Needham & Company LLC Reiterates Buy Rating for Universal Display (OLED)

Universal Display (NASDAQ:OLED)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a research note issued on Friday, MarketBeat.com reports. They currently have a $200.00 price objective on the semiconductor company’s stock, up from their previous price objective of $140.00. Needham & Company LLC’s price target suggests a potential upside of 17.42% from the company’s previous close.

Several other research firms also recently weighed in on OLED. Deutsche Bank upped their price target on shares of Universal Display to $140.00 in a research report on Friday, February 22nd. Zacks Investment Research upgraded shares of Universal Display from a “hold” rating to a “buy” rating and set a $174.00 price target for the company in a research report on Tuesday, March 26th. Roth Capital upped their price target on shares of Universal Display from $128.00 to $172.00 and gave the stock a “buy” rating in a research report on Tuesday, February 26th. ValuEngine upgraded shares of Universal Display from a “hold” rating to a “buy” rating in a research report on Saturday, February 23rd. Finally, BidaskClub upgraded shares of Universal Display from a “hold” rating to a “buy” rating in a research report on Thursday, January 17th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $157.09.

Shares of Universal Display stock opened at $170.33 on Friday. The stock has a market capitalization of $8.03 billion, a price-to-earnings ratio of 137.36, a PEG ratio of 2.62 and a beta of 1.41. Universal Display has a fifty-two week low of $78.75 and a fifty-two week high of $190.00.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.40. The business had revenue of $87.80 million during the quarter, compared to the consensus estimate of $64.59 million. Universal Display had a net margin of 23.78% and a return on equity of 8.85%. The company’s revenue was up 101.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.13 earnings per share. Sell-side analysts expect that Universal Display will post 2.03 EPS for the current year.

In related news, Director Lawrence Lacerte sold 6,250 shares of the company’s stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $145.52, for a total transaction of $909,500.00. Following the completion of the sale, the director now owns 325,000 shares of the company’s stock, valued at approximately $47,294,000. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard C. Elias sold 1,250 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $153.38, for a total transaction of $191,725.00. Following the sale, the director now directly owns 1,250 shares of the company’s stock, valued at approximately $191,725. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,039 shares of company stock valued at $3,907,465. 4.00% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ropes Wealth Advisors LLC purchased a new stake in Universal Display during the 4th quarter valued at about $25,000. Pearl River Capital LLC grew its stake in shares of Universal Display by 251.4% in the 1st quarter. Pearl River Capital LLC now owns 390 shares of the semiconductor company’s stock valued at $60,000 after buying an additional 279 shares during the period. Sontag Advisory LLC purchased a new stake in shares of Universal Display in the 4th quarter valued at approximately $37,000. Carroll Financial Associates Inc. purchased a new stake in shares of Universal Display in the 4th quarter valued at approximately $42,000. Finally, Guidant Wealth Advisors purchased a new stake in shares of Universal Display in the 1st quarter valued at approximately $84,000. 85.60% of the stock is owned by 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 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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