Several other analysts also recently weighed in on the company. Deutsche Bank boosted their price objective on Universal Display from $190.00 to $220.00 and gave the company a buy rating in a research report on Tuesday, July 23rd. Susquehanna Bancshares reiterated a neutral rating and issued a $180.00 price objective on shares of Universal Display in a research report on Monday, April 29th. Oppenheimer downgraded Universal Display from an outperform rating to a market perform rating and set a $190.50 price objective for the company. in a research report on Wednesday, July 10th. They noted that the move was a valuation call. Zacks Investment Research downgraded Universal Display from a strong-buy rating to a hold rating in a research report on Wednesday, April 24th. Finally, ValuEngine downgraded Universal Display from a strong-buy rating to a buy rating in a research report on Friday, August 2nd. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and an average target price of $182.46.
Shares of OLED stock opened at $206.81 on Monday. Universal Display has a fifty-two week low of $78.78 and a fifty-two week high of $218.28. The stock has a 50 day moving average price of $202.93 and a two-hundred day moving average price of $166.53. The company has a market capitalization of $9.74 billion, a P/E ratio of 166.78, a PEG ratio of 2.61 and a beta of 1.53.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.19%. Universal Display’s dividend payout ratio is presently 32.26%.
In related news, Director C Keith Hartley sold 10,528 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $214.27, for a total transaction of $2,255,834.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Mauro Premutico sold 14,076 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $175.16, for a total value of $2,465,552.16. Following the transaction, the vice president now owns 51,989 shares of the company’s stock, valued at approximately $9,106,393.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 177,801 shares of company stock valued at $34,646,297. 3.70% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. TCI Wealth Advisors Inc. grew its stake in Universal Display by 1,458.3% in the second quarter. TCI Wealth Advisors Inc. now owns 187 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 175 shares during the period. Capital Investment Advisory Services LLC grew its stake in Universal Display by 94.0% in the second quarter. Capital Investment Advisory Services LLC now owns 194 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 94 shares during the period. Meridian Wealth Management LLC purchased a new stake in Universal Display in the first quarter worth $31,000. Weaver Consulting Group purchased a new stake in Universal Display in the first quarter worth $39,000. Finally, Institutional & Family Asset Management LLC grew its stake in Universal Display by 79.4% in the second quarter. Institutional & Family Asset Management LLC now owns 226 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 100 shares during the period. Institutional investors own 75.79% 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.
Recommended Story: How To Calculate Debt-to-Equity Ratio
Receive News & Ratings for Universal Display Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Display and related companies with MarketBeat.com's FREE daily email newsletter.