Universal Display (NASDAQ:OLED) Price Target Raised to $242.00

Universal Display (NASDAQ:OLED) had its price objective hoisted by Needham & Company LLC from $198.00 to $242.00 in a research note released on Tuesday morning, Marketbeat.com reports. Needham & Company LLC currently has a buy rating on the semiconductor company’s stock.

Universal Display Trading Up 2.1 %

NASDAQ:OLED opened at $217.98 on Tuesday. The stock has a market capitalization of $10.34 billion, a price-to-earnings ratio of 47.39, a PEG ratio of 2.31 and a beta of 1.42. The firm has a fifty day simple moving average of $185.88 and a two-hundred day simple moving average of $177.50. Universal Display has a 12 month low of $133.67 and a 12 month high of $219.31.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.14. The business had revenue of $165.26 million during the quarter, compared to analysts’ expectations of $150.75 million. Universal Display had a net margin of 36.00% and a return on equity of 15.57%. The business’s quarterly revenue was up 26.7% on a year-over-year basis. During the same period last year, the company posted $0.83 earnings per share. Equities analysts predict that Universal Display will post 4.75 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date was Friday, June 14th. Universal Display’s dividend payout ratio is currently 34.78%.

Insider Activity

In other news, EVP Julia J. Brown sold 10,358 shares of Universal Display 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 directly owns 56,624 shares in the company, valued at $9,909,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Julia J. Brown sold 10,358 shares of Universal Display 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 directly owns 56,624 shares in the company, valued at $9,909,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mauro Premutico sold 8,202 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $176.82, for a total transaction of $1,450,277.64. Following the transaction, the senior vice president now owns 28,743 shares in the company, valued at $5,082,337.26. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. purchased a new position in Universal Display during the fourth quarter worth about $25,000. ORG Partners LLC purchased a new position in Universal Display during the first quarter worth about $27,000. Principal Securities Inc. purchased a new position in Universal Display during the fourth quarter worth about $34,000. University of Texas Texas AM Investment Managment Co. purchased a new position in Universal Display during the fourth quarter worth about $35,000. Finally, Cape Investment Advisory Inc. raised its position in Universal Display by 1,977.8% in the fourth quarter. Cape Investment Advisory Inc. now owns 187 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 178 shares during the period. 78.19% of the stock is currently owned by hedge funds and other 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.