Universal Display (NASDAQ:OLED) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Universal Display (NASDAQ:OLED) in a research report report published on Friday morning, Benzinga reports. The firm currently has a $198.00 price objective on the semiconductor company’s stock.

Several other analysts also recently commented on the stock. TD Cowen upped their price target on shares of Universal Display from $165.00 to $210.00 and gave the company an outperform rating in a research report on Friday, February 23rd. Oppenheimer reiterated an outperform rating and issued a $200.00 price target (down previously from $210.00) on shares of Universal Display in a research report on Friday, February 23rd. Finally, Citigroup reiterated a neutral rating and issued a $180.00 price target (up previously from $161.00) on shares of Universal Display in a research report on Friday, January 19th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Universal Display currently has an average rating of Moderate Buy and an average price target of $199.86.

Universal Display Trading Up 3.2 %

Shares of Universal Display stock opened at $176.29 on Friday. The company has a fifty day simple moving average of $163.34 and a 200-day simple moving average of $169.23. Universal Display has a 12-month low of $133.67 and a 12-month high of $194.84. The stock has a market cap of $8.36 billion, a price-to-earnings ratio of 38.32, a PEG ratio of 1.85 and a beta of 1.44.

Universal Display (NASDAQ:OLED) last released its quarterly 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 firm had revenue of $165.26 million during the quarter, compared to the consensus estimate of $150.75 million. During the same quarter in the prior year, the firm earned $0.83 EPS. Universal Display’s revenue for the quarter was up 26.7% on a year-over-year basis. On average, analysts forecast that Universal Display will post 4.74 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.91%. Universal Display’s dividend payout ratio is presently 34.78%.

Hedge Funds Weigh In On Universal Display

A number of large investors have recently made changes to their positions in the stock. Peapack Gladstone Financial Corp increased its holdings in shares of Universal Display by 1.8% in the 4th quarter. Peapack Gladstone Financial Corp now owns 3,367 shares of the semiconductor company’s stock valued at $643,000 after purchasing an additional 60 shares in the last quarter. 1492 Capital Management LLC grew its stake in Universal Display by 0.8% in the 4th quarter. 1492 Capital Management LLC now owns 9,543 shares of the semiconductor company’s stock valued at $1,825,000 after acquiring an additional 79 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in Universal Display by 0.5% in 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 acquiring an additional 100 shares during the last quarter. Spire Wealth Management grew its stake in Universal Display by 11.1% in the 1st quarter. Spire Wealth Management now owns 1,000 shares of the semiconductor company’s stock valued at $168,000 after acquiring an additional 100 shares during the last quarter. Finally, CWM LLC grew its stake in Universal Display by 21.0% in the 4th quarter. CWM LLC now owns 606 shares of the semiconductor company’s stock valued at $116,000 after acquiring an additional 105 shares during the last quarter. 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.