A number of other equities research analysts have also recently commented on OLED. Zacks Investment Research cut Universal Display from a strong-buy rating to a hold rating in a research note on Wednesday, April 24th. ValuEngine cut Universal Display from a strong-buy rating to a buy rating in a research note on Friday, August 2nd. Citigroup lifted their target price on Universal Display from $180.00 to $223.00 and gave the stock a neutral rating in a research note on Friday, August 2nd. Roth Capital lifted their target price on Universal Display from $172.00 to $206.00 and gave the stock a neutral rating in a research note on Friday, August 2nd. Finally, Berenberg Bank assumed coverage on Universal Display in a research note on Wednesday, July 24th. They set a hold rating and a $192.00 target price on the stock. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $182.46.
NASDAQ OLED opened at $206.81 on Monday. The stock has a market capitalization of $9.74 billion, a price-to-earnings ratio of 166.78, a PEG ratio of 2.61 and a beta of 1.53. Universal Display has a one year low of $78.78 and a one year high of $218.28. The business’s fifty day moving average is $202.93 and its 200-day moving average is $166.53.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date of this dividend is Friday, September 13th. Universal Display’s dividend payout ratio is currently 32.26%.
In related news, Director Lawrence Lacerte sold 30,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $205.84, for a total value of $6,175,200.00. Following the sale, the director now directly owns 308,536 shares in the company, valued at approximately $63,509,050.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director C Keith Hartley sold 10,528 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $214.27, for a total value of $2,255,834.56. The disclosure for this sale can be found here. Insiders sold a total of 177,801 shares of company stock worth $34,646,297 over the last 90 days. 3.70% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the stock. TCI Wealth Advisors Inc. grew its holdings in Universal Display by 1,458.3% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 187 shares of the semiconductor company’s stock valued at $35,000 after buying an additional 175 shares in the last quarter. Capital Investment Advisory Services LLC grew its holdings in Universal Display by 94.0% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 194 shares of the semiconductor company’s stock valued at $40,000 after buying an additional 94 shares in the last quarter. Meridian Wealth Management LLC purchased a new position in Universal Display during the 1st quarter valued at about $31,000. Weaver Consulting Group purchased a new position in Universal Display during the 1st quarter valued at about $39,000. Finally, Institutional & Family Asset Management LLC grew its holdings in Universal Display by 79.4% during the 2nd quarter. Institutional & Family Asset Management LLC now owns 226 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 75.79% 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 flat panel displays and solid-state lighting applications. As of February 21, 2019, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 5,000 issued and pending patents worldwide.
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