Universal Display (NASDAQ:OLED) had its price target increased by Deutsche Bank to $190.00 in a research note issued to investors on Friday. They currently have a buy rating on the semiconductor company’s stock.
A number of other research firms have also recently weighed in on OLED. Cowen set a $140.00 price target on Universal Display and gave the company a buy rating in a report on Wednesday, October 11th. Goldman Sachs Group reaffirmed a buy rating and set a $161.00 price target (up previously from $150.00) on shares of Universal Display in a report on Monday, September 18th. Zacks Investment Research raised Universal Display from a hold rating to a buy rating and set a $198.00 price target on the stock in a report on Wednesday, November 15th. Needham & Company LLC reaffirmed a hold rating on shares of Universal Display in a report on Friday, November 3rd. Finally, Gabelli cut Universal Display from a buy rating to a hold rating and set a $134.00 price target on the stock. in a report on Friday, November 3rd. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of Hold and a consensus price target of $155.30.
Shares of Universal Display (NASDAQ:OLED) traded up $5.35 during mid-day trading on Friday, reaching $172.70. The company’s stock had a trading volume of 1,951,400 shares, compared to its average volume of 840,181. Universal Display has a 12 month low of $55.30 and a 12 month high of $192.75. The firm has a market capitalization of $8,123.91, a P/E ratio of 84.66 and a beta of 1.06.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.03 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.07%. Universal Display’s dividend payout ratio (DPR) is presently 5.88%.
In related news, CFO Sidney D. Rosenblatt sold 50,240 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $135.02, for a total transaction of $6,783,404.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Julia J. Brown sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $150.00, for a total value of $1,500,000.00. Following the sale, the insider now directly owns 152,932 shares in the company, valued at approximately $22,939,800. The disclosure for this sale can be found here. In the last three months, insiders have sold 196,974 shares of company stock worth $30,133,174. 5.20% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. Bank of Montreal Can grew its position in Universal Display by 214.7% in the second quarter. Bank of Montreal Can now owns 6,010 shares of the semiconductor company’s stock worth $656,000 after buying an additional 4,100 shares during the last quarter. Aperio Group LLC grew its position in Universal Display by 19.0% in the second quarter. Aperio Group LLC now owns 9,685 shares of the semiconductor company’s stock worth $1,058,000 after buying an additional 1,545 shares during the last quarter. Public Employees Retirement Association of Colorado grew its position in Universal Display by 14.8% in the second quarter. Public Employees Retirement Association of Colorado now owns 10,156 shares of the semiconductor company’s stock worth $1,110,000 after buying an additional 1,308 shares during the last quarter. Janney Montgomery Scott LLC grew its position in Universal Display by 19.5% in the second quarter. Janney Montgomery Scott LLC now owns 2,967 shares of the semiconductor company’s stock worth $324,000 after buying an additional 485 shares during the last quarter. Finally, Daiwa Securities Group Inc. acquired a new position in Universal Display in the second quarter worth approximately $197,000. 65.03% of the stock is currently owned by hedge funds and other institutional investors.
About Universal Display
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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