Oppenheimer Cuts Universal Display (NASDAQ:OLED) Price Target to $200.00

Universal Display (NASDAQ:OLED) had its target price lowered by Oppenheimer from $220.00 to $200.00 in a research note released on Thursday morning, Marketbeat reports. The brokerage currently has an outperform rating on the semiconductor company’s stock.

Other equities analysts also recently issued research reports about the company. TD Cowen lowered their price target on Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Needham & Company LLC decreased their target price on Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $207.86.

Universal Display Trading Up 1.3 %

NASDAQ OLED 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 company has a market capitalization of $7.19 billion, a price-to-earnings ratio of 30.43, a PEG ratio of 1.74 and a beta of 1.40. The stock’s 50 day moving average is $165.06 and its two-hundred day moving average is $190.21.

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

Universal Display Dividend Announcement

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

Insider Buying and Selling at Universal Display

In other Universal Display news, Director Lawrence Lacerte acquired 742 shares of the company’s stock in a transaction on Monday, November 4th. The stock was acquired at an average price of $180.89 per share, for a total transaction of $134,220.38. Following the purchase, the director now directly owns 122,372 shares of the company’s stock, valued at $22,135,871.08. This trade represents a 0.61 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in OLED. Nisa Investment Advisors LLC grew its position in Universal Display by 60.2% during the third quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company’s stock worth $36,000 after buying an additional 65 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Universal Display by 7.6% during the 2nd quarter. CIBC Asset Management Inc now owns 1,351 shares of the semiconductor company’s stock worth $284,000 after purchasing an additional 96 shares in the last quarter. UMB Bank n.a. increased its position in shares of Universal Display by 42.1% in the third quarter. UMB Bank n.a. now owns 324 shares of the semiconductor company’s stock worth $68,000 after purchasing an additional 96 shares during the period. Glenmede Trust Co. NA increased its position in shares of Universal Display by 1.6% in the third quarter. Glenmede Trust Co. NA now owns 6,046 shares of the semiconductor company’s stock worth $1,269,000 after purchasing an additional 97 shares during the period. Finally, Prospera Financial Services Inc raised its stake in Universal Display by 4.4% in the third quarter. Prospera Financial Services Inc now owns 2,576 shares of the semiconductor company’s stock valued at $542,000 after purchasing an additional 108 shares in the last quarter. 78.19% of the stock is owned by institutional investors.

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.