Universal Display (NASDAQ:OLED) Given New $135.00 Price Target at Citigroup

Universal Display (NASDAQ:OLEDGet Rating) had its target price cut by Citigroup from $150.00 to $135.00 in a research report sent to investors on Monday, The Fly reports. They currently have a buy rating on the semiconductor company’s stock.

Several other research firms have also recently issued reports on OLED. Cowen lowered their price objective on Universal Display from $175.00 to $145.00 in a research report on Friday, August 5th. Needham & Company LLC lowered their price objective on Universal Display from $140.00 to $128.00 and set a buy rating for the company in a research report on Friday, November 4th. The Goldman Sachs Group lowered their price objective on Universal Display from $185.00 to $158.00 and set a buy rating for the company in a research report on Friday, November 4th. Cowen reduced their target price on Universal Display from $145.00 to $130.00 in a report on Friday, November 4th. Finally, StockNews.com began coverage on Universal Display in a report on Wednesday, October 12th. They issued a hold rating for the company. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $139.56.

Universal Display Stock Performance

NASDAQ:OLED opened at $110.74 on Monday. The stock has a 50-day simple moving average of $100.60 and a 200-day simple moving average of $110.03. The stock has a market cap of $5.23 billion, a P/E ratio of 27.69, a P/E/G ratio of 1.58 and a beta of 1.41. Universal Display has a 1 year low of $89.41 and a 1 year high of $178.75.

Universal Display Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Friday, December 16th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend is Thursday, December 15th. Universal Display’s dividend payout ratio is presently 30.00%.

Institutional Trading of Universal Display

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sigma Planning Corp raised its stake in Universal Display by 9.1% during the 2nd quarter. Sigma Planning Corp now owns 8,185 shares of the semiconductor company’s stock valued at $828,000 after acquiring an additional 686 shares during the last quarter. Banco Santander S.A. purchased a new stake in Universal Display during the 2nd quarter valued at approximately $491,000. Trexquant Investment LP raised its stake in Universal Display by 716.2% during the 2nd quarter. Trexquant Investment LP now owns 13,476 shares of the semiconductor company’s stock valued at $1,363,000 after acquiring an additional 11,825 shares during the last quarter. Comerica Bank raised its stake in Universal Display by 0.8% during the 2nd quarter. Comerica Bank now owns 21,363 shares of the semiconductor company’s stock valued at $2,423,000 after acquiring an additional 167 shares during the last quarter. Finally, Quent Capital LLC acquired a new position in Universal Display during the 1st quarter worth approximately $167,000. 71.77% of the stock is owned by hedge funds and other institutional investors.

Universal Display Company Profile

(Get Rating)

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. It owns, exclusively licenses, or has sole rights to sublicense approximately 5,500 issued and pending patents worldwide.

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Analyst Recommendations for Universal Display (NASDAQ:OLED)

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