Universal Display (NASDAQ:OLED) Price Target Raised to $242.00 at Needham & Company LLC

Universal Display (NASDAQ:OLED) had its price objective increased by analysts at Needham & Company LLC from $198.00 to $242.00 in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s target price indicates a potential upside of 16.01% from the company’s previous close.

Universal Display Price Performance

Universal Display stock opened at $208.61 on Tuesday. The firm has a 50 day simple moving average of $182.23 and a 200-day simple moving average of $176.73. The stock has a market capitalization of $9.90 billion, a PE ratio of 45.35, a price-to-earnings-growth ratio of 2.28 and a beta of 1.42. Universal Display has a 12-month low of $133.67 and a 12-month high of $212.46.

Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, May 2nd. The semiconductor company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.05 by $0.14. Universal Display had a net margin of 36.00% and a return on equity of 15.57%. The business had revenue of $165.26 million during the quarter, compared to analyst estimates of $150.75 million. During the same period in the prior year, the business earned $0.83 earnings per share. The business’s quarterly revenue was up 26.7% on a year-over-year basis. On average, analysts forecast that Universal Display will post 4.75 earnings per share for the current fiscal year.

Insider Transactions at Universal Display

In other news, SVP Mauro Premutico sold 8,202 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $176.82, for a total transaction of $1,450,277.64. Following the transaction, the senior vice president now owns 28,743 shares in the company, valued at approximately $5,082,337.26. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Mauro Premutico sold 8,202 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $176.82, for a total transaction of $1,450,277.64. Following the transaction, the senior vice president now owns 28,743 shares in the company, valued at approximately $5,082,337.26. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Julia J. Brown sold 10,358 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $175.00, for a total transaction of $1,812,650.00. Following the transaction, the executive vice president now owns 56,624 shares in the company, valued at approximately $9,909,200. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.

Institutional Trading of Universal Display

Several hedge funds and other institutional investors have recently bought and sold shares of OLED. Peapack Gladstone Financial Corp lifted its holdings in shares of Universal Display by 1.8% during the 4th quarter. Peapack Gladstone Financial Corp now owns 3,367 shares of the semiconductor company’s stock worth $643,000 after acquiring an additional 60 shares during the period. 1492 Capital Management LLC lifted its holdings in shares of Universal Display by 0.8% during the 4th quarter. 1492 Capital Management LLC now owns 9,543 shares of the semiconductor company’s stock worth $1,825,000 after acquiring an additional 79 shares during the period. Treasurer of the State of North Carolina lifted its holdings in Universal Display by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 20,516 shares of the semiconductor company’s stock valued at $3,221,000 after purchasing an additional 100 shares during the last quarter. Spire Wealth Management lifted its holdings in Universal Display by 11.1% during the 1st quarter. Spire Wealth Management now owns 1,000 shares of the semiconductor company’s stock valued at $168,000 after purchasing an additional 100 shares during the last quarter. Finally, Bahl & Gaynor Inc. lifted its holdings in Universal Display by 0.5% during the 1st quarter. Bahl & Gaynor Inc. now owns 18,645 shares of the semiconductor company’s stock valued at $3,141,000 after purchasing an additional 101 shares during the last quarter. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Universal Display Company Profile

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.