Universal Display (NASDAQ:OLED) Hits New 12-Month High at $207.76

Universal Display Co. (NASDAQ:OLED)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $207.76 and last traded at $207.23, with a volume of 429415 shares trading hands. The stock had previously closed at $201.40.

Analysts Set New Price Targets

OLED has been the topic of a number of research reports. TD Cowen boosted their target price on shares of Universal Display from $165.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Oppenheimer restated an “outperform” rating and set a $200.00 price objective (down previously from $210.00) on shares of Universal Display in a report on Friday, February 23rd. Finally, Needham & Company LLC restated a “buy” rating and set a $198.00 price objective on shares of Universal Display in a report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $199.86.

Universal Display Price Performance

The company’s fifty day moving average price is $171.21 and its 200 day moving average price is $174.31. The company has a market cap of $9.83 billion, a PE ratio of 44.15, a P/E/G ratio of 2.18 and a beta of 1.47.

Universal Display (NASDAQ:OLED) last announced its earnings results on Thursday, May 2nd. The semiconductor company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.05 by $0.14. The company had revenue of $165.26 million during the quarter, compared to the consensus estimate of $150.75 million. Universal Display had a net margin of 36.00% and a return on equity of 15.57%. The firm’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.83 earnings per share. On average, analysts forecast that Universal Display Co. will post 4.75 EPS for the current year.

Universal Display Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.60 annualized dividend and a yield of 0.77%. Universal Display’s payout ratio is currently 34.78%.

Insider Activity at Universal Display

In related news, EVP Julia J. Brown sold 10,358 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $175.00, for a total transaction of $1,812,650.00. Following the completion of the transaction, the executive vice president now owns 56,624 shares in the company, valued at $9,909,200. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Universal Display news, SVP Mauro Premutico sold 8,202 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $176.82, for a total transaction of $1,450,277.64. Following the completion of the transaction, the senior vice president now owns 28,743 shares in the company, valued at $5,082,337.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Julia J. Brown sold 10,358 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $175.00, for a total transaction of $1,812,650.00. Following the transaction, the executive vice president now owns 56,624 shares of the company’s stock, valued at approximately $9,909,200. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Universal Display

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Peapack Gladstone Financial Corp raised its stake in Universal Display by 1.8% in the fourth quarter. Peapack Gladstone Financial Corp now owns 3,367 shares of the semiconductor company’s stock valued at $643,000 after purchasing an additional 60 shares in the last quarter. 1492 Capital Management LLC raised its stake in shares of Universal Display by 0.8% during the fourth quarter. 1492 Capital Management LLC now owns 9,543 shares of the semiconductor company’s stock worth $1,825,000 after acquiring an additional 79 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of Universal Display by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 20,516 shares of the semiconductor company’s stock worth $3,221,000 after purchasing an additional 100 shares during the last quarter. Spire Wealth Management grew its holdings in shares of Universal Display by 11.1% in the first quarter. Spire Wealth Management now owns 1,000 shares of the semiconductor company’s stock worth $168,000 after purchasing an additional 100 shares during the last quarter. Finally, Bahl & Gaynor Inc. grew its holdings in shares of Universal Display by 0.5% in the first quarter. Bahl & Gaynor Inc. now owns 18,645 shares of the semiconductor company’s stock worth $3,141,000 after purchasing an additional 101 shares during the last quarter. 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.