Universal Display (NASDAQ:OLED) PT Lowered to $140.00 at Needham & Company LLC

Universal Display (NASDAQ:OLEDGet Rating) had its target price lowered by equities research analysts at Needham & Company LLC from $165.00 to $140.00 in a report released on Tuesday, Stock Target Advisor reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 21.88% from the stock’s current price.

Several other analysts have also issued reports on OLED. Bank of America lowered Universal Display from a “buy” rating to a “neutral” rating and lowered their target price for the company from $190.00 to $135.00 in a research note on Wednesday, June 29th. DA Davidson lowered their target price on Universal Display from $165.00 to $140.00 in a research note on Tuesday. Finally, StockNews.com initiated coverage on Universal Display in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Universal Display presently has an average rating of “Moderate Buy” and an average price target of $183.25.

Universal Display Trading Up 5.7 %

OLED stock opened at $114.87 on Tuesday. The stock’s fifty day simple moving average is $114.17 and its two-hundred day simple moving average is $136.85. Universal Display has a 1-year low of $98.71 and a 1-year 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.

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

Institutional Trading of Universal Display

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC raised its stake in shares of Universal Display by 53.0% during the 1st quarter. CWM LLC now owns 387 shares of the semiconductor company’s stock valued at $65,000 after purchasing an additional 134 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Universal Display by 45.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,453 shares of the semiconductor company’s stock valued at $2,220,000 after purchasing an additional 4,233 shares during the period. Rhumbline Advisers raised its stake in shares of Universal Display by 2.2% during the 4th quarter. Rhumbline Advisers now owns 113,793 shares of the semiconductor company’s stock valued at $18,779,000 after purchasing an additional 2,403 shares during the period. Bank of Montreal Can raised its stake in shares of Universal Display by 1,828.0% during the 4th quarter. Bank of Montreal Can now owns 98,677 shares of the semiconductor company’s stock valued at $16,388,000 after purchasing an additional 93,559 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in shares of Universal Display during the 4th quarter valued at $10,187,000. 71.15% of the stock is currently owned by institutional investors.

About Universal Display

(Get Rating)

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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