Needham & Company LLC Reaffirms Buy Rating for Universal Display (NASDAQ:OLED)

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

Several other research firms have also recently commented on OLED. TD Cowen cut their price target on Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Oppenheimer cut their target price on Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, January 2nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Universal Display presently has an average rating of “Moderate Buy” and a consensus price target of $207.86.

Universal Display Price Performance

Shares of Universal Display stock opened at $149.24 on Thursday. The business has a 50 day simple moving average of $157.11 and a two-hundred day simple moving average of $186.25. Universal Display has a 12 month low of $143.25 and a 12 month high of $237.00. The stock has a market capitalization of $7.08 billion, a P/E ratio of 29.97, a PEG ratio of 1.62 and a beta of 1.40.

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

Insider Transactions at Universal Display

In other news, Director Lawrence Lacerte purchased 742 shares of the stock in a transaction dated Monday, November 4th. The stock was acquired at an average cost of $180.89 per share, for a total transaction of $134,220.38. Following the completion of the transaction, the director now directly owns 122,372 shares in the company, valued at approximately $22,135,871.08. This represents a 0.61 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Assetmark Inc. purchased a new position in Universal Display in the third quarter valued at $29,000. Brooklyn Investment Group purchased a new position in Universal Display in the third quarter valued at $30,000. V Square Quantitative Management LLC purchased a new position in Universal Display in the third quarter valued at $31,000. True Wealth Design LLC purchased a new position in Universal Display in the third quarter valued at $36,000. Finally, Nisa Investment Advisors LLC boosted its holdings in Universal Display by 60.2% in the third 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 during the period. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

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.