Universal Display (NASDAQ:OLED) Price Target Cut to $105.00 by Analysts at Citigroup

Universal Display (NASDAQ:OLED) had its price target trimmed by Citigroup from $130.00 to $105.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a neutral rating on the semiconductor company’s stock.

A number of other research firms also recently weighed in on OLED. Needham & Company LLC dropped their price target on shares of Universal Display from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Roth Mkm reissued a “buy” rating and set a $180.00 price objective on shares of Universal Display in a research report on Friday, February 20th. Weiss Ratings restated a “hold (c-)” rating on shares of Universal Display in a research note on Monday, March 23rd. Finally, Wall Street Zen raised Universal Display from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Universal Display has a consensus rating of “Hold” and an average price target of $143.33.

Universal Display Stock Performance

OLED stock opened at $97.13 on Tuesday. The firm has a 50 day simple moving average of $103.17 and a 200 day simple moving average of $118.74. Universal Display has a 52 week low of $86.43 and a 52 week high of $163.21. The stock has a market cap of $4.57 billion, a P/E ratio of 19.16, a P/E/G ratio of 8.13 and a beta of 1.65.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Thursday, February 19th. The semiconductor company reported $1.39 earnings per share 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 firm had revenue of $172.93 million for the quarter, compared to analyst estimates of $173.35 million. During the same quarter in the prior year, the business earned $1.22 EPS. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. Sell-side analysts predict that Universal Display will post 4.71 EPS for the current year.

Universal Display Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, March 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.1%. This is an increase from Universal Display’s previous quarterly dividend of $0.45. Universal Display’s payout ratio is 39.45%.

Institutional Investors Weigh In On Universal Display

Large investors have recently bought and sold shares of the business. Norges Bank bought a new position in Universal Display during the fourth quarter valued at about $92,756,000. Vanguard Group Inc. boosted its stake in shares of Universal Display by 10.0% during the 3rd quarter. Vanguard Group Inc. now owns 5,069,107 shares of the semiconductor company’s stock worth $728,076,000 after acquiring an additional 460,792 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Universal Display by 86.4% during the 4th quarter. JPMorgan Chase & Co. now owns 880,678 shares of the semiconductor company’s stock valued at $102,846,000 after acquiring an additional 408,315 shares during the last quarter. Analog Century Management LP bought a new position in shares of Universal Display in the 4th quarter valued at approximately $46,914,000. Finally, UBS Group AG raised its stake in shares of Universal Display by 100.8% in the 4th quarter. UBS Group AG now owns 646,787 shares of the semiconductor company’s stock valued at $75,532,000 after acquiring an additional 324,677 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors.

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.