Universal Display (NASDAQ:OLED) Sets New 1-Year High on Analyst Upgrade

Universal Display Co. (NASDAQ:OLED) shares hit a new 52-week high during mid-day trading on Tuesday after Oppenheimer raised their price target on the stock from $200.00 to $250.00. Oppenheimer currently has an outperform rating on the stock. Universal Display traded as high as $212.79 and last traded at $212.00, with a volume of 24703 shares traded. The stock had previously closed at $208.61.

Separately, Needham & Company LLC raised their price objective on shares of Universal Display from $198.00 to $242.00 and gave the company a “buy” rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $213.29.

Insiders Place Their Bets

In other news, EVP Julia J. Brown sold 10,358 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $175.00, for a total transaction of $1,812,650.00. Following the completion of the sale, the executive vice president now directly owns 56,624 shares in the company, valued at $9,909,200. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, SVP Mauro Premutico sold 8,202 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 28,743 shares in the company, valued at $5,082,337.26. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Julia J. Brown sold 10,358 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $175.00, for a total transaction of $1,812,650.00. Following the sale, the executive vice president now owns 56,624 shares of the company’s stock, valued at approximately $9,909,200. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Vontobel Holding Ltd. boosted its stake in Universal Display by 6.4% during the 4th quarter. Vontobel Holding Ltd. now owns 309,804 shares of the semiconductor company’s stock valued at $59,253,000 after purchasing an additional 18,582 shares during the last quarter. Van ECK Associates Corp raised its position in Universal Display by 18.3% in the 4th quarter. Van ECK Associates Corp now owns 270,184 shares of the semiconductor company’s stock valued at $51,676,000 after buying an additional 41,795 shares during the last quarter. FengHe Fund Management Pte. Ltd. purchased a new position in Universal Display during the 4th quarter worth $5,451,000. Weiss Asset Management LP bought a new stake in shares of Universal Display in the 4th quarter worth $1,602,000. Finally, Linden Thomas Advisory Services LLC raised its holdings in shares of Universal Display by 3.3% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 14,848 shares of the semiconductor company’s stock valued at $2,840,000 after purchasing an additional 469 shares during the last quarter. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Universal Display Price Performance

The company has a market cap of $10.34 billion, a PE ratio of 47.39, a P/E/G ratio of 2.28 and a beta of 1.42. The company’s fifty day moving average price is $184.65 and its 200 day moving average price is $177.22.

Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, May 2nd. The semiconductor company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.05 by $0.14. The firm had revenue of $165.26 million for the quarter, compared to analysts’ expectations of $150.75 million. Universal Display had a net margin of 36.00% and a return on equity of 15.57%. The company’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.83 EPS. On average, analysts forecast that Universal Display Co. will post 4.75 EPS for the current year.

Universal Display Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Friday, June 14th. Universal Display’s dividend payout ratio is presently 34.78%.

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.