the company’s stock.

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.