Universal Display Co. (NASDAQ:OLED) Receives Consensus Recommendation of “Buy” from Brokerages

Universal Display Co. (NASDAQ:OLED) has been given an average recommendation of “Buy” by the fourteen research firms that are currently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $161.32.

OLED has been the subject of a number of recent research reports. Zacks Investment Research upgraded Universal Display from a “hold” rating to a “buy” rating and set a $174.00 price objective for the company in a research note on Tuesday, March 26th. Roth Capital set a $194.00 price objective on Universal Display and gave the company a “buy” rating in a research note on Friday, May 3rd. Needham & Company LLC reiterated a “buy” rating and set a $200.00 price objective (up from $140.00) on shares of Universal Display in a research note on Friday, May 3rd. Citigroup downgraded Universal Display from a “buy” rating to a “neutral” rating and set a $167.89 price objective for the company. in a research note on Friday, May 10th. Finally, Susquehanna Bancshares reiterated a “neutral” rating and set a $180.00 price objective on shares of Universal Display in a research note on Monday, April 29th.

Shares of NASDAQ:OLED opened at $188.06 on Friday. The company’s 50 day moving average is $165.22. The company has a market cap of $8.62 billion, a P/E ratio of 151.66, a PEG ratio of 2.49 and a beta of 1.44. Universal Display has a 12-month low of $78.78 and a 12-month high of $192.49.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.40. The company had revenue of $87.80 million during the quarter, compared to the consensus estimate of $64.59 million. Universal Display had a return on equity of 12.35% and a net margin of 28.93%. The firm’s revenue was up 101.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.13 EPS. As a group, sell-side analysts expect that Universal Display will post 2.44 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.40 annualized dividend and a yield of 0.21%. Universal Display’s payout ratio is 32.26%.

In other Universal Display news, CFO Sidney D. Rosenblatt sold 33,930 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $182.23, for a total value of $6,183,063.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven V. Abramson sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $179.64, for a total value of $5,389,200.00. The disclosure for this sale can be found here. Insiders sold a total of 110,750 shares of company stock valued at $19,581,068 over the last 90 days. 3.70% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. Rockefeller Capital Management L.P. boosted its stake in Universal Display by 2.7% in the 1st quarter. Rockefeller Capital Management L.P. now owns 3,224 shares of the semiconductor company’s stock worth $493,000 after purchasing an additional 86 shares during the period. ETF Managers Group LLC boosted its stake in Universal Display by 8.5% in the 1st quarter. ETF Managers Group LLC now owns 1,419 shares of the semiconductor company’s stock worth $217,000 after purchasing an additional 111 shares during the period. Bank of Montreal Can raised its holdings in shares of Universal Display by 3.1% during the 1st quarter. Bank of Montreal Can now owns 5,870 shares of the semiconductor company’s stock worth $897,000 after acquiring an additional 178 shares in the last quarter. Retirement Systems of Alabama raised its holdings in shares of Universal Display by 0.4% during the 1st quarter. Retirement Systems of Alabama now owns 55,191 shares of the semiconductor company’s stock worth $8,436,000 after acquiring an additional 199 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in shares of Universal Display by 1.8% during the 1st quarter. Louisiana State Employees Retirement System now owns 11,400 shares of the semiconductor company’s stock worth $1,742,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 75.96% 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 flat panel displays and solid-state lighting applications. As of February 21, 2019, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 5,000 issued and pending patents worldwide.

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Analyst Recommendations for Universal Display (NASDAQ:OLED)

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