Brokerages Set Universal Display Corporation (NASDAQ:OLED) PT at $151.67

Shares of Universal Display Corporation (NASDAQ:OLED) have earned a consensus rating of “Hold” from the five brokerages that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $151.6667.

A number of equities analysts have recently commented on OLED shares. Wall Street Zen raised shares of Universal Display from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Needham & Company LLC lowered their target price on shares of Universal Display from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of Universal Display in a research report on Wednesday, December 24th. Citigroup cut their price target on shares of Universal Display from $150.00 to $130.00 and set a “neutral” rating for the company in a research note on Tuesday, January 27th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $180.00 price objective on shares of Universal Display in a report on Friday, February 20th.

Universal Display Trading Up 1.6%

OLED opened at $95.58 on Friday. The stock has a market cap of $4.50 billion, a PE ratio of 18.85, a P/E/G ratio of 7.39 and a beta of 1.65. Universal Display has a 1 year low of $93.03 and a 1 year high of $163.21. The stock’s 50 day simple moving average is $114.19 and its 200-day simple moving average is $125.78.

Universal Display (NASDAQ:OLED) last issued its earnings results on Thursday, February 19th. The semiconductor company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.28 by $0.11. The firm had revenue of $172.93 million during the quarter, compared to analysts’ expectations of $173.35 million. Universal Display had a return on equity of 14.07% and a net margin of 37.21%.Universal Display’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the business earned $1.22 earnings per share. Equities analysts forecast that Universal Display will post 4.71 earnings per share for the current fiscal year.

Universal Display Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $2.00 annualized dividend and a yield of 2.1%. This is a positive change from Universal Display’s previous quarterly dividend of $0.45. Universal Display’s payout ratio is presently 35.50%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Peregrine Investment Management Inc. raised its stake in shares of Universal Display by 24.7% in the third quarter. Peregrine Investment Management Inc. now owns 50,560 shares of the semiconductor company’s stock valued at $7,262,000 after acquiring an additional 10,000 shares during the last quarter. Truist Financial Corp grew its position in Universal Display by 54.7% during the 3rd quarter. Truist Financial Corp now owns 63,262 shares of the semiconductor company’s stock worth $9,086,000 after acquiring an additional 22,380 shares during the last quarter. Baker Avenue Asset Management LP bought a new stake in Universal Display during the 2nd quarter worth approximately $1,398,000. AI Squared Management Ltd acquired a new stake in Universal Display during the 3rd quarter valued at $5,515,000. Finally, Creative Planning raised its position in Universal Display by 12.7% in the 2nd quarter. Creative Planning now owns 19,847 shares of the semiconductor company’s stock valued at $3,066,000 after purchasing an additional 2,239 shares during the last quarter. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Universal Display Company Profile

Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.