Universal Display (OLED) Price Target Increased to $145.00 by Analysts at Needham & Company LLC

Universal Display (NASDAQ:OLED) had its target price increased by stock analysts at Needham & Company LLC from $130.00 to $145.00 in a research report issued on Friday, Marketbeat reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s target price indicates a potential upside of 26.25% from the stock’s previous close.

OLED has been the topic of several other reports. Goldman Sachs Group set a $150.00 target price on Universal Display and gave the stock a “buy” rating in a report on Tuesday, May 29th. Roth Capital started coverage on Universal Display in a report on Monday, May 21st. They issued a “buy” rating and a $136.00 target price on the stock. ValuEngine raised Universal Display from a “sell” rating to a “hold” rating in a report on Tuesday, May 29th. Finally, BidaskClub raised Universal Display from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 10th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $174.80.

Shares of Universal Display traded up $13.70, hitting $114.85, during mid-day trading on Friday, according to Marketbeat. 4,419,552 shares of the stock traded hands, compared to its average volume of 876,578. Universal Display has a 52 week low of $78.75 and a 52 week high of $209.00. The firm has a market capitalization of $4.76 billion, a PE ratio of 64.43 and a beta of 1.44.

Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Thursday, August 9th. The semiconductor company reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.08. Universal Display had a return on equity of 11.63% and a net margin of 22.76%. The company had revenue of $56.15 million for the quarter, compared to analyst estimates of $49.64 million. During the same period in the previous year, the company posted $0.99 earnings per share. The firm’s revenue was down 45.2% on a year-over-year basis. research analysts predict that Universal Display will post 1.82 EPS for the current year.

In other news, Director Rosemarie B. Greco sold 3,750 shares of the business’s stock in a transaction on Thursday, June 7th. The stock was sold at an average price of $98.15, for a total value of $368,062.50. Following the completion of the transaction, the director now owns 10,700 shares in the company, valued at $1,050,205. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.00% of the company’s stock.

Several hedge funds have recently bought and sold shares of OLED. Guggenheim Capital LLC raised its stake in shares of Universal Display by 270.4% in the fourth quarter. Guggenheim Capital LLC now owns 8,964 shares of the semiconductor company’s stock worth $1,548,000 after purchasing an additional 6,544 shares during the last quarter. Trellus Management Company LLC purchased a new position in shares of Universal Display in the first quarter worth $404,000. NJ State Employees Deferred Compensation Plan purchased a new position in shares of Universal Display in the first quarter worth $505,000. American Assets Investment Management LLC purchased a new position in shares of Universal Display in the first quarter worth $354,000. Finally, General American Investors Co. Inc. raised its stake in shares of Universal Display by 16.5% in the first quarter. General American Investors Co. Inc. now owns 141,309 shares of the semiconductor company’s stock worth $14,272,000 after purchasing an additional 20,000 shares during the last quarter. Hedge funds and other institutional investors own 64.15% of the company’s stock.

Universal Display Company Profile

Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in flat panel displays and solid-state lighting applications. As of February 22, 2018, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 4,500 issued and pending patents worldwide.

Featured Story: Market Capitalization – What it Means for Investors

Analyst Recommendations for Universal Display (NASDAQ:OLED)

Receive News & Ratings for Universal Display Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Display and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit