Universal Display Co. (NASDAQ:OLED) Given Average Rating of “Moderate Buy” by Brokerages

Universal Display Co. (NASDAQ:OLED) has earned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $199.86.

A number of equities research analysts recently weighed in on OLED shares. Oppenheimer reaffirmed an “outperform” rating and set a $200.00 price objective (down previously from $210.00) on shares of Universal Display in a research report on Friday, February 23rd. Citigroup reaffirmed a “neutral” rating and set a $180.00 target price (up from $161.00) on shares of Universal Display in a report on Friday, January 19th. TD Cowen raised their price target on Universal Display from $165.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $198.00 target price on shares of Universal Display in a research report on Friday, May 3rd.

Universal Display Stock Performance

Shares of OLED stock opened at $175.18 on Wednesday. The stock has a market capitalization of $8.31 billion, a price-to-earnings ratio of 38.08, a PEG ratio of 1.85 and a beta of 1.44. Universal Display has a one year low of $133.67 and a one year high of $194.84. The company’s 50-day simple moving average is $163.46 and its 200-day simple moving average is $169.36.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.14. Universal Display had a return on equity of 15.57% and a net margin of 36.00%. The business had revenue of $165.26 million for the quarter, compared to analyst estimates of $150.75 million. During the same period in the prior year, the company posted $0.83 EPS. The business’s revenue was up 26.7% compared to the same quarter last year. As a group, research analysts forecast that Universal Display will post 4.74 EPS for the current year.

Universal Display Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.91%. The ex-dividend date is Friday, June 14th. Universal Display’s payout ratio is currently 34.78%.

Institutional Investors Weigh In On Universal Display

Hedge funds and other institutional investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC grew its position in Universal Display by 7.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 15,697 shares of the semiconductor company’s stock valued at $2,464,000 after buying an additional 1,107 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Universal Display by 2.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 8,190 shares of the semiconductor company’s stock worth $1,286,000 after acquiring an additional 162 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Universal Display by 1.3% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 21,316 shares of the semiconductor company’s stock valued at $3,346,000 after acquiring an additional 282 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new position in shares of Universal Display during the third quarter valued at approximately $340,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Universal Display by 56.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,193 shares of the semiconductor company’s stock worth $1,914,000 after purchasing an additional 4,383 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors.

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.