Universal Display (NASDAQ:OLED) Given New $250.00 Price Target at Oppenheimer

Universal Display (NASDAQ:OLED) had its price target hoisted by equities researchers at Oppenheimer from $200.00 to $250.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the semiconductor company’s stock. Oppenheimer’s target price suggests a potential upside of 14.69% from the stock’s previous close.

Separately, Needham & Company LLC upped their price target on Universal Display from $198.00 to $242.00 and gave the stock a “buy” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $213.29.

Universal Display Trading Up 2.1 %

Shares of NASDAQ OLED opened at $217.98 on Wednesday. Universal Display has a twelve month low of $133.67 and a twelve month high of $219.31. The stock has a 50 day moving average of $185.88 and a two-hundred day moving average of $177.50. The stock has a market cap of $10.34 billion, a P/E ratio of 47.39, a P/E/G ratio of 2.31 and a beta of 1.42.

Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.05 by $0.14. Universal Display had a return on equity of 15.57% and a net margin of 36.00%. The business had revenue of $165.26 million during the quarter, compared to analysts’ expectations of $150.75 million. During the same quarter in the prior year, the business earned $0.83 earnings per share. The company’s quarterly revenue was up 26.7% compared to the same quarter last year. As a group, research analysts predict that Universal Display will post 4.75 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Julia J. Brown sold 10,358 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $175.00, for a total transaction of $1,812,650.00. Following the transaction, the executive vice president now owns 56,624 shares of the company’s stock, valued at $9,909,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Universal Display news, SVP Mauro Premutico sold 8,202 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $176.82, for a total value of $1,450,277.64. Following the sale, the senior vice president now owns 28,743 shares of the company’s stock, valued at $5,082,337.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Julia J. Brown sold 10,358 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $175.00, for a total value of $1,812,650.00. Following the completion of the sale, the executive vice president now directly owns 56,624 shares in the company, valued at approximately $9,909,200. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Universal Display

Several large investors have recently bought and sold shares of OLED. Norges Bank acquired a new stake in Universal Display in the fourth quarter valued at $101,088,000. Janus Henderson Group PLC grew its holdings in Universal Display by 66.6% in the first quarter. Janus Henderson Group PLC now owns 434,029 shares of the semiconductor company’s stock valued at $73,099,000 after purchasing an additional 173,496 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Universal Display in the fourth quarter valued at $29,797,000. TimesSquare Capital Management LLC grew its holdings in Universal Display by 327.5% in the fourth quarter. TimesSquare Capital Management LLC now owns 198,899 shares of the semiconductor company’s stock valued at $38,041,000 after purchasing an additional 152,374 shares during the last quarter. Finally, Crestwood Advisors Group LLC acquired a new stake in shares of Universal Display during the third quarter valued at $20,936,000. 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.