Universal Display Co. (NASDAQ:OLED) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Universal Display Co. (NASDAQ:OLED) have earned an average rating of “Moderate Buy” from the seven ratings firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $190.43.

OLED has been the subject of a number of research reports. Needham & Company LLC decreased their price objective on shares of Universal Display from $215.00 to $170.00 and set a “buy” rating for the company in a report on Friday, February 21st. Susquehanna lowered their price objective on shares of Universal Display from $165.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. StockNews.com upgraded shares of Universal Display from a “sell” rating to a “hold” rating in a research note on Friday, March 21st. Oppenheimer decreased their target price on Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, January 2nd. Finally, The Goldman Sachs Group dropped their price target on Universal Display from $234.00 to $203.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th.

Universal Display Stock Performance

OLED opened at $138.90 on Friday. The company has a market capitalization of $6.59 billion, a P/E ratio of 29.87, a PEG ratio of 1.61 and a beta of 1.40. The company has a 50-day moving average of $148.87 and a 200-day moving average of $166.68. Universal Display has a 1-year low of $132.01 and a 1-year high of $237.00.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.14. The firm had revenue of $162.29 million for the quarter, compared to analysts’ expectations of $152.75 million. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. As a group, sell-side analysts expect that Universal Display will post 4.71 earnings per share for the current fiscal year.

Universal Display Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.45 per share. The ex-dividend date was Monday, March 17th. This is an increase from Universal Display’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 1.30%. Universal Display’s payout ratio is currently 38.71%.

Institutional Trading of Universal Display

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Universal Display by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 4,784,099 shares of the semiconductor company’s stock valued at $699,435,000 after purchasing an additional 67,590 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its position in Universal Display by 2.8% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,536,513 shares of the semiconductor company’s stock valued at $370,838,000 after buying an additional 69,043 shares in the last quarter. Geode Capital Management LLC increased its stake in Universal Display by 12.8% during the 4th quarter. Geode Capital Management LLC now owns 901,315 shares of the semiconductor company’s stock valued at $131,806,000 after buying an additional 101,963 shares during the period. Jennison Associates LLC raised its position in shares of Universal Display by 58.2% during the 4th quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company’s stock worth $99,975,000 after buying an additional 251,557 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Universal Display in the 4th quarter worth approximately $95,924,000. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Universal Display Company Profile

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.