TD Cowen Boosts Universal Display (NASDAQ:OLED) Price Target to $250.00

Universal Display (NASDAQ:OLED) had its price objective upped by TD Cowen from $210.00 to $250.00 in a report released on Friday, Marketbeat Ratings reports. The firm currently has a buy rating on the semiconductor company’s stock.

Other research analysts also recently issued reports about the stock. Oppenheimer raised their price objective on shares of Universal Display from $200.00 to $250.00 and gave the stock an outperform rating in a report on Wednesday, July 3rd. Needham & Company LLC raised their price target on Universal Display from $198.00 to $242.00 and gave the stock a buy rating in a report on Tuesday, July 2nd. Finally, The Goldman Sachs Group boosted their price objective on Universal Display from $208.00 to $243.00 and gave the company a buy rating in a research note on Thursday, July 18th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Universal Display has an average rating of Moderate Buy and an average price target of $225.88.

Universal Display Price Performance

Shares of NASDAQ OLED opened at $166.82 on Friday. The stock has a market capitalization of $7.91 billion, a PE ratio of 36.27, a P/E/G ratio of 1.86 and a beta of 1.42. Universal Display has a one year low of $133.67 and a one year high of $237.00. The business’s fifty day moving average price is $207.05 and its 200-day moving average price is $182.81.

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

Universal Display Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.40 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a yield of 0.96%. Universal Display’s dividend payout ratio is currently 34.78%.

Insider Buying and Selling at Universal Display

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 shares were sold at an average price of $175.00, for a total value of $1,812,650.00. Following the transaction, the executive vice president now directly owns 56,624 shares in the company, valued at $9,909,200. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SageView Advisory Group LLC purchased a new position in shares of Universal Display in the 1st quarter worth about $1,179,000. Vontobel Holding Ltd. lifted its position in Universal Display by 6.4% in the 4th quarter. Vontobel Holding Ltd. now owns 309,804 shares of the semiconductor company’s stock worth $59,253,000 after buying an additional 18,582 shares during the last quarter. Van ECK Associates Corp boosted its stake in Universal Display by 18.3% in the fourth quarter. Van ECK Associates Corp now owns 270,184 shares of the semiconductor company’s stock worth $51,676,000 after buying an additional 41,795 shares in the last quarter. Weiss Asset Management LP bought a new position in Universal Display during the fourth quarter valued at approximately $1,602,000. Finally, Montag A & Associates Inc. raised its stake in shares of Universal Display by 28.9% during the first quarter. Montag A & Associates Inc. now owns 11,848 shares of the semiconductor company’s stock worth $1,996,000 after acquiring an additional 2,655 shares in the last quarter. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

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.