Universal Display (NASDAQ:OLED) Reaches New 1-Year High at $166.89

Universal Display Co. (NASDAQ:OLED)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $166.89 and last traded at $166.82, with a volume of 106944 shares changing hands. The stock had previously closed at $163.25.

Analyst Ratings Changes

A number of research firms have weighed in on OLED. StockNews.com began coverage on Universal Display in a report on Thursday, October 5th. They set a “hold” rating on the stock. Citigroup upped their target price on Universal Display from $150.00 to $182.00 and gave the stock a “buy” rating in a report on Tuesday, August 8th. Bank of America upped their target price on Universal Display from $145.00 to $165.00 and gave the stock a “neutral” rating in a report on Friday, August 4th. Needham & Company LLC reiterated a “buy” rating and set a $175.00 target price on shares of Universal Display in a report on Wednesday, September 13th. Finally, Roth Mkm reduced their target price on Universal Display from $196.00 to $176.00 and set a “buy” rating on the stock in a report on Friday, November 3rd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Universal Display has a consensus rating of “Moderate Buy” and a consensus target price of $168.10.

Universal Display Stock Performance

The business has a 50-day moving average price of $155.52 and a 200 day moving average price of $150.21. The stock has a market capitalization of $7.90 billion, a P/E ratio of 37.88, a PEG ratio of 1.82 and a beta of 1.35.

Universal Display Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a $0.35 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.84%. Universal Display’s dividend payout ratio is currently 32.48%.

Insider Activity at Universal Display

In related news, SVP Mauro Premutico sold 9,351 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $161.17, for a total value of $1,507,100.67. Following the transaction, the senior vice president now directly owns 33,220 shares of the company’s stock, valued at approximately $5,354,067.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Universal Display

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OLED. Alliancebernstein L.P. lifted its position in Universal Display by 1,715.2% in the 4th quarter. Alliancebernstein L.P. now owns 1,210,966 shares of the semiconductor company’s stock valued at $130,833,000 after acquiring an additional 1,144,252 shares in the last quarter. Norges Bank bought a new position in shares of Universal Display during the 4th quarter valued at $47,819,000. Frontier Capital Management Co. LLC lifted its holdings in shares of Universal Display by 175.0% during the 1st quarter. Frontier Capital Management Co. LLC now owns 542,011 shares of the semiconductor company’s stock valued at $84,082,000 after buying an additional 344,903 shares during the period. UniSuper Management Pty Ltd bought a new position in shares of Universal Display during the 2nd quarter valued at $43,127,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Universal Display by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 4,266,391 shares of the semiconductor company’s stock valued at $712,274,000 after buying an additional 241,855 shares during the period. 75.92% of the stock is owned by 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. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.