Oppenheimer Lowers Universal Display (NASDAQ:OLED) Price Target to $220.00

Universal Display (NASDAQ:OLED) had its price objective cut by analysts at Oppenheimer from $240.00 to $220.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the semiconductor company’s stock. Oppenheimer’s target price suggests a potential upside of 20.50% from the company’s current price.

Several other analysts have also recently weighed in on OLED. The Goldman Sachs Group raised their target price on shares of Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Susquehanna increased their price target on shares of Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Roth Mkm increased their price target on shares of Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Needham & Company LLC dropped their price target on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, TD Cowen dropped their price target on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Universal Display has an average rating of “Moderate Buy” and an average target price of $215.63.

Universal Display Trading Down 10.1 %

NASDAQ:OLED traded down $20.59 during mid-day trading on Thursday, hitting $182.57. The stock had a trading volume of 669,751 shares, compared to its average volume of 365,342. The stock has a 50-day simple moving average of $201.79 and a two-hundred day simple moving average of $193.89. The company has a market capitalization of $8.66 billion, a PE ratio of 39.28, a PEG ratio of 2.16 and a beta of 1.42. Universal Display has a twelve month low of $133.67 and a twelve month high of $237.00.

Universal Display (NASDAQ:OLED) last issued its earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.20. The firm had revenue of $161.63 million for the quarter, compared to analysts’ expectations of $165.28 million. Universal Display had a net margin of 35.74% and a return on equity of 15.25%. The firm’s revenue was up 14.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.08 earnings per share. Sell-side analysts predict that Universal Display will post 4.81 EPS for the current fiscal year.

Institutional Investors Weigh In On Universal Display

A number of hedge funds and other institutional investors have recently bought and sold shares of OLED. State of Michigan Retirement System raised its stake in shares of Universal Display by 2.9% during the 1st quarter. State of Michigan Retirement System now owns 10,705 shares of the semiconductor company’s stock worth $1,803,000 after buying an additional 300 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of Universal Display by 133.4% during the 1st quarter. Private Advisor Group LLC now owns 5,513 shares of the semiconductor company’s stock worth $929,000 after buying an additional 3,151 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Universal Display during the 1st quarter worth $714,000. Geneos Wealth Management Inc. raised its stake in shares of Universal Display by 210.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 233 shares of the semiconductor company’s stock worth $39,000 after buying an additional 158 shares during the last quarter. Finally, Texas Permanent School Fund Corp raised its stake in shares of Universal Display by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 38,131 shares of the semiconductor company’s stock worth $6,423,000 after buying an additional 493 shares during the last quarter. 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.