Oppenheimer Issues Pessimistic Forecast for Universal Display (NASDAQ:OLED) Stock Price

Universal Display (NASDAQ:OLED) had its price target decreased by Oppenheimer from $220.00 to $200.00 in a report issued on Thursday, Marketbeat reports. Oppenheimer currently has an outperform rating on the semiconductor company’s stock.

OLED has been the topic of a number of other reports. TD Cowen cut their price target on Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Needham & Company LLC cut their target price on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $207.86.

Universal Display Price Performance

OLED stock opened at $151.52 on Thursday. Universal Display has a 1 year low of $145.26 and a 1 year high of $237.00. The stock has a market cap of $7.19 billion, a price-to-earnings ratio of 30.43, a P/E/G ratio of 1.74 and a beta of 1.40. The company has a 50 day simple moving average of $165.06 and a 200 day simple moving average of $190.21.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.21. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. The company had revenue of $161.63 million during the quarter, compared to the consensus estimate of $165.28 million. During the same period in the prior year, the business earned $1.08 earnings per share. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. On average, equities research analysts anticipate that Universal Display will post 4.8 EPS for the current fiscal year.

Universal Display Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date was Tuesday, December 17th. Universal Display’s dividend payout ratio is currently 32.13%.

Insider Buying and Selling at Universal Display

In other news, Director Lawrence Lacerte bought 742 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were acquired at an average price of $180.89 per share, for a total transaction of $134,220.38. Following the completion of the acquisition, the director now directly owns 122,372 shares in the company, valued at approximately $22,135,871.08. This represents a 0.61 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Glenmede Trust Co. NA boosted its position in shares of Universal Display by 1.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 6,046 shares of the semiconductor company’s stock valued at $1,269,000 after purchasing an additional 97 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Universal Display by 8.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 52,713 shares of the semiconductor company’s stock worth $11,064,000 after buying an additional 4,269 shares in the last quarter. Montanaro Asset Management Ltd grew its position in shares of Universal Display by 217.4% during the 3rd quarter. Montanaro Asset Management Ltd now owns 63,260 shares of the semiconductor company’s stock worth $13,278,000 after buying an additional 43,330 shares during the period. Cerity Partners LLC increased its stake in shares of Universal Display by 385.2% in the 3rd quarter. Cerity Partners LLC now owns 8,588 shares of the semiconductor company’s stock valued at $1,803,000 after acquiring an additional 6,818 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of Universal Display by 117.2% during the 2nd quarter. ProShare Advisors LLC now owns 18,762 shares of the semiconductor company’s stock valued at $3,945,000 after acquiring an additional 10,122 shares during the period. 78.19% of the stock is owned by institutional investors.

About Universal Display

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.