Oppenheimer Cuts Universal Display (NASDAQ:OLED) Price Target to $200.00

Universal Display (NASDAQ:OLED) had its price target decreased by Oppenheimer from $220.00 to $200.00 in a note issued to investors on Thursday, MarketBeat Ratings reports. The firm presently has an “outperform” rating on the semiconductor company’s stock. Oppenheimer’s target price suggests a potential upside of 36.80% from the stock’s current price.

OLED has been the topic of a number of other reports. Needham & Company LLC reduced their price target on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. TD Cowen decreased their price target on Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $207.86.

Universal Display Price Performance

Universal Display stock opened at $146.20 on Thursday. The stock has a market cap of $6.94 billion, a price-to-earnings ratio of 29.36, a price-to-earnings-growth ratio of 1.74 and a beta of 1.40. The firm has a 50 day simple moving average of $167.10 and a 200-day simple moving average of $191.02. Universal Display has a 1-year low of $145.26 and a 1-year high of $237.00.

Universal Display (NASDAQ:OLED) last posted its earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.21. The company had revenue of $161.63 million during the quarter, compared to analysts’ expectations of $165.28 million. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. The firm’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.08 earnings per share. Equities analysts expect that Universal Display will post 4.8 earnings per share for the current fiscal year.

Insider Transactions at Universal Display

In related news, Director Lawrence Lacerte purchased 742 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was acquired at an average price of $180.89 per share, for a total transaction of $134,220.38. Following the completion of the purchase, the director now directly owns 122,372 shares of the company’s stock, valued at $22,135,871.08. This trade represents a 0.61 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.90% of the company’s stock.

Institutional Trading of Universal Display

Hedge funds and other institutional investors have recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of Universal Display in the second quarter valued at about $127,668,000. Citigroup Inc. raised its stake in Universal Display by 1,387.6% in the 3rd quarter. Citigroup Inc. now owns 261,723 shares of the semiconductor company’s stock valued at $54,936,000 after purchasing an additional 244,129 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Universal Display by 629.9% during the third quarter. Raymond James & Associates now owns 269,414 shares of the semiconductor company’s stock worth $56,550,000 after buying an additional 232,503 shares in the last quarter. Barclays PLC boosted its position in Universal Display by 753.8% during the third quarter. Barclays PLC now owns 212,518 shares of the semiconductor company’s stock worth $44,608,000 after acquiring an additional 187,627 shares during the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new position in Universal Display during the second quarter worth about $34,558,000. 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.