TD Cowen Has Lowered Expectations for Universal Display (NASDAQ:OLED) Stock Price

Universal Display (NASDAQ:OLED) had its price target decreased by equities researchers at TD Cowen from $250.00 to $225.00 in a research note issued to investors on Thursday, Briefing.com reports. The firm presently has a “buy” rating on the semiconductor company’s stock. TD Cowen’s target price would indicate a potential upside of 10.75% from the stock’s current price.

Several other research analysts have also recently weighed in on the stock. Susquehanna upped their price target on shares of Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. The Goldman Sachs Group boosted their price target on Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Oppenheimer increased their price objective on Universal Display from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, July 3rd. Finally, Roth Mkm boosted their target price on Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Universal Display has a consensus rating of “Moderate Buy” and an average price target of $222.75.

Universal Display Stock Performance

Shares of NASDAQ OLED opened at $203.16 on Thursday. The firm has a 50 day moving average price of $201.79 and a 200 day moving average price of $193.89. The stock has a market cap of $9.64 billion, a P/E ratio of 44.17, a P/E/G ratio of 2.16 and a beta of 1.42. Universal Display has a 52-week low of $133.67 and a 52-week high of $237.00.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.04). Universal Display had a return on equity of 15.25% and a net margin of 35.74%. The business had revenue of $158.50 million during the quarter, compared to the consensus estimate of $159.46 million. During the same quarter last year, the company earned $1.04 earnings per share. The firm’s revenue was up 8.1% compared to the same quarter last year. Analysts predict that Universal Display will post 4.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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