Needham & Company LLC Issues Pessimistic Forecast for Universal Display (NASDAQ:OLED) Stock Price

Universal Display (NASDAQ:OLED) had its price objective cut by equities research analysts at Needham & Company LLC from $242.00 to $215.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 19.28% from the stock’s current price.

A number of other research firms have also commented on OLED. TD Cowen dropped their price target on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday. 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 note on Thursday, July 18th. Susquehanna raised their price objective on shares of Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Oppenheimer raised their price objective 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. Finally, Roth Mkm raised their price objective on shares of Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $215.63.

Universal Display Stock Performance

Shares of OLED opened at $180.25 on Thursday. The firm has a market cap of $8.55 billion, a PE ratio of 36.19, a PEG ratio of 2.17 and a beta of 1.42. The firm’s 50 day moving average price is $201.32 and its 200 day moving average price is $193.94. Universal Display has a twelve month low of $138.60 and a twelve month high of $237.00.

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

Hedge Funds Weigh In On Universal Display

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. ORG Partners LLC bought a new stake in Universal Display during the 1st quarter worth approximately $27,000. Assetmark Inc. bought a new stake in shares of Universal Display during the third quarter worth $29,000. V Square Quantitative Management LLC bought a new stake in shares of Universal Display during the third quarter worth $31,000. Nisa Investment Advisors LLC increased its stake in shares of Universal Display by 60.2% in the third quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 65 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Universal Display by 210.7% in the first quarter. Geneos Wealth Management Inc. now owns 233 shares of the semiconductor company’s stock valued at $39,000 after buying an additional 158 shares during the last quarter. 78.19% of the stock is currently owned by institutional investors and hedge funds.

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.