Universal Display’s (OLED) Buy Rating Reiterated at Needham & Company LLC

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Needham & Company LLC restated their buy rating on shares of Universal Display (NASDAQ:OLED) in a research report report published on Friday, AnalystRatings.com reports. They currently have a $210.00 price target on the semiconductor company’s stock, up from their prior price target of $200.00.

OLED has been the subject of a number of other reports. Susquehanna Bancshares reissued a neutral rating and issued a $180.00 price target on shares of Universal Display in a report on Monday, April 29th. Citigroup reissued a buy rating on shares of Healthequity in a report on Friday, May 10th. Oppenheimer boosted their price target on Costco Wholesale from $270.00 to $295.00 in a report on Wednesday, July 10th. Roth Capital set a $194.00 price target on Universal Display and gave the stock a buy rating in a report on Friday, May 3rd. Finally, Zacks Investment Research cut GenMark Diagnostics from a hold rating to a sell rating in a report on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of Buy and an average target price of $168.22.

OLED opened at $199.62 on Friday. The business’s fifty day moving average price is $173.39. The stock has a market capitalization of $9.42 billion, a P/E ratio of 160.98, a price-to-earnings-growth ratio of 2.72 and a beta of 1.54. Universal Display has a one year low of $78.78 and a one year high of $201.23.

Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, May 2nd. The semiconductor company reported $0.66 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.40. Universal Display had a return on equity of 12.35% and a net margin of 28.93%. The company had revenue of $87.80 million for the quarter, compared to the consensus estimate of $64.59 million. During the same period in the previous year, the business earned $0.13 earnings per share. Universal Display’s quarterly revenue was up 101.4% compared to the same quarter last year. As a group, research analysts predict that Universal Display will post 2.44 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.40 annualized dividend and a yield of 0.20%. Universal Display’s payout ratio is currently 32.26%.

In other Universal Display news, CFO Sidney D. Rosenblatt sold 33,930 shares of the company’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $182.23, for a total transaction of $6,183,063.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Lawrence Lacerte sold 7,500 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $165.57, for a total value of $1,241,775.00. Following the sale, the director now owns 320,518 shares of the company’s stock, valued at $53,068,165.26. The disclosure for this sale can be found here. Insiders sold 110,750 shares of company stock valued at $19,581,068 over the last quarter. Insiders own 3.70% of the company’s stock.

Large investors have recently made changes to their positions in the business. Xact Kapitalforvaltning AB boosted its holdings in Universal Display by 13.8% in the second quarter. Xact Kapitalforvaltning AB now owns 6,600 shares of the semiconductor company’s stock valued at $1,241,000 after purchasing an additional 800 shares during the last quarter. Empowered Funds LLC acquired a new stake in Universal Display during the second quarter valued at approximately $1,426,000. Dorsey Wright & Associates acquired a new stake in Universal Display during the second quarter valued at approximately $2,144,000. Weaver Consulting Group acquired a new stake in Universal Display during the first quarter valued at approximately $39,000. Finally, FMR LLC raised its stake in Universal Display by 156,745.0% during the first quarter. FMR LLC now owns 202,330 shares of the semiconductor company’s stock valued at $30,926,000 after buying an additional 202,201 shares in the last quarter. Institutional investors own 76.16% 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 flat panel displays and solid-state lighting applications. As of February 21, 2019, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 5,000 issued and pending patents worldwide.

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Analyst Recommendations for Universal Display (NASDAQ:OLED)

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