Universal Display (NASDAQ:OLED) Given New $170.00 Price Target at Needham & Company LLC

Universal Display (NASDAQ:OLED) had its price objective cut by equities research analysts at Needham & Company LLC from $215.00 to $170.00 in a research note issued to investors on Friday,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 15.38% from the stock’s current price.

OLED has been the topic of a number of other research reports. Citigroup cut their target price on shares of Universal Display from $200.00 to $162.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. TD Cowen dropped their price objective on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. The Goldman Sachs Group dropped their price objective on shares of Universal Display from $234.00 to $203.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. Finally, Oppenheimer dropped their price objective on shares of Universal Display from $220.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, January 2nd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $193.14.

Universal Display Stock Performance

Shares of Universal Display stock opened at $147.34 on Friday. The firm has a market cap of $6.99 billion, a PE ratio of 29.59, a price-to-earnings-growth ratio of 1.60 and a beta of 1.39. The firm’s 50-day simple moving average is $148.52 and its 200-day simple moving average is $173.82. Universal Display has a 1 year low of $140.17 and a 1 year high of $237.00.

Universal Display (NASDAQ:OLED) last issued its earnings results on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.14. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. On average, equities analysts predict that Universal Display will post 4.77 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of OLED. Norges Bank bought a new position in Universal Display in the 4th quarter worth about $95,924,000. Raymond James Financial Inc. bought a new position in Universal Display in the 4th quarter worth about $41,504,000. Point72 Asset Management L.P. bought a new position in Universal Display in the 4th quarter worth about $38,981,000. Jennison Associates LLC grew its position in Universal Display by 58.2% in the 4th quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company’s stock worth $99,975,000 after purchasing an additional 251,557 shares during the last quarter. Finally, Citigroup Inc. boosted its holdings in shares of Universal Display by 1,387.6% in the third quarter. Citigroup Inc. now owns 261,723 shares of the semiconductor company’s stock valued at $54,936,000 after acquiring an additional 244,129 shares in the last quarter. 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.