Brokerages Set Universal Display Co. (NASDAQ:OLED) Price Target at $199.86

Shares of Universal Display Co. (NASDAQ:OLED) have been assigned an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $199.86.

A number of analysts recently weighed in on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $200.00 price objective (down previously from $210.00) on shares of Universal Display in a report on Friday, February 23rd. TD Cowen increased their price objective on shares of Universal Display from $165.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $198.00 price objective on shares of Universal Display in a report on Tuesday, March 26th. Finally, Citigroup reissued a “neutral” rating and set a $180.00 target price (up previously from $161.00) on shares of Universal Display in a research note on Friday, January 19th.

Universal Display Stock Performance

Universal Display stock opened at $149.81 on Friday. The firm’s 50-day moving average is $168.17 and its 200-day moving average is $169.13. Universal Display has a 1 year low of $125.98 and a 1 year high of $194.84. The company has a market cap of $7.10 billion, a P/E ratio of 35.33, a PEG ratio of 1.67 and a beta of 1.45.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Thursday, February 22nd. The semiconductor company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.11. Universal Display had a net margin of 35.22% and a return on equity of 14.85%. The business had revenue of $158.32 million for the quarter, compared to analysts’ expectations of $161.08 million. During the same quarter last year, the company earned $1.36 EPS. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, sell-side analysts predict that Universal Display will post 4.72 earnings per share for the current year.

Universal Display Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.40 per share. This is a boost from Universal Display’s previous quarterly dividend of $0.35. The ex-dividend date was Thursday, March 14th. This represents a $1.60 annualized dividend and a yield of 1.07%. Universal Display’s dividend payout ratio (DPR) is presently 37.74%.

Hedge Funds Weigh In On Universal Display

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Universal Display by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 4,511,145 shares of the semiconductor company’s stock worth $708,205,000 after purchasing an additional 23,944 shares during the last quarter. BlackRock Inc. grew its stake in shares of Universal Display by 2.8% in the 1st quarter. BlackRock Inc. now owns 4,309,400 shares of the semiconductor company’s stock worth $719,455,000 after purchasing an additional 117,055 shares during the last quarter. State Street Corp grew its stake in shares of Universal Display by 1.2% in the 2nd quarter. State Street Corp now owns 1,521,726 shares of the semiconductor company’s stock worth $219,326,000 after purchasing an additional 18,071 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Universal Display by 7.1% in the 2nd quarter. Alliancebernstein L.P. now owns 1,435,162 shares of the semiconductor company’s stock worth $206,850,000 after purchasing an additional 94,570 shares during the last quarter. Finally, FMR LLC grew its stake in shares of Universal Display by 10.6% in the 3rd quarter. FMR LLC now owns 1,398,961 shares of the semiconductor company’s stock worth $219,623,000 after purchasing an additional 134,000 shares during the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

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.