Universal Display (NASDAQ:OLED) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Universal Display (NASDAQ:OLED) in a research report released on Friday, Benzinga reports. They currently have a $198.00 price target on the semiconductor company’s stock.

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

Universal Display Stock Up 3.2 %

OLED traded up $5.47 during mid-day trading on Friday, reaching $176.29. 474,765 shares of the company traded hands, compared to its average volume of 290,536. Universal Display has a 52-week low of $133.67 and a 52-week high of $194.84. The company’s fifty day moving average price is $163.28 and its 200-day moving average price is $169.10. The stock has a market capitalization of $8.36 billion, a P/E ratio of 37.13, a P/E/G ratio of 1.85 and a beta of 1.44.

Universal Display (NASDAQ:OLED) last issued its earnings results on Thursday, May 2nd. The semiconductor company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.14. The company had revenue of $165.26 million during the quarter, compared to the consensus estimate of $150.75 million. Universal Display had a net margin of 36.00% and a return on equity of 15.57%. Universal Display’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.83 EPS. As a group, sell-side 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. Shareholders of record on Friday, June 14th will be issued a $0.40 dividend. The ex-dividend date 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 (DPR) is presently 34.78%.

Institutional Investors Weigh In On Universal Display

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Universal Display during the 4th quarter valued at about $101,088,000. AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of Universal Display in the 4th quarter worth approximately $29,797,000. Albar Capital Ltd raised its holdings in shares of Universal Display by 2,888.4% in the 3rd quarter. Albar Capital Ltd now owns 157,728 shares of the semiconductor company’s stock worth $24,762,000 after purchasing an additional 152,450 shares in the last quarter. TimesSquare Capital Management LLC raised its holdings in shares of Universal Display by 327.5% during the fourth quarter. TimesSquare Capital Management LLC now owns 198,899 shares of the semiconductor company’s stock valued at $38,041,000 after acquiring an additional 152,374 shares during the period. Finally, FMR LLC raised its holdings in shares of Universal Display by 10.6% during the third quarter. FMR LLC now owns 1,398,961 shares of the semiconductor company’s stock valued at $219,623,000 after acquiring an additional 134,000 shares during the period. 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.