Universal Display (NASDAQ:OLED) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Universal Display (NASDAQ:OLED) in a research report report published on Friday morning, Benzinga reports. They currently have a $198.00 target price on the semiconductor company’s stock.

Several other research analysts also recently issued reports on OLED. Oppenheimer restated an outperform rating and set a $200.00 price objective (down previously from $210.00) on shares of Universal Display in a report on Friday, February 23rd. Citigroup restated a neutral rating and set a $180.00 price objective (up previously from $161.00) on shares of Universal Display in a report on Friday, January 19th. Finally, TD Cowen boosted their price objective on shares of Universal Display from $165.00 to $210.00 and gave the stock an outperform rating in a report on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Universal Display has an average rating of Moderate Buy and an average target price of $199.86.

Universal Display Price Performance

Universal Display stock opened at $176.29 on Friday. The firm has a market cap of $8.36 billion, a price-to-earnings ratio of 38.32, a P/E/G ratio of 1.85 and a beta of 1.44. Universal Display has a fifty-two week low of $133.67 and a fifty-two week high of $194.84. The firm has a fifty day moving average price of $163.34 and a two-hundred day moving average price of $169.23.

Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, May 2nd. The semiconductor company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.14. The firm had revenue of $165.26 million during the quarter, compared to analyst estimates of $150.75 million. Universal Display had a net margin of 36.00% and a return on equity of 15.57%. The business’s revenue was up 26.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.83 EPS. As a group, sell-side analysts expect that Universal Display will post 4.74 earnings per share for the current year.

Universal Display Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a yield of 0.91%. Universal Display’s payout ratio is currently 34.78%.

Institutional Trading of Universal Display

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Peapack Gladstone Financial Corp grew its stake in Universal Display by 1.8% during the fourth quarter. Peapack Gladstone Financial Corp now owns 3,367 shares of the semiconductor company’s stock worth $643,000 after buying an additional 60 shares during the last quarter. 1492 Capital Management LLC grew its stake in Universal Display by 0.8% during the fourth quarter. 1492 Capital Management LLC now owns 9,543 shares of the semiconductor company’s stock worth $1,825,000 after buying an additional 79 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in Universal Display by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 20,516 shares of the semiconductor company’s stock worth $3,221,000 after buying an additional 100 shares during the last quarter. Spire Wealth Management grew its stake in Universal Display by 11.1% during the first quarter. Spire Wealth Management now owns 1,000 shares of the semiconductor company’s stock worth $168,000 after buying an additional 100 shares during the last quarter. Finally, CWM LLC grew its stake in Universal Display by 21.0% during the fourth quarter. CWM LLC now owns 606 shares of the semiconductor company’s stock worth $116,000 after buying an additional 105 shares during the last quarter. Institutional investors own 78.19% of the company’s stock.

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.