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

Universal Display (NASDAQ:OLED - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at Needham & Company LLC in a report released on Friday,Benzinga reports. They presently have a $170.00 price objective on the semiconductor company's stock. Needham & Company LLC's price objective indicates a potential upside of 18.70% from the company's previous close.

A number of other analysts have also commented on the company. The Goldman Sachs Group decreased their target price on Universal Display from $234.00 to $203.00 and set a "buy" rating for the company in a research report on Thursday, February 6th. StockNews.com lowered Universal Display from a "hold" rating to a "sell" rating in a research report on Friday, April 11th. Oppenheimer reduced their price target on shares of Universal Display from $220.00 to $200.00 and set an "outperform" rating for the company in a research report on Thursday, January 2nd. Roth Mkm boosted their price target on shares of Universal Display from $207.00 to $213.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Finally, Citigroup reduced their price objective on shares of Universal Display from $200.00 to $162.00 and set a "neutral" rating for the company in a report on Monday, February 10th. Three equities research 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 stock has a consensus rating of "Moderate Buy" and an average price target of $190.43.

Universal Display Price Performance

NASDAQ OLED traded down $0.80 during mid-day trading on Friday, reaching $143.22. 660,073 shares of the stock were exchanged, compared to its average volume of 576,560. The stock has a market cap of $6.81 billion, a P/E ratio of 30.80, a P/E/G ratio of 1.61 and a beta of 1.46. The stock has a 50 day simple moving average of $135.18 and a 200-day simple moving average of $151.46. Universal Display has a one year low of $103.70 and a one year high of $237.00.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The semiconductor company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.28. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. The firm had revenue of $166.28 million for the quarter, compared to analyst estimates of $154.76 million. During the same period in the previous year, the firm earned $1.19 earnings per share. The company's revenue was up .6% compared to the same quarter last year. Sell-side analysts anticipate that Universal Display will post 4.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Universal Display

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Orion Capital Management LLC bought a new position in Universal Display during the fourth quarter valued at about $29,000. Brown Brothers Harriman & Co. grew its stake in Universal Display by 280.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 209 shares of the semiconductor company's stock valued at $31,000 after buying an additional 154 shares in the last quarter. Golden State Wealth Management LLC raised its stake in shares of Universal Display by 4,700.0% during the 1st quarter. Golden State Wealth Management LLC now owns 240 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 235 shares during the period. Blue Trust Inc. increased its position in shares of Universal Display by 401.9% during the fourth quarter. Blue Trust Inc. now owns 261 shares of the semiconductor company's stock valued at $38,000 after buying an additional 209 shares during the period. Finally, Aster Capital Management DIFC Ltd purchased a new stake in Universal Display in the 4th quarter worth approximately $40,000. 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.