Universal Display (NASDAQ:OLED) Price Target Cut to $130.00 by Analysts at Citigroup

Universal Display (NASDAQ:OLED) had its price target decreased by Citigroup from $150.00 to $130.00 in a report released on Tuesday morning,Benzinga reports. Citigroup currently has a neutral rating on the semiconductor company’s stock.

OLED has been the topic of a number of other research reports. Wall Street Zen raised shares of Universal Display from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Zacks Research cut shares of Universal Display from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Weiss Ratings restated a “hold (c-)” rating on shares of Universal Display in a research report on Wednesday, December 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $150.00 price objective on shares of Universal Display in a report on Monday, December 22nd. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $171.20.

Universal Display Price Performance

Shares of OLED opened at $117.64 on Tuesday. The company has a market capitalization of $5.59 billion, a P/E ratio of 25.35, a PEG ratio of 3.30 and a beta of 1.62. Universal Display has a one year low of $103.70 and a one year high of $164.29. The business’s 50 day simple moving average is $119.12 and its 200-day simple moving average is $133.88.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, November 6th. The semiconductor company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.27). The business had revenue of $139.61 million during the quarter, compared to the consensus estimate of $165.56 million. Universal Display had a net margin of 34.65% and a return on equity of 14.10%. The company’s revenue for the quarter was down 13.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.40 EPS. On average, sell-side analysts anticipate that Universal Display will post 4.71 EPS for the current fiscal year.

Universal Display Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th were paid a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, December 17th. This represents a $1.80 dividend on an annualized basis and a yield of 1.5%. Universal Display’s dividend payout ratio (DPR) is presently 38.79%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Universal Display during the second quarter worth $124,480,000. Vanguard Group Inc. boosted its holdings in Universal Display by 10.0% during the third quarter. Vanguard Group Inc. now owns 5,069,107 shares of the semiconductor company’s stock worth $728,076,000 after buying an additional 460,792 shares during the last quarter. Primecap Management Co. CA grew its position in shares of Universal Display by 20.7% during the 2nd quarter. Primecap Management Co. CA now owns 2,215,308 shares of the semiconductor company’s stock worth $342,176,000 after buying an additional 379,586 shares during the period. Deprince Race & Zollo Inc. bought a new stake in shares of Universal Display in the 3rd quarter valued at about $32,962,000. Finally, Rafferty Asset Management LLC raised its position in shares of Universal Display by 63.2% in the 2nd quarter. Rafferty Asset Management LLC now owns 574,161 shares of the semiconductor company’s stock valued at $88,685,000 after acquiring an additional 222,327 shares during the period. 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.