Universal Display (NASDAQ:OLED) Price Target Cut to $140.00

Universal Display (NASDAQ:OLEDGet Rating) had its target price lowered by investment analysts at DA Davidson from $165.00 to $140.00 in a research report issued on Tuesday, The Fly reports. DA Davidson’s price target would indicate a potential upside of 21.88% from the stock’s previous close.

A number of other research firms have also weighed in on OLED. Bank of America lowered shares of Universal Display from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $190.00 to $135.00 in a research report on Wednesday, June 29th. StockNews.com began coverage on shares of Universal Display in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Needham & Company LLC dropped their price target on shares of Universal Display from $195.00 to $165.00 in a research report on Friday, May 6th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $183.25.

Universal Display Trading Up 5.7 %

Shares of OLED stock opened at $114.87 on Tuesday. Universal Display has a 12 month low of $98.71 and a 12 month high of $237.00. The stock has a market cap of $5.42 billion, a P/E ratio of 29.99, a P/E/G ratio of 1.21 and a beta of 1.46. The company has a 50 day simple moving average of $114.17 and a two-hundred day simple moving average of $136.85.

Universal Display (NASDAQ:OLEDGet Rating) last announced its earnings results on Thursday, May 5th. The semiconductor company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.10. Universal Display had a net margin of 32.02% and a return on equity of 17.14%. The business had revenue of $150.50 million during the quarter, compared to analysts’ expectations of $143.81 million. During the same period in the prior year, the company earned $1.08 earnings per share. The firm’s revenue was up 12.3% on a year-over-year basis. As a group, equities analysts forecast that Universal Display will post 4.45 earnings per share for the current year.

Hedge Funds Weigh In On Universal Display

A number of hedge funds and other institutional investors have recently modified their holdings of OLED. Russell Investments Group Ltd. boosted its position in shares of Universal Display by 38.8% during the fourth quarter. Russell Investments Group Ltd. now owns 15,639 shares of the semiconductor company’s stock worth $2,578,000 after acquiring an additional 4,368 shares during the last quarter. National Bank of Canada FI bought a new position in Universal Display during the fourth quarter valued at $110,000. New York State Teachers Retirement System lifted its position in Universal Display by 12.1% during the fourth quarter. New York State Teachers Retirement System now owns 44,140 shares of the semiconductor company’s stock valued at $7,284,000 after purchasing an additional 4,751 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Universal Display by 4.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 5,509 shares of the semiconductor company’s stock valued at $909,000 after purchasing an additional 259 shares during the last quarter. Finally, State of Michigan Retirement System lifted its position in Universal Display by 0.9% during the fourth quarter. State of Michigan Retirement System now owns 10,998 shares of the semiconductor company’s stock valued at $1,815,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 71.15% of the company’s stock.

About Universal Display

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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. It owns, exclusively licenses, or has sole rights to sublicense approximately 5,500 issued and pending patents worldwide.

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