Universal Display Corporation (NASDAQ:OLED) Receives $130.60 Average Price Target from Brokerages

Universal Display Corporation (NASDAQ:OLED) has received an average recommendation of “Hold” from the six brokerages that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $130.60.

OLED has been the topic of a number of research reports. The Goldman Sachs Group set a $135.00 price target on Universal Display in a research note on Tuesday, April 21st. Needham & Company LLC reduced their price objective on Universal Display from $145.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Roth Capital set a $168.00 price objective on Universal Display in a research note on Friday, May 1st. Zacks Research downgraded Universal Display from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Universal Display in a research report on Thursday, June 18th.

Universal Display Price Performance

NASDAQ:OLED opened at $80.18 on Friday. Universal Display has a twelve month low of $77.15 and a twelve month high of $154.07. The company has a fifty day moving average of $87.52 and a 200-day moving average of $99.86. The firm has a market capitalization of $3.75 billion, a P/E ratio of 17.90 and a beta of 1.54.

Universal Display (NASDAQ:OLED) last issued its earnings results on Thursday, April 30th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.37). The company had revenue of $142.21 million for the quarter, compared to the consensus estimate of $161.23 million. Universal Display had a return on equity of 12.34% and a net margin of 34.08%.The firm’s revenue was down 14.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.35 earnings per share. On average, analysts anticipate that Universal Display will post 4.23 EPS for the current fiscal year.

Universal Display Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Tuesday, June 16th. Universal Display’s payout ratio is 44.64%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of OLED. JPMorgan Chase & Co. increased its position in shares of Universal Display by 3.1% in the third quarter. JPMorgan Chase & Co. now owns 472,363 shares of the semiconductor company’s stock worth $67,846,000 after purchasing an additional 14,356 shares during the last quarter. Systematic Financial Management LP lifted its position in Universal Display by 40.2% during the fourth quarter. Systematic Financial Management LP now owns 196,515 shares of the semiconductor company’s stock valued at $22,949,000 after purchasing an additional 56,320 shares during the last quarter. Polar Asset Management Partners Inc. lifted its position in Universal Display by 21.4% during the third quarter. Polar Asset Management Partners Inc. now owns 186,792 shares of the semiconductor company’s stock valued at $26,829,000 after purchasing an additional 32,955 shares during the last quarter. UBS Group AG grew its stake in Universal Display by 100.8% in the 4th quarter. UBS Group AG now owns 646,787 shares of the semiconductor company’s stock worth $75,532,000 after buying an additional 324,677 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. purchased a new position in Universal Display in the 4th quarter worth approximately $1,962,000. Institutional investors and hedge funds own 78.19% of the company’s stock.

About Universal Display

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.