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

Universal Display (NASDAQ:OLED) had its target price trimmed by Needham & Company LLC from $242.00 to $215.00 in a research note published on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

A number of other research analysts have also weighed in on OLED. Roth Mkm raised their price objective on Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. TD Cowen cut their price target on Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a report on Thursday. Oppenheimer upped their price objective on Universal Display from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, July 3rd. Susquehanna increased their target price on Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group boosted their price target on shares of Universal Display from $208.00 to $243.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $215.63.

Universal Display Trading Down 0.0 %

NASDAQ OLED opened at $180.25 on Thursday. Universal Display has a 12 month low of $138.60 and a 12 month high of $237.00. The stock has a market cap of $8.55 billion, a PE ratio of 36.19, a P/E/G ratio of 1.93 and a beta of 1.43. The stock’s 50 day moving average is $201.32 and its 200 day moving average is $193.94.

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, topping analysts’ consensus estimates of $1.20 by $0.20. The firm had revenue of $161.63 million during the quarter, compared to analyst estimates of $165.28 million. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. Universal Display’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.08 earnings per share. On average, analysts forecast that Universal Display will post 4.81 EPS for the current fiscal year.

Universal Display Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.60 annualized dividend and a yield of 0.89%. Universal Display’s payout ratio is presently 32.13%.

Institutional Investors Weigh In On Universal Display

Hedge funds and other institutional investors have recently modified their holdings of the business. State of Michigan Retirement System lifted its holdings in shares of Universal Display by 2.9% in 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 period. Private Advisor Group LLC lifted its position in shares of Universal Display by 133.4% in the 1st quarter. Private Advisor Group LLC now owns 5,513 shares of the semiconductor company’s stock worth $929,000 after purchasing an additional 3,151 shares during the period. GSA Capital Partners LLP bought a new position in shares of Universal Display during the first quarter valued at approximately $714,000. Geneos Wealth Management Inc. increased its holdings in Universal Display by 210.7% during the first quarter. Geneos Wealth Management Inc. now owns 233 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 158 shares during the period. Finally, Texas Permanent School Fund Corp lifted its holdings in Universal Display by 1.3% during the first 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 period. 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.