Oppenheimer Issues Pessimistic Forecast for Universal Display (NASDAQ:OLED) Stock Price

Universal Display (NASDAQ:OLED) had its target price dropped by equities researchers at Oppenheimer from $220.00 to $200.00 in a research report issued on Thursday, MarketBeat reports. The brokerage currently has an “outperform” rating on the semiconductor company’s stock. Oppenheimer’s price objective would indicate a potential upside of 32.00% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Needham & Company LLC reduced their target price on Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. TD Cowen cut their price objective on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Universal Display currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.86.

Universal Display Trading Up 1.3 %

Shares of OLED stock opened at $151.52 on Thursday. The company has a market capitalization of $7.19 billion, a price-to-earnings ratio of 30.43, a PEG ratio of 1.74 and a beta of 1.40. The firm has a 50-day moving average price of $165.06 and a 200 day moving average price of $190.35. Universal Display has a twelve month low of $145.26 and a twelve month high of $237.00.

Universal Display (NASDAQ:OLED) last announced its 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. The firm had revenue of $161.63 million for the quarter, compared to analyst estimates of $165.28 million. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. Universal Display’s revenue was up 14.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.08 earnings per share. As a group, research analysts predict that Universal Display will post 4.8 earnings per share for the current year.

Insider Transactions at Universal Display

In related news, Director Lawrence Lacerte bought 742 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was bought at an average price of $180.89 per share, with a total value of $134,220.38. Following the completion of the transaction, the director now directly owns 122,372 shares of the company’s stock, valued at approximately $22,135,871.08. This represents a 0.61 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Universal Display

A number of large investors have recently added to or reduced their stakes in the company. Assetmark Inc. purchased a new position in Universal Display in the 3rd quarter valued at about $29,000. Brooklyn Investment Group purchased a new position in Universal Display in the third quarter valued at about $30,000. V Square Quantitative Management LLC acquired a new stake in Universal Display during the 3rd quarter valued at approximately $31,000. True Wealth Design LLC purchased a new stake in Universal Display during the 3rd quarter worth approximately $36,000. Finally, Nisa Investment Advisors LLC raised its position in shares of Universal Display by 60.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company’s stock valued at $36,000 after purchasing an additional 65 shares in the last quarter. 78.19% of the stock is owned by institutional investors and hedge funds.

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.