Needham & Company LLC Issues Pessimistic Forecast for Universal Display (NASDAQ:OLED) Stock Price

Universal Display (NASDAQ:OLED) had its target price dropped by Needham & Company LLC from $242.00 to $215.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 5.83% from the company’s current price.

Several other equities research analysts have also commented on the stock. Oppenheimer boosted their price objective on shares of Universal Display from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 3rd. Roth Mkm upped their price objective on Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Susquehanna lifted their price objective on Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. The Goldman Sachs Group upped their target price on shares of Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, TD Cowen lowered their price target on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a report on Thursday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $219.38.

Universal Display Trading Down 5.0 %

Shares of Universal Display stock opened at $203.16 on Thursday. The company has a 50-day moving average of $201.79 and a two-hundred day moving average of $193.89. Universal Display has a 12-month low of $133.67 and a 12-month high of $237.00. The stock has a market cap of $9.64 billion, a PE ratio of 44.17, a price-to-earnings-growth ratio of 2.16 and a beta of 1.42.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.20. The firm had revenue of $161.63 million during the quarter, compared to the consensus estimate of $165.28 million. Universal Display had a return on equity of 15.25% and a net margin of 35.74%. Universal Display’s quarterly revenue was up 14.6% on a year-over-year basis. During the same period last year, the business posted $1.08 EPS. On average, sell-side analysts forecast that Universal Display will post 4.81 EPS for the current fiscal year.

Hedge Funds Weigh In On Universal Display

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Universal Display in the 2nd quarter valued at $127,668,000. Raymond James & Associates grew its stake in shares of Universal Display by 629.9% in the third quarter. Raymond James & Associates now owns 269,414 shares of the semiconductor company’s stock valued at $56,550,000 after buying an additional 232,503 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Universal Display by 66.6% during the 1st quarter. Janus Henderson Group PLC now owns 434,029 shares of the semiconductor company’s stock valued at $73,099,000 after buying an additional 173,496 shares during the period. CloudAlpha Capital Management Limited Hong Kong acquired a new position in Universal Display during the 2nd quarter worth approximately $34,558,000. Finally, Strategic Financial Concepts LLC purchased a new position in Universal Display in the 2nd quarter worth approximately $23,500,000. Institutional investors and hedge funds own 78.19% of the company’s stock.

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.