Needham & Company LLC Reaffirms “Buy” Rating for Universal Display (NASDAQ:OLED)

Universal Display (NASDAQ:OLED)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a research note issued on Thursday,Benzinga reports. They presently have a $215.00 price target on the semiconductor company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 46.70% from the stock’s current price.

OLED has been the subject of a number of other reports. Oppenheimer lowered their price objective on Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, January 2nd. TD Cowen decreased their price objective on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $207.86.

Universal Display Stock Up 0.4 %

Shares of OLED opened at $146.56 on Thursday. The company has a market cap of $6.96 billion, a P/E ratio of 29.43, a PEG ratio of 1.62 and a beta of 1.40. Universal Display has a fifty-two week low of $143.25 and a fifty-two week high of $237.00. The firm’s 50 day moving average price is $159.23 and its 200 day moving average price is $187.23.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.21. The business had revenue of $161.63 million for the quarter, compared to analyst estimates of $165.28 million. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. The company’s revenue was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.08 earnings per share. Research analysts forecast that Universal Display will post 4.77 earnings per share for the current year.

Insider Buying and Selling at Universal Display

In other news, Director Lawrence Lacerte bought 742 shares of Universal Display stock in a transaction dated Monday, November 4th. The stock was acquired at an average cost of $180.89 per share, with a total value of $134,220.38. Following the acquisition, the director now owns 122,372 shares of the company’s stock, valued at approximately $22,135,871.08. This trade represents a 0.61 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 1.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Glenmede Trust Co. NA grew its position in shares of Universal Display by 1.6% during the third quarter. Glenmede Trust Co. NA now owns 6,046 shares of the semiconductor company’s stock worth $1,269,000 after acquiring an additional 97 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Universal Display by 8.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 52,713 shares of the semiconductor company’s stock worth $11,064,000 after purchasing an additional 4,269 shares during the period. Montanaro Asset Management Ltd grew its position in Universal Display by 217.4% during the 3rd quarter. Montanaro Asset Management Ltd now owns 63,260 shares of the semiconductor company’s stock worth $13,278,000 after purchasing an additional 43,330 shares during the last quarter. Cerity Partners LLC increased its stake in Universal Display by 385.2% in the third quarter. Cerity Partners LLC now owns 8,588 shares of the semiconductor company’s stock valued at $1,803,000 after purchasing an additional 6,818 shares during the period. Finally, ProShare Advisors LLC raised its holdings in shares of Universal Display by 117.2% in the second quarter. ProShare Advisors LLC now owns 18,762 shares of the semiconductor company’s stock valued at $3,945,000 after buying an additional 10,122 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.