Universal Display (NASDAQ:OLED) Rating Reiterated by Needham & Company LLC

Universal Display (NASDAQ:OLED)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a report issued on Friday, Marketbeat Ratings reports. They presently have a $210.00 price target on the semiconductor company’s stock, up from their previous price target of $200.00. Needham & Company LLC’s target price indicates a potential upside of 5.20% from the company’s previous close.

Other analysts also recently issued reports about the company. Oppenheimer lifted their target price on Costco Wholesale from $270.00 to $295.00 in a research report on Wednesday. Zacks Investment Research downgraded GenMark Diagnostics from a “hold” rating to a “sell” rating in a research report on Wednesday, April 24th. Susquehanna Bancshares reiterated a “neutral” rating and set a $180.00 target price on shares of Universal Display in a research report on Monday, April 29th. Citigroup reiterated a “buy” rating on shares of Healthequity in a research report on Friday, May 10th. Finally, Roth Capital set a $194.00 target price on Universal Display and gave the stock a “buy” rating in a research report on Friday, May 3rd. Five analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $168.22.

Shares of OLED opened at $199.62 on Friday. Universal Display has a 52-week low of $78.78 and a 52-week high of $201.23. The company has a market capitalization of $9.42 billion, a P/E ratio of 112.78, a PEG ratio of 2.72 and a beta of 1.55. The stock has a fifty day moving average of $173.39.

Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, May 2nd. The semiconductor company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.40. Universal Display had a return on equity of 12.35% and a net margin of 28.93%. The business had revenue of $87.80 million during the quarter, compared to the consensus estimate of $64.59 million. During the same period last year, the company earned $0.13 earnings per share. The business’s revenue for the quarter was up 101.4% compared to the same quarter last year. Sell-side analysts predict that Universal Display will post 2.44 EPS for the current fiscal year.

In other news, Director Rosemarie B. Greco sold 4,425 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $171.13, for a total transaction of $757,250.25. Following the transaction, the director now owns 6,793 shares in the company, valued at $1,162,486.09. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Janice K. Mahon sold 20,819 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $170.24, for a total value of $3,544,226.56. Following the transaction, the vice president now owns 37,039 shares in the company, valued at approximately $6,305,519.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 110,750 shares of company stock worth $19,581,068. Insiders own 3.70% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its stake in Universal Display by 14.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,671 shares of the semiconductor company’s stock valued at $625,000 after purchasing an additional 822 shares during the last quarter. California State Teachers Retirement System grew its stake in Universal Display by 2.3% in the fourth quarter. California State Teachers Retirement System now owns 67,016 shares of the semiconductor company’s stock valued at $6,271,000 after purchasing an additional 1,538 shares during the last quarter. EP Wealth Advisors LLC purchased a new position in Universal Display in the first quarter valued at about $317,000. Geode Capital Management LLC grew its stake in Universal Display by 8.1% in the fourth quarter. Geode Capital Management LLC now owns 431,907 shares of the semiconductor company’s stock valued at $40,413,000 after purchasing an additional 32,314 shares during the last quarter. Finally, Sontag Advisory LLC purchased a new position in Universal Display in the fourth quarter valued at about $37,000. Hedge funds and other institutional investors own 75.96% 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 21, 2019, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 5,000 issued and pending patents worldwide.

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Analyst Recommendations for Universal Display (NASDAQ:OLED)

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