Oppenheimer Has Lowered Expectations for Universal Display (NASDAQ:OLED) Stock Price

Universal Display (NASDAQ:OLED) had its price target lowered by investment analysts at Oppenheimer from $240.00 to $220.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the semiconductor company’s stock. Oppenheimer’s price target indicates a potential upside of 22.05% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Susquehanna increased their target price on shares of Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. TD Cowen reduced their target price on Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday. Roth Mkm raised their price target on Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. The Goldman Sachs Group upped their price objective on shares of Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, Needham & Company LLC lowered their target price on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a research note on Thursday. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Universal Display currently has an average rating of “Moderate Buy” and a consensus price target of $215.63.

Universal Display Stock Performance

Shares of NASDAQ OLED opened at $180.25 on Thursday. Universal Display has a 52-week low of $138.60 and a 52-week high of $237.00. The firm has a market capitalization of $8.55 billion, a price-to-earnings ratio of 36.19, a PEG ratio of 1.93 and a beta of 1.43. The stock has a 50 day moving average price of $201.32 and a 200 day moving average price of $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 the consensus estimate of $1.20 by $0.20. The business had revenue of $161.63 million during the quarter, compared to analysts’ expectations of $165.28 million. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.08 EPS. Analysts forecast that Universal Display will post 4.81 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OLED. Vanguard Group Inc. raised its stake in shares of Universal Display by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 4,567,374 shares of the semiconductor company’s stock valued at $769,374,000 after buying an additional 50,233 shares during the last quarter. Primecap Management Co. CA raised its position in Universal Display by 0.4% during the second quarter. Primecap Management Co. CA now owns 1,895,017 shares of the semiconductor company’s stock valued at $398,427,000 after acquiring an additional 7,435 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new position in Universal Display in the second quarter valued at approximately $127,668,000. Van ECK Associates Corp boosted its position in Universal Display by 27.2% in the 3rd quarter. Van ECK Associates Corp now owns 507,440 shares of the semiconductor company’s stock worth $101,914,000 after purchasing an additional 108,394 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Universal Display by 27.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 469,570 shares of the semiconductor company’s stock worth $98,725,000 after purchasing an additional 100,809 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors and hedge funds.

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 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.