Universal Display Co. (NASDAQ:OLED) Receives Average Recommendation of “Moderate Buy” from Brokerages

Universal Display Co. (NASDAQ:OLED) has received a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $225.88.

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group raised their price target on shares of Universal Display from $208.00 to $243.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Oppenheimer lifted their target price on shares of Universal Display from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, July 3rd. TD Cowen lifted their target price on shares of Universal Display from $210.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Roth Mkm lifted their target price on shares of Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Needham & Company LLC boosted their price objective on shares of Universal Display from $198.00 to $242.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd.

Universal Display Stock Up 4.7 %

Shares of NASDAQ:OLED opened at $213.83 on Wednesday. The stock has a market cap of $10.14 billion, a PE ratio of 46.48, a PEG 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. The company’s fifty day moving average is $201.59 and its 200 day moving average is $193.83.

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 analysts’ consensus estimates of $1.14 by ($0.04). The firm had revenue of $158.50 million during the quarter, compared to the consensus estimate of $159.46 million. Universal Display had a return on equity of 15.25% and a net margin of 35.74%. Universal Display’s revenue was up 8.1% on a year-over-year basis. During the same period last year, the business earned $1.04 EPS. Sell-side analysts anticipate that Universal Display will post 4.81 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of Universal Display during the second quarter valued at approximately $127,668,000. Raymond James & Associates grew its position in Universal Display by 629.9% during the third quarter. Raymond James & Associates now owns 269,414 shares of the semiconductor company’s stock valued at $56,550,000 after buying an additional 232,503 shares during the period. Janus Henderson Group PLC grew its position in Universal Display by 66.6% during the first quarter. Janus Henderson Group PLC now owns 434,029 shares of the semiconductor company’s stock valued at $73,099,000 after buying an additional 173,496 shares during the period. CloudAlpha Capital Management Limited Hong Kong bought a new stake in Universal Display during the second quarter valued at approximately $34,558,000. Finally, Strategic Financial Concepts LLC bought a new stake in Universal Display during the second quarter valued at approximately $23,500,000. 78.19% of the stock is owned by hedge funds and other institutional investors.

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.