Universal Display (NASDAQ:OLED) Price Target Raised to $217.00 at Roth Mkm

Universal Display (NASDAQ:OLED) had its price target increased by Roth Mkm from $189.00 to $217.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Several other brokerages have also recently weighed in on OLED. TD Cowen lifted their price objective on Universal Display from $210.00 to $250.00 and gave the company a buy rating in a report on Friday. Susquehanna lifted their price objective on Universal Display from $170.00 to $175.00 and gave the company a neutral rating in a report on Friday. The Goldman Sachs Group lifted their price objective on Universal Display from $208.00 to $243.00 and gave the company a buy rating in a report on Thursday, July 18th. Oppenheimer lifted their price objective on Universal Display from $200.00 to $250.00 and gave the company an outperform rating in a report on Wednesday, July 3rd. Finally, Needham & Company LLC lifted their price objective on Universal Display from $198.00 to $242.00 and gave the company a buy rating in a report on Tuesday, July 2nd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $225.88.

Universal Display Stock Performance

NASDAQ:OLED traded down $40.39 during mid-day trading on Friday, hitting $172.28. 1,293,682 shares of the stock were exchanged, compared to its average volume of 426,508. The stock has a market capitalization of $8.17 billion, a price-to-earnings ratio of 37.45, a price-to-earnings-growth ratio of 2.29 and a beta of 1.42. The firm’s 50-day simple moving average is $207.25 and its 200 day simple moving average is $182.81. Universal Display has a fifty-two week low of $133.67 and a fifty-two week high of $237.00.

Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.04). The firm had revenue of $158.50 million for the quarter, compared to analyst estimates of $159.46 million. Universal Display had a return on equity of 15.48% and a net margin of 35.74%. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.04 earnings per share. On average, analysts predict that Universal Display will post 4.78 EPS for the current fiscal year.

Universal Display Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.93%. Universal Display’s dividend payout ratio (DPR) is presently 34.78%.

Insider Buying and Selling at Universal Display

In other news, SVP Mauro Premutico sold 8,202 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $176.82, for a total value of $1,450,277.64. Following the transaction, the senior vice president now directly owns 28,743 shares of the company’s stock, valued at approximately $5,082,337.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Julia J. Brown sold 10,358 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $175.00, for a total transaction of $1,812,650.00. Following the transaction, the executive vice president now directly owns 56,624 shares of the company’s stock, valued at approximately $9,909,200. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Mauro Premutico sold 8,202 shares of the company’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 value of $1,450,277.64. Following the transaction, the senior vice president now directly owns 28,743 shares in the company, valued at $5,082,337.26. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Peapack Gladstone Financial Corp raised its stake in Universal Display by 1.8% during the 4th quarter. Peapack Gladstone Financial Corp now owns 3,367 shares of the semiconductor company’s stock worth $643,000 after buying an additional 60 shares during the period. Red Spruce Capital LLC raised its stake in Universal Display by 0.7% during the 2nd quarter. Red Spruce Capital LLC now owns 11,146 shares of the semiconductor company’s stock worth $2,343,000 after buying an additional 76 shares during the period. 1492 Capital Management LLC raised its stake in Universal Display by 0.8% during the 4th quarter. 1492 Capital Management LLC now owns 9,543 shares of the semiconductor company’s stock worth $1,825,000 after buying an additional 79 shares during the period. CIBC Asset Management Inc raised its stake in Universal Display by 7.6% during the 2nd quarter. CIBC Asset Management Inc now owns 1,351 shares of the semiconductor company’s stock worth $284,000 after buying an additional 96 shares during the period. Finally, Spire Wealth Management raised its stake in Universal Display by 11.1% during the 1st quarter. Spire Wealth Management now owns 1,000 shares of the semiconductor company’s stock worth $168,000 after buying an additional 100 shares during the period. 78.19% of the stock is 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.