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

Needham & Company LLC restated their buy rating on shares of Universal Display (NASDAQ:OLED) in a report published on Monday, MarketBeat Ratings reports. They currently have a $150.00 price objective on the semiconductor company’s stock.

Several other equities analysts have also weighed in on OLED. Zacks Research lowered Universal Display from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Universal Display in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Universal Display has a consensus rating of “Moderate Buy” and an average target price of $181.33.

Universal Display Stock Performance

Shares of OLED stock opened at $118.95 on Monday. The firm’s 50 day moving average price is $128.28 and its two-hundred day moving average price is $140.46. Universal Display has a 52-week low of $103.70 and a 52-week high of $164.29. The stock has a market cap of $5.65 billion, a PE ratio of 25.64, a PEG ratio of 3.59 and a beta of 1.62.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.27). Universal Display had a net margin of 34.65% and a return on equity of 14.10%. The company had revenue of $139.61 million during the quarter, compared to analyst estimates of $165.56 million. During the same period last year, the company earned $1.40 EPS. The business’s revenue for the quarter was down 13.6% compared to the same quarter last year. As a group, sell-side analysts predict that Universal Display will post 4.71 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, December 17th. This represents a $1.80 dividend on an annualized basis and a yield of 1.5%. Universal Display’s dividend payout ratio is presently 38.79%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Rise Advisors LLC lifted its stake in Universal Display by 87.9% in the 1st quarter. Rise Advisors LLC now owns 186 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 87 shares in the last quarter. Whittier Trust Co. acquired a new stake in shares of Universal Display in the second quarter valued at approximately $30,000. Smartleaf Asset Management LLC lifted its position in shares of Universal Display by 309.8% in the third quarter. Smartleaf Asset Management LLC now owns 209 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 158 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Universal Display by 236.7% in the second quarter. Parkside Financial Bank & Trust now owns 202 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 142 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC acquired a new position in Universal Display during the third quarter worth $33,000. 78.19% of the stock is currently owned by institutional investors.

About Universal Display

Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.