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

Universal Display (NASDAQ:OLED)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a research report issued on Friday, Benzinga reports. They presently have a $198.00 price target on the semiconductor company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 15.91% from the stock’s current price.

OLED has been the subject of a number of other reports. Citigroup reaffirmed a “neutral” rating and set a $180.00 price target (up from $161.00) on shares of Universal Display in a report on Friday, January 19th. Oppenheimer reissued an “outperform” rating and set a $200.00 price target (down from $210.00) on shares of Universal Display in a research note on Friday, February 23rd. Finally, TD Cowen raised their price target on Universal Display from $165.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Universal Display currently has an average rating of “Moderate Buy” and a consensus price target of $199.86.

Universal Display Stock Up 9.3 %

NASDAQ:OLED opened at $170.82 on Friday. Universal Display has a 12-month low of $131.00 and a 12-month high of $194.84. The firm has a market capitalization of $8.10 billion, a PE ratio of 37.13, a price-to-earnings-growth ratio of 1.86 and a beta of 1.44. The firm has a 50-day moving average price of $163.28 and a 200 day moving average price of $169.05.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.14. Universal Display had a net margin of 36.00% and a return on equity of 15.84%. The firm had revenue of $165.26 million during the quarter, compared to analyst estimates of $150.75 million. During the same quarter in the prior year, the business posted $0.83 earnings per share. The company’s quarterly revenue was up 26.7% compared to the same quarter last year. On average, research analysts expect that Universal Display will post 4.74 EPS for the current year.

Institutional Investors Weigh In On Universal Display

Hedge funds have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC lifted its holdings in Universal Display by 7.6% during the third quarter. Commonwealth Equity Services LLC now owns 15,697 shares of the semiconductor company’s stock worth $2,464,000 after acquiring an additional 1,107 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in shares of Universal Display by 2.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 8,190 shares of the semiconductor company’s stock valued at $1,286,000 after purchasing an additional 162 shares during the period. Xponance Inc. raised its stake in shares of Universal Display by 3.7% during the 3rd quarter. Xponance Inc. now owns 7,838 shares of the semiconductor company’s stock valued at $1,230,000 after purchasing an additional 280 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in shares of Universal Display by 1.3% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 21,316 shares of the semiconductor company’s stock valued at $3,346,000 after purchasing an additional 282 shares during the period. Finally, Stratos Wealth Partners LTD. bought a new stake in shares of Universal Display during the 3rd quarter valued at $340,000. Institutional investors and hedge funds own 78.19% of the company’s stock.

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.