Universal Display (OLED) Price Target Raised to $215.00 at Susquehanna Bancshares

Universal Display (NASDAQ:OLED) had its target price lifted by Susquehanna Bancshares from $195.00 to $215.00 in a research note published on Friday morning. Susquehanna Bancshares currently has a positive rating on the semiconductor company’s stock.

A number of other equities research analysts also recently weighed in on OLED. Zacks Investment Research upgraded shares of Universal Display from a hold rating to a buy rating and set a $195.00 price target for the company in a research report on Thursday. Goldman Sachs Group reiterated a buy rating and issued a $161.00 price target (up from $150.00) on shares of Universal Display in a research report on Monday, September 18th. Cowen set a $140.00 price target on shares of Universal Display and gave the company a buy rating in a research report on Wednesday, October 11th. Deutsche Bank lifted their price target on shares of Universal Display to $150.00 and gave the company a buy rating in a research report on Tuesday, October 31st. Finally, Cross Research downgraded shares of Universal Display from a buy rating to a hold rating in a research report on Tuesday, October 31st. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $161.50.

Shares of Universal Display (NASDAQ:OLED) opened at $179.30 on Friday. The stock has a market cap of $8,570.00, a P/E ratio of 85.79 and a beta of 1.07. Universal Display has a 1 year low of $56.15 and a 1 year high of $192.75.

Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.19. Universal Display had a net margin of 32.92% and a return on equity of 16.67%. The company had revenue of $61.70 million during the quarter, compared to the consensus estimate of $47.35 million. During the same period in the previous year, the business earned ($0.03) earnings per share. The firm’s quarterly revenue was up 104.3% on a year-over-year basis. equities research analysts forecast that Universal Display will post 2.33 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $0.12 annualized dividend and a yield of 0.07%. Universal Display’s dividend payout ratio is currently 5.74%.

In other Universal Display news, insider Julia J. Brown sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the insider now directly owns 152,932 shares in the company, valued at $22,939,800. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Sidney D. Rosenblatt sold 50,240 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $167.80, for a total transaction of $8,430,272.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 146,734 shares of company stock valued at $23,349,769. Company insiders own 5.20% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in OLED. Legal & General Group Plc raised its position in Universal Display by 3.9% during the second quarter. Legal & General Group Plc now owns 14,984 shares of the semiconductor company’s stock valued at $1,637,000 after purchasing an additional 569 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in Universal Display by 79.4% during the second quarter. BNP Paribas Arbitrage SA now owns 1,536 shares of the semiconductor company’s stock valued at $168,000 after purchasing an additional 680 shares in the last quarter. Federated Investors Inc. PA raised its position in Universal Display by 2,779.8% during the second quarter. Federated Investors Inc. PA now owns 20,677 shares of the semiconductor company’s stock valued at $2,259,000 after purchasing an additional 19,959 shares in the last quarter. Utah Retirement Systems acquired a new position in Universal Display during the second quarter valued at approximately $831,000. Finally, Principal Financial Group Inc. raised its position in Universal Display by 31.6% during the second quarter. Principal Financial Group Inc. now owns 11,459 shares of the semiconductor company’s stock valued at $1,252,000 after purchasing an additional 2,750 shares in the last quarter. Institutional investors and hedge funds own 64.87% of the company’s stock.

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Universal Display Company Profile

Universal Display Corporation is engaged in the research, development and commercialization of organic light emitting diode (OLED), technologies and materials for use in display and solid-state lighting applications. The Company also supplies its OLED materials to manufacturers of OLED displays and lighting products for evaluation and for use in product development and for pre-commercial activities, and it also provides technical assistance and support to these manufacturers.

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