In a recent research report released by Needham & Company LLC, the firm reaffirmed its buy rating on the shares of Universal Display (NASDAQ:OLED). Needham & Company LLC also set a price target of $175.00 for the semiconductor company’s stock.
Several other equities research analysts have also weighed in on Universal Display. StockNews.com issued a hold rating on the stock. Citigroup raised the price target on Universal Display from $150.00 to $182.00 and gave it a buy rating. TD Cowen raised their target price from $150.00 to $185.00 and gave the company an outperform rating. The Goldman Sachs Group upped their price target on shares of Universal Display from $168.00 to $185.00. Bank of America raised their price objective from $145.00 to $165.00 and gave the company a neutral rating. Three analysts have rated the stock as hold, while six have issued a buy rating to the company. Universal Display currently has an average rating of Moderate Buy and an average target price of $167.22.
Universal Display is a semiconductor company that 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. The company offers PHOLED technologies and materials for displays and lighting products.
Universal Display’s stock opened at $157.89 on Wednesday, with a twelve-month low of $89.41 and a twelve-month high of $166.57. The stock has a 50-day moving average of $151.93 and a two-hundred day moving average of $146.34. The stock has a market capitalization of $7.48 billion, a price-to-earnings ratio of 36.30, a PEG ratio of 2.70, and a beta of 1.29. The company reported $1.04 earnings per share for the last quarter, beating analysts’ consensus estimates of $0.75 by $0.29. Universal Display had a return on equity of 16.24% and a net margin of 34.31%. The company had revenue of $146.57 million during the quarter, compared to analysts’ expectations of $128.60 million. Equities analysts predict that Universal Display will post 3.96 earnings per share for the current year.
Additionally, Universal Display recently declared a quarterly dividend of $0.35 per share, which will be paid on Friday, September 29th. The ex-dividend date is Thursday, September 14th. The annualized dividend is $1.40 and the dividend yield is 0.89%. The dividend payout ratio is currently 32.18%.
In terms of insider transactions, Director Richard C. Elias recently sold 2,000 shares of the stock at an average price of $157.68. SVP Mauro Premutico sold 9,351 shares at an average price of $161.17.
On the institutional side, several hedge funds and other institutional investors have recently modified their holdings of Universal Display. BlackRock Inc., Vanguard Group Inc., State Street Corp, Alliancebernstein L.P., and Macquarie Group Ltd. are among the top institutional holders of the stock.
It seems that Universal Display has received positive sentiment from equities research analysts, with a reaffirmed buy rating and a target price of $175.00. With strong quarterly earnings, a solid dividend payout, and support from institutional investors, Universal Display looks to have a bright future ahead.
– OLED: Organic light emitting diode.
– PHOLED: Phosphorescent organic light emitting diode.
– Benzinga (source of the main points)
– MarketBeat.com (source of average rating and target price)