Artemis Investment Management LLP, an investment firm based in London, recently disclosed a decrease in its position in Universal Display Co. The company sold 1,391 shares during the second quarter of this year, representing a 17.2% decrease in its holdings. As per its most recent disclosure with the US Securities and Exchange Commission (SEC), Artemis’ remaining stake in Universal Display is valued at $962,000.
Universal Display Co., listed on the Nasdaq under the ticker symbol OLED, has attracted significant attention from analysts lately. Research organization TD Cowen raised their target price on Universal Display shares from $150.00 to $185.00 and assigned the company an “outperform” rating in a report released on August 7th. StockNews.com, another research firm, began covering Universal Display with a “hold” rating on August 17th. Additionally, Needham & Company LLC reaffirmed a “buy” rating with a target price of $175.00 for the stock on September 13th. The Goldman Sachs Group also increased their price target for OLED shares from $168.00 to $185.00 and gave it a “buy” rating on August 4th. Lastly, Bank of America adjusted their price objective for Universal Display from $145.00 to $165.00 and labeled the company as “neutral” on August 4th.
Presently, among analysts who cover the stock, three rate it as “hold,” while six maintain a “buy” rating for Universal Display Co.’s shares. According to Bloomberg data, there is currently a consensus rating of “Moderate Buy,” with an average target price of $167.22 attributed to the company.
On Friday’s trading session, OLED stock opened at $156.04 per share. Over the past twelve months, Universal Display has observed a low of $89.41 and achieved a high of $166.57. With a market capitalization of $7.39 billion, the company operates with a price-to-earnings (P/E) ratio of 35.87 and a PEG ratio of 2.60. Its beta stands at 1.29, indicating the stock’s sensitivity to market movements. Currently, the firm holds a 50-day simple moving average of $154.30 and a 200-day simple moving average of $147.44.
Investors and analysts will continue to monitor Universal Display Co.’s performance closely as the company works towards realizing its growth potential in the semiconductor industry.
Positive Sentiment and Strong Financials Drive Universal Display (OLED)
Universal Display (NASDAQ: OLED) has recently seen a number of hedge funds and institutional investors buying and selling shares of the company. WealthPLAN Partners LLC, for example, purchased a new position in Universal Display during the first quarter, valued at $31,000. Similarly, Harbor Capital Advisors Inc. acquired a new stake in the company during the second quarter, worth approximately $84,000. Avalon Trust Co also purchased a new stake in Universal Display during the first quarter for about $88,000.
In addition to these institutional investments, Brown Brothers Harriman & Co. acquired a new position in shares of Universal Display during the first quarter valued at about $93,000. Captrust Financial Advisors also increased its holdings in the second quarter by 127.6%. They now own 1,063 shares of Universal Display worth $107,000 after acquiring an additional 596 shares.
Overall, institutional investors and hedge funds own 75.92% of the company’s stock.
Moving on to other news surrounding Universal Display, Director Richard C. Elias recently sold 2,000 shares of the business’s stock on August 9th at an average price of $157.68 per share for a total transaction value of $315,360. Following this sale, Elias now holds 5,767 shares in the company valued at $909,340.
Moreover,Mauro Premutico – Senior Vice President of Universal Display – sold 9,351 shares of company stock on September 6th at an average price of $161.17 per share for total value amounting to $1,507,100.
As for analyst reports on Universal Display (OLED), TD Cowen boosted their target price from $150 to $185 and gave it an “outperform” rating on August 7th.StockNews.com began coverage on Universal Display with a “hold” rating on August 17th. Similarly, Needham & Company LLC recommended a “buy” rating with a target price of $175 on September 13th. The Goldman Sachs Group raised their price target on Universal Display from $168 to $185 and rated the stock as a “buy” on August 4th.
Finally, Bank of America increased their price objective from $145 to $165, giving the company a “neutral” rating.
Based on Bloomberg data, it can be observed that there are three analysts who have given the stock a hold rating and six have assigned a buy rating. The consensus target price is currently estimated at $167.22.
Universal Display’s quarterly earnings results showed promising figures as well. In the last quarter ending August 3rd, the semiconductor company reported an earnings per share (EPS) of $1.04, surpassing the consensus estimate of $0.75 by $0.29.The business also saw revenue totaling at $146.57 million for the quarter, compared to analysts’ expectations of just $128.60 million.Universal Display demonstrated an impressive net margin of 34.31% and return on equity of 16.24%. Revenue for this quarter increased by 7.3% compared to the same period last year.
Looking ahead, research analysts predict that Universal Display Co., will post an EPS of 3.96 for this year.
On another note, Universal Display recently announced a quarterly dividend which has been set to be paid out on Friday, September 29th.Stockholders who were recorded owning shares as of Friday, September 15th will be eligible for this dividend.The ex-dividend date has been set for Thursday, September 14th.
In conclusion,the recent activity in Universal Display’s stock among hedge funds and institutional investors indicates positive sentiment towards the company.There has also been movement amongst insiders with Director Richard C.Elias selling shares.On another front,the company’s recent quarterly earnings results exceeded expectations.Recent analyst reports have overall been favorable as well. As we look ahead, Universal Display is expected to continue its positive trajectory.