Universal Display Co. (NASDAQ:OLED) Receives Average Rating of “Buy” from Analysts

Shares of Universal Display Co. (NASDAQ:OLEDGet Rating) have been given an average recommendation of “Buy” by the ten analysts that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $198.88.

A number of brokerages recently commented on OLED. StockNews.com began coverage on Universal Display in a research note on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research raised Universal Display from a “sell” rating to a “hold” rating and set a $145.00 price objective for the company in a research note on Tuesday, April 26th. Needham & Company LLC decreased their price objective on Universal Display from $195.00 to $165.00 in a research note on Friday, May 6th. Cowen decreased their price objective on Universal Display from $225.00 to $175.00 in a research note on Thursday, February 24th. Finally, Oppenheimer decreased their price objective on Universal Display from $225.00 to $210.00 in a research note on Thursday, February 24th.

NASDAQ OLED opened at $128.33 on Wednesday. The stock has a fifty day moving average of $136.20 and a 200-day moving average of $148.15. The stock has a market capitalization of $6.06 billion, a P/E ratio of 33.51, a price-to-earnings-growth ratio of 1.18 and a beta of 1.41. Universal Display has a 52 week low of $114.27 and a 52 week high of $237.00.

Universal Display (NASDAQ:OLEDGet Rating) last released its earnings results on Thursday, May 5th. The semiconductor company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.95 by $0.10. The company had revenue of $150.50 million during the quarter, compared to analysts’ expectations of $143.81 million. Universal Display had a return on equity of 17.14% and a net margin of 32.02%. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period last year, the firm earned $1.08 EPS. As a group, equities research analysts forecast that Universal Display will post 4.56 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Thursday, June 16th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, June 15th. This represents a $1.20 annualized dividend and a yield of 0.94%. Universal Display’s dividend payout ratio is presently 31.33%.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Universal Display by 2.8% in the first quarter. BlackRock Inc. now owns 4,309,400 shares of the semiconductor company’s stock valued at $719,455,000 after purchasing an additional 117,055 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Universal Display by 6.0% in the first quarter. Vanguard Group Inc. now owns 4,266,391 shares of the semiconductor company’s stock valued at $712,274,000 after purchasing an additional 241,855 shares in the last quarter. State Street Corp lifted its holdings in shares of Universal Display by 10.2% in the fourth quarter. State Street Corp now owns 1,388,245 shares of the semiconductor company’s stock valued at $229,102,000 after purchasing an additional 128,230 shares in the last quarter. Norges Bank acquired a new stake in shares of Universal Display in the fourth quarter valued at about $145,139,000. Finally, JPMorgan Chase & Co. increased its position in shares of Universal Display by 42.3% in the first quarter. JPMorgan Chase & Co. now owns 838,603 shares of the semiconductor company’s stock valued at $140,006,000 after acquiring an additional 249,377 shares during the last quarter. Institutional investors own 71.15% of the company’s stock.

About Universal Display (Get Rating)

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. It owns, exclusively licenses, or has sole rights to sublicense approximately 5,500 issued and pending patents worldwide.

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Analyst Recommendations for Universal Display (NASDAQ:OLED)

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