Universal Display Co. (NASDAQ:OLED) Short Interest Down 18.5% in February

Universal Display Co. (NASDAQ:OLED) was the target of a large decline in short interest in February. As of February 15th, there was short interest totalling 1,410,000 shares, a decline of 18.5% from the January 31st total of 1,730,000 shares. Based on an average daily volume of 702,700 shares, the short-interest ratio is presently 2.0 days. Approximately 3.2% of the company’s shares are short sold.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. The Goldman Sachs Group dropped their target price on Universal Display from $234.00 to $203.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Citigroup lowered their price target on Universal Display from $200.00 to $162.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. Needham & Company LLC decreased their target price on shares of Universal Display from $215.00 to $170.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Roth Mkm boosted their price target on shares of Universal Display from $207.00 to $213.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, Susquehanna lowered their price objective on shares of Universal Display from $165.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $190.43.

Universal Display Stock Down 1.7 %

Universal Display stock traded down $2.56 during mid-day trading on Thursday, hitting $150.21. The company’s stock had a trading volume of 180,907 shares, compared to its average volume of 734,923. The stock has a market capitalization of $7.13 billion, a P/E ratio of 32.33, a P/E/G ratio of 1.61 and a beta of 1.39. Universal Display has a twelve month low of $140.17 and a twelve month high of $237.00. The stock’s fifty day moving average price is $148.55 and its two-hundred day moving average price is $172.73.

Universal Display (NASDAQ:OLED) last issued its earnings results on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.14. The business had revenue of $162.29 million for the quarter, compared to analysts’ expectations of $152.75 million. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. Equities analysts expect that Universal Display will post 4.71 earnings per share for the current year.

Universal Display Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Monday, March 17th. This is an increase from Universal Display’s previous quarterly dividend of $0.40. Universal Display’s dividend payout ratio is 38.71%.

Institutional Trading of Universal Display

A number of hedge funds have recently modified their holdings of OLED. Norges Bank purchased a new stake in shares of Universal Display in the fourth quarter worth approximately $95,924,000. Raymond James Financial Inc. bought a new position in Universal Display during the fourth quarter valued at approximately $41,504,000. Point72 Asset Management L.P. acquired a new stake in Universal Display in the fourth quarter valued at approximately $38,981,000. Jennison Associates LLC grew its position in Universal Display by 58.2% in the fourth quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company’s stock worth $99,975,000 after acquiring an additional 251,557 shares in the last quarter. Finally, Citigroup Inc. increased its position in Universal Display by 1,387.6% during the third quarter. Citigroup Inc. now owns 261,723 shares of the semiconductor company’s stock worth $54,936,000 after buying an additional 244,129 shares during the last quarter. Hedge funds and other institutional investors 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.