Universal Display (NASDAQ:OLED) Earns Buy Rating from Needham & Company LLC

Universal Display (NASDAQ:OLED)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports. They presently have a $215.00 target price on the semiconductor company’s stock. Needham & Company LLC’s price target points to a potential upside of 44.06% from the company’s previous close.

Other analysts have also recently issued research reports about the company. TD Cowen cut 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, October 31st. Oppenheimer cut their target price on Universal Display from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, January 2nd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $207.86.

Universal Display Price Performance

Shares of NASDAQ OLED opened at $149.24 on Thursday. The company has a market capitalization of $7.08 billion, a price-to-earnings ratio of 29.97, a price-to-earnings-growth ratio of 1.62 and a beta of 1.40. The business has a 50-day moving average of $157.11 and a two-hundred day moving average of $186.25. Universal Display has a 1 year low of $143.25 and a 1 year high of $237.00.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.21. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. The company had revenue of $161.63 million during the quarter, compared to the consensus estimate of $165.28 million. During the same period in the previous year, the business earned $1.08 EPS. Universal Display’s revenue for the quarter was up 14.6% on a year-over-year basis. As a group, equities research analysts expect that Universal Display will post 4.77 earnings per share for the current year.

Insider Buying and Selling at Universal Display

In other Universal Display news, Director Lawrence Lacerte acquired 742 shares of the stock in a transaction on Monday, November 4th. The shares were bought at an average price of $180.89 per share, with a total value of $134,220.38. Following the acquisition, the director now owns 122,372 shares of the company’s stock, valued at $22,135,871.08. This trade represents a 0.61 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Universal Display

Institutional investors have recently added to or reduced their stakes in the business. Assetmark Inc. purchased a new stake in Universal Display in the 3rd quarter valued at approximately $29,000. Brooklyn Investment Group purchased a new stake in Universal Display in the 3rd quarter valued at approximately $30,000. V Square Quantitative Management LLC purchased a new stake in shares of Universal Display during the 3rd quarter worth approximately $31,000. True Wealth Design LLC purchased a new stake in shares of Universal Display during the 3rd quarter worth approximately $36,000. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Universal Display by 60.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company’s stock worth $36,000 after acquiring an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

About Universal Display

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.