Citigroup Cuts Universal Display (NASDAQ:OLED) Price Target to $105.00
by Renee Jackson · The Cerbat GemUniversal Display (NASDAQ:OLED – Free Report) had its price objective lowered by Citigroup from $130.00 to $105.00 in a report published on Tuesday,Benzinga reports. The firm currently has a neutral rating on the semiconductor company’s stock.
Other research analysts also recently issued research reports about the stock. Roth Mkm reissued a “buy” rating and set a $180.00 price objective on shares of Universal Display in a report on Friday, February 20th. Wall Street Zen raised shares of Universal Display from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Weiss Ratings reissued a “hold (c-)” rating on shares of Universal Display in a report on Monday, March 23rd. Finally, Needham & Company LLC dropped their price objective on shares of Universal Display from $150.00 to $145.00 and set a “buy” rating for the company in a report on Friday, February 20th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Universal Display presently has a consensus rating of “Hold” and an average target price of $143.33.
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Universal Display Stock Up 0.7%
OLED opened at $99.33 on Tuesday. The firm has a 50-day simple moving average of $102.50 and a two-hundred day simple moving average of $118.47. Universal Display has a 52 week low of $86.43 and a 52 week high of $163.21. The company has a market capitalization of $4.68 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 7.98 and a beta of 1.65.
Universal Display (NASDAQ:OLED – Get Free Report) last released its quarterly earnings data on Thursday, February 19th. The semiconductor company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.28 by $0.11. Universal Display had a net margin of 37.21% and a return on equity of 14.07%. The business had revenue of $172.93 million during the quarter, compared to the consensus estimate of $173.35 million. During the same quarter in the prior year, the firm earned $1.22 EPS. The business’s revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts expect that Universal Display will post 4.71 earnings per share for the current year.
Universal Display Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Tuesday, March 17th. This is a positive change from Universal Display’s previous quarterly dividend of $0.45. Universal Display’s payout ratio is 39.45%.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC lifted its holdings in shares of Universal Display by 309.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 209 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 158 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new position in shares of Universal Display in the 3rd quarter valued at about $33,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Universal Display in the 3rd quarter valued at about $37,000. Rise Advisors LLC lifted its holdings in shares of Universal Display by 53.3% in the 3rd quarter. Rise Advisors LLC now owns 299 shares of the semiconductor company’s stock valued at $43,000 after acquiring an additional 104 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Universal Display by 27.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 351 shares of the semiconductor company’s stock valued at $50,000 after acquiring an additional 75 shares during the last quarter. Institutional investors own 78.19% of the company’s stock.
About Universal Display
Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.
Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.