Universal Display Co. (NASDAQ:OLED – Get Rating) shares reached a new 52-week low during mid-day trading on Wednesday after Oppenheimer lowered their price target on the stock from $160.00 to $150.00. The stock traded as low as $95.39 and last traded at $97.60, with a volume of 403681 shares traded. The stock had previously closed at $96.77.
OLED has been the topic of several other reports. Deutsche Bank Aktiengesellschaft reduced their price objective on Universal Display from $180.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, August 1st. The Goldman Sachs Group cut their price target on Universal Display from $225.00 to $192.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. Needham & Company LLC cut their price target on Universal Display from $165.00 to $140.00 and set a “buy” rating on the stock in a research note on Tuesday, July 26th. Bank of America lowered Universal Display from a “buy” rating to a “neutral” rating and cut their price target for the company from $190.00 to $135.00 in a research note on Wednesday, June 29th. Finally, Cowen cut their price target on Universal Display from $175.00 to $145.00 in a research note on Friday, August 5th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.30.
Insiders Place Their Bets
In other Universal Display news, Director Lawrence Lacerte sold 10,366 shares of Universal Display stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $115.21, for a total value of $1,194,266.86. Following the completion of the sale, the director now directly owns 190,366 shares in the company, valued at $21,932,066.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.70% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Universal Display
Hedge funds have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC increased its holdings in shares of Universal Display by 0.9% during the first quarter. Commonwealth Equity Services LLC now owns 10,467 shares of the semiconductor company’s stock valued at $1,747,000 after acquiring an additional 94 shares in the last quarter. Itau Unibanco Holding S.A. increased its holdings in shares of Universal Display by 72.2% during the fourth quarter. Itau Unibanco Holding S.A. now owns 229 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 96 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Universal Display by 1.4% during the first quarter. PNC Financial Services Group Inc. now owns 7,054 shares of the semiconductor company’s stock valued at $1,178,000 after buying an additional 99 shares during the last quarter. Fieldpoint Private Securities LLC boosted its position in shares of Universal Display by 15.3% during the first quarter. Fieldpoint Private Securities LLC now owns 762 shares of the semiconductor company’s stock valued at $127,000 after buying an additional 101 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC boosted its position in shares of Universal Display by 1.4% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 7,454 shares of the semiconductor company’s stock valued at $1,245,000 after buying an additional 105 shares during the last quarter. 71.77% of the stock is currently owned by institutional investors.
Universal Display Stock Up 0.9 %
The company has a market cap of $4.61 billion, a PE ratio of 25.14, a PEG ratio of 1.15 and a beta of 1.46. The company has a 50-day moving average of $112.31 and a 200-day moving average of $124.67.
Universal Display (NASDAQ:OLED – Get Rating) last announced its earnings results on Thursday, August 4th. The semiconductor company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.10). The company had revenue of $136.60 million for the quarter, compared to analysts’ expectations of $151.21 million. Universal Display had a net margin of 31.80% and a return on equity of 16.55%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.85 EPS. As a group, equities analysts predict that Universal Display Co. will post 4.07 EPS for the current year.
Universal Display Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be given a $0.30 dividend. The ex-dividend date is Thursday, September 15th. This represents a $1.20 annualized dividend and a yield of 1.23%. Universal Display’s dividend payout ratio is currently 31.17%.
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. It owns, exclusively licenses, or has sole rights to sublicense approximately 5,500 issued and pending patents worldwide.