Universal Display’s (OLED) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Universal Display (NASDAQ:OLED) in a research report sent to investors on Friday, Benzinga reports. The brokerage currently has a $198.00 target price on the semiconductor company’s stock.

A number of other research analysts have also weighed in on OLED. Oppenheimer reissued an outperform rating and set a $200.00 price target (down previously from $210.00) on shares of Universal Display in a research note on Friday, February 23rd. Citigroup reissued a neutral rating and set a $180.00 price target (up previously from $161.00) on shares of Universal Display in a research note on Friday, January 19th. Finally, TD Cowen upped their price objective on 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 assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $199.86.

Universal Display Trading Up 9.3 %

Shares of Universal Display stock traded up $14.50 during trading hours on Friday, reaching $170.82. 736,345 shares of the company’s stock were exchanged, compared to its average volume of 256,763. Universal Display has a 52-week low of $131.00 and a 52-week high of $194.84. The firm has a market capitalization of $8.10 billion, a price-to-earnings ratio of 37.13, a price-to-earnings-growth ratio of 1.70 and a beta of 1.44. The company has a fifty day moving average of $163.28 and a 200-day moving average of $169.01.

Universal Display (NASDAQ:OLED) last issued its quarterly 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. Universal Display had a return on equity of 15.84% and a net margin of 36.00%. The company had revenue of $165.26 million for the quarter, compared to analyst estimates of $150.75 million. During the same quarter in the prior year, the company posted $0.83 EPS. The business’s revenue for the quarter was up 26.7% compared to the same quarter last year. On average, equities research analysts anticipate that Universal Display will post 4.72 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.94%. Universal Display’s payout ratio is 34.78%.

Institutional Trading of Universal Display

Several large investors have recently added to or reduced their stakes in OLED. Benjamin F. Edwards & Company Inc. acquired a new stake in Universal Display in the 4th quarter valued at $25,000. Orion Capital Management LLC acquired a new stake in Universal Display in the 3rd quarter valued at $31,000. Principal Securities Inc. acquired a new stake in Universal Display in the 4th quarter valued at $34,000. Tsfg LLC acquired a new stake in Universal Display in the 1st quarter valued at $34,000. Finally, University of Texas Texas AM Investment Managment Co. acquired a new stake in Universal Display in the 4th quarter valued at $35,000. 78.19% of the stock is currently owned by institutional investors and hedge funds.

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.