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

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Universal Display (NASDAQ:OLED)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a note issued to investors 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 price target suggests a potential upside of 5.20% from the company’s previous close.

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

Shares of NASDAQ:OLED opened at $199.62 on Friday. Universal Display has a 12-month low of $78.78 and a 12-month high of $201.23. The firm 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 firm has a 50 day moving average of $173.39.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $87.80 million during the quarter, compared to the consensus estimate of $64.59 million. During the same period in the previous year, the company posted $0.13 earnings per share. Universal Display’s revenue for the quarter was up 101.4% on a year-over-year basis. As a group, equities analysts expect that Universal Display will post 2.44 EPS for the current fiscal year.

In related news, CFO Sidney D. Rosenblatt sold 33,930 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $182.23, for a total transaction of $6,183,063.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven V. Abramson sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $179.64, for a total value of $5,389,200.00. The disclosure for this sale can be found here. Insiders sold 110,750 shares of company stock valued at $19,581,068 over the last 90 days. Company insiders own 3.70% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its position in shares of Universal Display by 14.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,671 shares of the semiconductor company’s stock worth $625,000 after purchasing an additional 822 shares in the last quarter. California State Teachers Retirement System increased its position in shares of Universal Display by 2.3% during the fourth quarter. California State Teachers Retirement System now owns 67,016 shares of the semiconductor company’s stock worth $6,271,000 after purchasing an additional 1,538 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of Universal Display during the first quarter worth approximately $317,000. Geode Capital Management LLC increased its position in shares of Universal Display by 8.1% during the fourth quarter. Geode Capital Management LLC now owns 431,907 shares of the semiconductor company’s stock worth $40,413,000 after purchasing an additional 32,314 shares in the last quarter. Finally, Sontag Advisory LLC purchased a new stake in shares of Universal Display during the fourth quarter worth approximately $37,000. Hedge funds and other institutional investors own 75.96% 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 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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