Universal Display (NASDAQ:OLED) Given New $200.00 Price Target at Oppenheimer

Universal Display (NASDAQ:OLED) had its target price lowered by analysts at Oppenheimer from $220.00 to $200.00 in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage currently has an “outperform” rating on the semiconductor company’s stock. Oppenheimer’s price objective would suggest a potential upside of 36.80% from the stock’s current price.

Several other research analysts have also recently weighed in on the stock. Needham & Company LLC decreased their price objective on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a report on Thursday, October 31st. TD Cowen lowered their price target on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $207.86.

Universal Display Price Performance

Shares of OLED stock opened at $146.20 on Thursday. Universal Display has a 1-year low of $145.26 and a 1-year high of $237.00. The stock has a market capitalization of $6.94 billion, a PE ratio of 29.36, a P/E/G ratio of 1.74 and a beta of 1.40. The business has a 50-day moving average of $167.10 and a 200 day moving average of $191.02.

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 for 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%. Universal Display’s quarterly revenue was up 14.6% on a year-over-year basis. During the same period last year, the firm earned $1.08 earnings per share. Analysts anticipate that Universal Display will post 4.8 EPS for the current year.

Insiders Place Their Bets

In other Universal Display news, Director Lawrence Lacerte acquired 742 shares of the stock in a transaction dated Monday, November 4th. The stock was purchased at an average price of $180.89 per share, with a total value of $134,220.38. Following the transaction, 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Universal Display

Several hedge funds have recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. lifted its stake in Universal Display by 35.5% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 1,759 shares of the semiconductor company’s stock valued at $369,000 after acquiring an additional 461 shares during the period. Synovus Financial Corp raised its holdings in shares of Universal Display by 41.3% during the third quarter. Synovus Financial Corp now owns 8,277 shares of the semiconductor company’s stock valued at $1,738,000 after acquiring an additional 2,419 shares during the last quarter. Tidal Investments LLC lifted its holdings in Universal Display by 9.2% in the 3rd quarter. Tidal Investments LLC now owns 7,037 shares of the semiconductor company’s stock valued at $1,477,000 after purchasing an additional 595 shares in the last quarter. Wilmington Savings Fund Society FSB raised its position in shares of Universal Display by 2.8% in the third quarter. Wilmington Savings Fund Society FSB now owns 4,272 shares of the semiconductor company’s stock valued at $897,000 after buying an additional 118 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of Universal Display in the third quarter worth about $2,356,000. 78.19% of the stock is owned by institutional investors and hedge funds.

Universal Display Company Profile

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.