Universal Display (NASDAQ:OLED) Given New $225.00 Price Target at TD Cowen

Universal Display (NASDAQ:OLED) had its target price decreased by TD Cowen from $250.00 to $225.00 in a report released on Thursday morning, MarketBeat Ratings reports. TD Cowen currently has a buy rating on the semiconductor company’s stock.

OLED has been the topic of several other research reports. Roth Mkm increased their target price on shares of Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Susquehanna boosted their target price on Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. The Goldman Sachs Group raised their price target on Universal Display from $208.00 to $243.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, Oppenheimer boosted their price objective on Universal Display from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, July 3rd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $215.63.

Universal Display Stock Down 11.2 %

OLED opened at $180.32 on Thursday. The business’s fifty day simple moving average is $201.79 and its 200 day simple moving average is $193.89. Universal Display has a 52 week low of $133.67 and a 52 week high of $237.00. The stock has a market cap of $8.56 billion, a PE ratio of 36.21, a P/E/G ratio of 2.17 and a beta of 1.42.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20. The company had revenue of $161.63 million for the quarter, compared to analysts’ expectations of $165.28 million. Universal Display had a return on equity of 16.01% and a net margin of 36.98%. Universal Display’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period last year, the firm posted $1.08 EPS. As a group, equities analysts anticipate that Universal Display will post 4.81 earnings per share for the current year.

Universal Display Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a $0.40 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.89%. Universal Display’s dividend payout ratio is currently 32.13%.

Hedge Funds Weigh In On Universal Display

Hedge funds and other institutional investors have recently made changes to their positions in the business. State of Michigan Retirement System raised its holdings in Universal Display by 2.9% in the 1st quarter. State of Michigan Retirement System now owns 10,705 shares of the semiconductor company’s stock worth $1,803,000 after purchasing an additional 300 shares in the last quarter. Private Advisor Group LLC boosted its position in Universal Display by 133.4% during the 1st quarter. Private Advisor Group LLC now owns 5,513 shares of the semiconductor company’s stock valued at $929,000 after acquiring an additional 3,151 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Universal Display during the 1st quarter worth approximately $714,000. Geneos Wealth Management Inc. raised its position in shares of Universal Display by 210.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 233 shares of the semiconductor company’s stock worth $39,000 after acquiring an additional 158 shares in the last quarter. Finally, Texas Permanent School Fund Corp lifted its stake in shares of Universal Display by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 38,131 shares of the semiconductor company’s stock valued at $6,423,000 after purchasing an additional 493 shares during the period. 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.