Cowen and Company Analysts Give Universal Display Co. (NASDAQ:OLED) a $140.00 Price Target
Cowen and Company set a $140.00 price target on Universal Display Co. (NASDAQ:OLED) in a research note issued to investors on Friday. The firm currently has a buy rating on the semiconductor company’s stock.
A number of other equities research analysts have also commented on OLED. Summit Redstone reaffirmed a hold rating and set a $95.00 price target on shares of Universal Display in a research report on Tuesday. Needham & Company LLC reaffirmed a hold rating on shares of Universal Display in a research report on Monday, May 8th. Susquehanna Bancshares Inc reaffirmed a positive rating and set a $120.00 price target (up previously from $105.00) on shares of Universal Display in a research report on Friday, May 5th. Benchmark Co. began coverage on Universal Display in a research report on Tuesday, April 25th. They set a hold rating on the stock. They noted that the move was a valuation call. Finally, Zacks Investment Research raised Universal Display from a sell rating to a hold rating in a research report on Saturday, May 6th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $110.88.
Shares of Universal Display (NASDAQ OLED) traded down 1.30% during trading on Friday, hitting $117.55. The stock had a trading volume of 1,810,438 shares. The company has a market capitalization of $5.53 billion, a price-to-earnings ratio of 98.04 and a beta of 1.05. The firm has a 50 day moving average of $117.32 and a 200 day moving average of $95.25. Universal Display has a 1-year low of $47.88 and a 1-year high of $130.65.
Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.99 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.31. The company had revenue of $102.50 million for the quarter, compared to analyst estimates of $84.81 million. Universal Display had a return on equity of 32.27% and a net margin of 46.03%. Universal Display’s revenue was up 59.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.46 earnings per share. Analysts expect that Universal Display will post $1.82 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Saturday, September 30th. Investors of record on Friday, September 15th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.10%. The ex-dividend date of this dividend is Thursday, September 14th. Universal Display’s dividend payout ratio is presently 6.94%.
In related news, insider Julia J. Brown sold 10,000 shares of Universal Display stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $125.00, for a total value of $1,250,000.00. Following the sale, the insider now owns 162,932 shares of the company’s stock, valued at approximately $20,366,500. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Sidney D. Rosenblatt sold 16,924 shares of Universal Display stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $112.82, for a total value of $1,909,365.68. Following the completion of the sale, the chief financial officer now directly owns 378,870 shares in the company, valued at approximately $42,744,113.40. The disclosure for this sale can be found here. In the last three months, insiders sold 105,278 shares of company stock worth $12,274,829. 5.70% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of OLED. Advisory Services Network LLC bought a new position in Universal Display during the first quarter worth $543,000. Russell Investments Group Ltd. increased its position in Universal Display by 292.4% in the first quarter. Russell Investments Group Ltd. now owns 66,412 shares of the semiconductor company’s stock worth $5,717,000 after buying an additional 49,488 shares in the last quarter. Strs Ohio increased its position in Universal Display by 115.4% in the first quarter. Strs Ohio now owns 5,600 shares of the semiconductor company’s stock worth $482,000 after buying an additional 3,000 shares in the last quarter. Duncker Streett & Co. Inc. increased its position in Universal Display by 3.8% in the first quarter. Duncker Streett & Co. Inc. now owns 5,400 shares of the semiconductor company’s stock worth $465,000 after buying an additional 200 shares in the last quarter. Finally, Dubuque Bank & Trust Co. bought a new position in Universal Display during the first quarter worth $125,000. Hedge funds and other institutional investors own 69.76% of the company’s stock.
Universal Display Company Profile
Universal Display Corporation is engaged in the research, development and commercialization of organic light emitting diode (OLED), technologies and materials for use in display and solid-state lighting applications. The Company also supplies its OLED materials to manufacturers of OLED displays and lighting products for evaluation and for use in product development and for pre-commercial activities, and it also provides technical assistance and support to these manufacturers.
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