Needham & Company LLC Lowers Universal Display (NASDAQ:OLED) Price Target to $170.00

Universal Display (NASDAQ:OLED) had its price target cut by stock analysts at Needham & Company LLC from $215.00 to $170.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 8.07% from the company’s current price.

A number of other research firms have also recently commented on OLED. Oppenheimer cut their price target on shares of Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, January 2nd. TD Cowen cut their price target on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Citigroup cut their price target on shares of Universal Display from $200.00 to $162.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. Finally, The Goldman Sachs Group cut their price target on shares of Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $190.43.

Universal Display Trading Up 6.8 %

Shares of NASDAQ:OLED opened at $157.30 on Friday. The company has a 50 day moving average of $148.41 and a 200 day moving average of $173.80. The stock has a market cap of $7.47 billion, a P/E ratio of 33.83, a P/E/G ratio of 1.61 and a beta of 1.39. Universal Display has a 12 month low of $140.17 and a 12 month high of $237.00.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, February 20th. The semiconductor company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.08 by $0.14. The company had revenue of $162.29 million during the quarter, compared to analysts’ expectations of $152.75 million. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. On average, equities analysts forecast that Universal Display will post 4.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Universal Display

A number of institutional investors have recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Universal Display by 2.8% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,536,513 shares of the semiconductor company’s stock valued at $370,838,000 after purchasing an additional 69,043 shares in the last quarter. Mackenzie Financial Corp purchased a new stake in shares of Universal Display in the 4th quarter valued at $3,779,000. Orion Capital Management LLC bought a new stake in Universal Display during the 4th quarter valued at $29,000. Voloridge Investment Management LLC bought a new stake in Universal Display during the 4th quarter valued at $1,193,000. Finally, Twinbeech Capital LP bought a new stake in Universal Display during the 4th quarter valued at $16,427,000. Hedge funds and other institutional investors 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.