Universal Display (NASDAQ:OLED) Reaches New 1-Year High at $220.38

Universal Display Co. (NASDAQ:OLEDGet Free Report)’s share price hit a new 52-week high on Monday . The company traded as high as $220.38 and last traded at $220.01, with a volume of 10494 shares changing hands. The stock had previously closed at $218.32.

Analyst Ratings Changes

OLED has been the subject of a number of research reports. Oppenheimer raised their price target on shares of Universal Display from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, July 3rd. Needham & Company LLC raised their price target on shares of Universal Display from $198.00 to $242.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $213.29.

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Universal Display Trading Up 1.1 %

The firm has a market cap of $10.47 billion, a price-to-earnings ratio of 47.46, a price-to-earnings-growth ratio of 2.36 and a beta of 1.42. The stock’s 50 day moving average is $187.08 and its 200 day moving average is $177.52.

Universal Display (NASDAQ:OLEDGet Free Report) last posted its quarterly earnings data 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%. The business’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.83 EPS. On average, equities research analysts predict that Universal Display Co. will post 4.75 EPS for the current year.

Universal Display Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend was Friday, June 14th. Universal Display’s dividend payout ratio (DPR) is presently 34.78%.

Insider Activity at Universal Display

In related news, EVP Julia J. Brown sold 10,358 shares of the stock in a transaction that occurred on 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 owns 56,624 shares of the company’s stock, valued at approximately $9,909,200. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 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 in the company, valued at approximately $9,909,200. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Mauro Premutico sold 8,202 shares of the stock in a transaction on 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 owns 28,743 shares of the company’s stock, valued at $5,082,337.26. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in OLED. Norges Bank bought a new stake in Universal Display in the fourth quarter worth about $101,088,000. Janus Henderson Group PLC raised its position in Universal Display by 66.6% in the first quarter. Janus Henderson Group PLC now owns 434,029 shares of the semiconductor company’s stock worth $73,099,000 after acquiring an additional 173,496 shares during the period. AEGON ASSET MANAGEMENT UK Plc bought a new stake in Universal Display in the fourth quarter worth about $29,797,000. TimesSquare Capital Management LLC raised its position in Universal Display by 327.5% in the fourth quarter. TimesSquare Capital Management LLC now owns 198,899 shares of the semiconductor company’s stock worth $38,041,000 after acquiring an additional 152,374 shares during the period. Finally, Van ECK Associates Corp raised its position in Universal Display by 33.5% in the first quarter. Van ECK Associates Corp now owns 360,714 shares of the semiconductor company’s stock worth $60,762,000 after acquiring an additional 90,530 shares during the period. 78.19% of the stock is currently owned by institutional investors and hedge funds.

About Universal Display

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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.

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