Oppenheimer Lowers Universal Display (NASDAQ:OLED) Price Target to $200.00

Universal Display (NASDAQ:OLED) had its price objective decreased by Oppenheimer from $220.00 to $200.00 in a research note issued to investors on Thursday, Marketbeat reports. Oppenheimer currently has an outperform rating on the semiconductor company’s stock.

Several other brokerages also recently commented on OLED. Needham & Company LLC reduced their target price on Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. TD Cowen reduced their price objective on Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Universal Display presently has an average rating of “Moderate Buy” and an average target price of $207.86.

Universal Display Price Performance

Universal Display stock opened at $149.63 on Thursday. Universal Display has a 52-week low of $145.26 and a 52-week high of $237.00. The stock has a fifty day moving average price of $166.07 and a two-hundred day moving average price of $190.73. The firm has a market capitalization of $7.10 billion, a P/E ratio of 30.05, a P/E/G ratio of 1.74 and a beta of 1.40.

Universal Display (NASDAQ:OLED) last announced its earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.21. The business had revenue of $161.63 million during the quarter, compared to analysts’ expectations of $165.28 million. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter last year, the company posted $1.08 EPS. On average, equities research analysts predict that Universal Display will post 4.8 EPS for the current fiscal year.

Universal Display Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were given a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $1.60 dividend on an annualized basis and a yield of 1.07%. Universal Display’s payout ratio is 32.13%.

Insider Activity at Universal Display

In related news, Director Lawrence Lacerte purchased 742 shares of Universal Display stock in a transaction dated Monday, November 4th. The shares were acquired at an average cost of $180.89 per share, for a total transaction of $134,220.38. Following the transaction, the director now directly owns 122,372 shares of the company’s stock, valued at approximately $22,135,871.08. This trade represents a 0.61 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of OLED. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Universal Display in the second quarter valued at approximately $127,668,000. Citigroup Inc. boosted its holdings in shares of Universal Display by 1,387.6% during the 3rd 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 period. Raymond James & Associates boosted its holdings in shares of Universal Display by 629.9% during the third quarter. Raymond James & Associates now owns 269,414 shares of the semiconductor company’s stock worth $56,550,000 after acquiring an additional 232,503 shares during the period. Barclays PLC grew its holdings in Universal Display by 753.8% in the 3rd quarter. Barclays PLC now owns 212,518 shares of the semiconductor company’s stock valued at $44,608,000 after buying an additional 187,627 shares in the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of Universal Display in the second quarter valued at about $34,558,000. 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.