Universal Display (NASDAQ:OLED) Rating Reiterated by Needham & Company LLC

Universal Display (NASDAQ:OLED)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a report issued on Tuesday, Benzinga reports. They presently have a $198.00 price objective on the semiconductor company’s stock. Needham & Company LLC’s target price suggests a potential upside of 18.03% from the company’s previous close.

A number of other analysts also recently issued reports on the stock. Citigroup reissued a “neutral” rating and set a $180.00 target price (up previously from $161.00) on shares of Universal Display in a research report on Friday, January 19th. TD Cowen increased their target price on shares of Universal Display from $165.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Oppenheimer reissued an “outperform” rating and set a $200.00 target price (down previously from $210.00) on shares of Universal Display in a research report on Friday, February 23rd. Bank of America raised shares of Universal Display from a “neutral” rating to a “buy” rating and increased their target price for the stock from $160.00 to $250.00 in a research report on Monday, December 18th. Finally, TheStreet raised shares of Universal Display from a “c+” rating to a “b-” rating in a research report on Thursday, December 21st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $199.86.

Universal Display Stock Performance

Shares of OLED opened at $167.75 on Tuesday. The stock has a market capitalization of $7.95 billion, a P/E ratio of 39.56, a P/E/G ratio of 1.81 and a beta of 1.45. The company’s fifty day moving average is $173.35 and its two-hundred day moving average is $168.83. Universal Display has a 1 year low of $125.98 and a 1 year high of $194.84.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, February 22nd. The semiconductor company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.11. The company had revenue of $158.32 million for the quarter, compared to analysts’ expectations of $161.08 million. Universal Display had a net margin of 35.22% and a return on equity of 14.85%. Universal Display’s revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.36 EPS. Sell-side analysts predict that Universal Display will post 4.72 EPS for the current year.

Hedge Funds Weigh In On Universal Display

Institutional investors and hedge funds have recently made changes to their positions in the business. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Universal Display during the 4th quarter valued at approximately $25,000. Principal Securities Inc. purchased a new position in shares of Universal Display during the 4th quarter valued at approximately $34,000. University of Texas Texas AM Investment Managment Co. purchased a new position in shares of Universal Display during the 4th quarter valued at approximately $35,000. Cape Investment Advisory Inc. boosted its stake in shares of Universal Display by 1,977.8% during the 4th quarter. Cape Investment Advisory Inc. now owns 187 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 178 shares during the last quarter. Finally, Orion Capital Management LLC purchased a new position in shares of Universal Display during the 3rd quarter valued at approximately $31,000. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

About Universal Display

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 in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.