Oppenheimer Lowers Universal Display (NASDAQ:OLED) Price Target to $220.00

Universal Display (NASDAQ:OLED) had its target price dropped by stock analysts at Oppenheimer from $240.00 to $220.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the semiconductor company’s stock. Oppenheimer’s price target would suggest a potential upside of 20.50% from the stock’s previous close.

OLED has been the subject of several other research reports. Susquehanna boosted their price target on shares of Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Needham & Company LLC dropped their target price on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a report on Thursday. The Goldman Sachs Group upped their target price on shares of Universal Display from $208.00 to $243.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Roth Mkm upped their target price on shares of Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, TD Cowen dropped their target price 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 research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $215.63.

Universal Display Price Performance

NASDAQ OLED traded down $20.59 on Thursday, hitting $182.57. The company had a trading volume of 669,751 shares, compared to its average volume of 365,342. The company has a market capitalization of $8.66 billion, a PE ratio of 39.28, a PEG ratio of 2.16 and a beta of 1.42. The company’s fifty day moving average price is $201.79 and its 200-day moving average price is $193.89. Universal Display has a 12-month low of $133.67 and a 12-month high of $237.00.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.20 by $0.20. The company had revenue of $161.63 million during the quarter, compared to analyst estimates of $165.28 million. Universal Display had a net margin of 35.74% and a return on equity of 15.25%. The firm’s revenue was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.08 EPS. On average, sell-side analysts anticipate that Universal Display will post 4.81 EPS for the current year.

Institutional Investors Weigh In On Universal Display

Hedge funds have recently modified their holdings of the company. State of Michigan Retirement System lifted its position in Universal Display by 2.9% in the first quarter. State of Michigan Retirement System now owns 10,705 shares of the semiconductor company’s stock valued at $1,803,000 after buying an additional 300 shares during the last quarter. Private Advisor Group LLC lifted its position in Universal Display by 133.4% in the first quarter. Private Advisor Group LLC now owns 5,513 shares of the semiconductor company’s stock valued at $929,000 after buying an additional 3,151 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Universal Display in the first quarter valued at about $714,000. Geneos Wealth Management Inc. lifted its position in Universal Display by 210.7% in the first quarter. Geneos Wealth Management Inc. now owns 233 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 158 shares during the last quarter. Finally, Texas Permanent School Fund Corp lifted its position in Universal Display by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 38,131 shares of the semiconductor company’s stock valued at $6,423,000 after buying an additional 493 shares during the last quarter. Hedge funds and other institutional investors 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.