By otakuyassine3@gmail.com 
Universal Display Co. (NASDAQ:OLED – Get Free Report) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $148.09 and last traded at $149.69, with a volume of 339081 shares changing hands. The stock had previously closed at $155.85.
Analyst Ratings Changes
A number of research firms have recently commented on OLED. TD Cowen reduced their target price on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Oppenheimer cut their price objective on shares of Universal Display from $240.00 to $220.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Finally, Needham & Company LLC lowered their target price on Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $215.63.
Get Our Latest Stock Analysis on Universal Display
Universal Display Stock Performance
The company’s fifty day simple moving average is $179.17 and its two-hundred day simple moving average is $194.08. The company has a market capitalization of $7.08 billion, a price-to-earnings ratio of 29.94, a price-to-earnings-growth ratio of 1.74 and a beta of 1.39.
Universal Display (NASDAQ:OLED – Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.21. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. The business had revenue of $161.63 million during the quarter, compared to the consensus estimate of $165.28 million. During the same period last year, the firm earned $1.08 earnings per share. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. Sell-side analysts anticipate that Universal Display Co. will post 4.8 EPS for the current year.
Universal Display Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.07%. The ex-dividend date is Tuesday, December 17th. Universal Display’s dividend payout ratio (DPR) is presently 32.13%.
Insider Buying and Selling at Universal Display
In related news, Director Lawrence Lacerte acquired 742 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was purchased at an average cost of $180.89 per share, for a total transaction of $134,220.38. Following the purchase, the director now directly owns 122,372 shares in the company, valued at $22,135,871.08. This represents a 0.61 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 1.90% of the stock is owned by insiders.
Hedge Funds Weigh In On Universal Display
Several hedge funds and other institutional investors have recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC bought a new position in Universal Display in the 2nd quarter worth approximately $127,668,000. Citigroup Inc. grew its stake in shares of Universal Display by 1,387.6% in the third quarter. Citigroup Inc. now owns 261,723 shares of the semiconductor company’s stock worth $54,936,000 after purchasing an additional 244,129 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Universal Display by 629.9% during the third quarter. Raymond James & Associates now owns 269,414 shares of the semiconductor company’s stock valued at $56,550,000 after purchasing an additional 232,503 shares during the period. Barclays PLC raised its stake in shares of Universal Display by 753.8% during the third quarter. Barclays PLC now owns 212,518 shares of the semiconductor company’s stock valued at $44,608,000 after purchasing an additional 187,627 shares in the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new stake in Universal Display in the second quarter worth about $34,558,000. Institutional investors and hedge funds own 78.19% of the company’s stock.
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.
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