Universal Display (NASDAQ:OLED) Price Target Lowered to $215.00 at Needham & Company LLC

Universal Display (NASDAQ:OLED) had its target price decreased by Needham & Company LLC from $242.00 to $215.00 in a research note issued to investors on Thursday, Benzinga reports. Needham & Company LLC currently has a buy rating on the semiconductor company’s stock.

Several other brokerages have also commented on OLED. Roth Mkm raised their price objective on Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Oppenheimer boosted their target price on shares of Universal Display from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 3rd. Susquehanna raised their price target on shares of Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. TD Cowen reduced their target price on Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a report on Thursday. Finally, The Goldman Sachs Group raised their price objective on shares of Universal Display from $208.00 to $243.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Universal Display currently has an average rating of “Moderate Buy” and a consensus price target of $215.63.

Universal Display Trading Up 1.5 %

Universal Display stock traded up $2.75 during mid-day trading on Thursday, hitting $183.07. The company had a trading volume of 278,816 shares, compared to its average volume of 367,547. The company has a market capitalization of $8.69 billion, a price-to-earnings ratio of 36.21, a P/E/G ratio of 2.17 and a beta of 1.42. The company’s fifty day moving average is $201.79 and its 200-day moving average is $193.89. Universal Display has a 12-month low of $138.60 and a 12-month high of $237.00.

Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.20 by $0.20. The company had revenue of $161.63 million for the quarter, compared to analyst estimates of $165.28 million. Universal Display had a net margin of 36.98% and a return on equity of 16.01%. The firm’s revenue was up 14.6% on a year-over-year basis. During the same quarter last year, the business earned $1.08 earnings per share. As a group, sell-side analysts expect that Universal Display will post 4.81 EPS for the current fiscal year.

Universal Display Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a dividend of $0.40 per share. The ex-dividend date is Tuesday, December 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.87%. Universal Display’s payout ratio is 32.13%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in OLED. Vanguard Group Inc. raised its holdings in shares of Universal Display by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 4,567,374 shares of the semiconductor company’s stock valued at $769,374,000 after purchasing an additional 50,233 shares in the last quarter. Primecap Management Co. CA increased its holdings in shares of Universal Display by 0.4% in the 2nd quarter. Primecap Management Co. CA now owns 1,895,017 shares of the semiconductor company’s stock valued at $398,427,000 after acquiring an additional 7,435 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Universal Display during the second quarter worth approximately $127,668,000. Van ECK Associates Corp increased its stake in Universal Display by 27.2% in the third quarter. Van ECK Associates Corp now owns 507,440 shares of the semiconductor company’s stock valued at $101,914,000 after purchasing an additional 108,394 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Universal Display by 27.3% in the second quarter. Dimensional Fund Advisors LP now owns 469,570 shares of the semiconductor company’s stock valued at $98,725,000 after purchasing an additional 100,809 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.