Universal Display (NASDAQ:OLED) Price Target Lowered to $215.00 at Needham & Company LLC

Universal Display (NASDAQ:OLEDGet Free Report) had its target price dropped by investment analysts at Needham & Company LLC from $242.00 to $215.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price target points to a potential upside of 5.83% from the stock’s current price.

A number of other research analysts also recently commented on OLED. The Goldman Sachs Group increased their price objective on shares of Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Roth Mkm boosted their price objective on Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Oppenheimer increased their target price on Universal Display from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, July 3rd. Susquehanna boosted their price target on Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, TD Cowen reduced their price objective on Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $219.38.

Read Our Latest Report on OLED

Universal Display Price Performance

Shares of Universal Display stock opened at $203.16 on Thursday. Universal Display has a 1-year low of $133.67 and a 1-year high of $237.00. The business has a 50-day moving average of $201.79 and a 200-day moving average of $193.89. The company has a market capitalization of $9.64 billion, a PE ratio of 44.17, a P/E/G ratio of 2.16 and a beta of 1.42.

Universal Display (NASDAQ:OLEDGet Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20. Universal Display had a return on equity of 15.25% and a net margin of 35.74%. The firm had revenue of $161.63 million during the quarter, compared to analyst estimates of $165.28 million. During the same quarter last year, the firm earned $1.08 EPS. Universal Display’s quarterly revenue was up 14.6% on a year-over-year basis. On average, equities analysts expect that Universal Display will post 4.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC bought a new stake in Universal Display in the second quarter valued at $127,668,000. Raymond James & Associates boosted its stake in Universal Display by 629.9% during the 3rd quarter. Raymond James & Associates now owns 269,414 shares of the semiconductor company’s stock valued at $56,550,000 after purchasing an additional 232,503 shares during the period. Janus Henderson Group PLC grew its position in Universal Display by 66.6% in the 1st quarter. Janus Henderson Group PLC now owns 434,029 shares of the semiconductor company’s stock worth $73,099,000 after purchasing an additional 173,496 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of Universal Display in the second quarter valued at approximately $34,558,000. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Universal Display during the second quarter valued at approximately $23,500,000. Institutional investors and hedge funds own 78.19% of the company’s stock.

About Universal Display

(Get Free Report)

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.

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