Oppenheimer Cuts Universal Display (NASDAQ:OLED) Price Target to $220.00

Universal Display (NASDAQ:OLED - Free Report) had its price objective reduced by Oppenheimer from $240.00 to $220.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have an outperform rating on the semiconductor company's stock.

A number of other research firms also recently commented on OLED. Roth Mkm boosted their price objective on shares of Universal Display from $189.00 to $217.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. The Goldman Sachs Group boosted their price objective on shares of Universal Display from $208.00 to $243.00 and gave the stock a "buy" rating in a report on Thursday, July 18th. Susquehanna boosted their price objective on shares of Universal Display from $170.00 to $175.00 and gave the stock a "neutral" rating in a report on Friday, August 2nd. TD Cowen cut their target price on shares of Universal Display from $250.00 to $225.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Needham & Company LLC cut their target price on shares of Universal Display from $242.00 to $215.00 and set a "buy" rating for the company in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $215.63.

Universal Display Trading Down 11.2 %

Shares of NASDAQ:OLED traded down $22.84 during midday trading on Thursday, hitting $180.32. The stock had a trading volume of 1,223,382 shares, compared to its average volume of 367,966. The company has a market capitalization of $8.55 billion, a PE ratio of 39.20, a P/E/G ratio of 2.16 and a beta of 1.42. The stock has a 50 day moving average price of $201.79 and a two-hundred day moving average price of $193.89. Universal Display has a 1 year low of $133.67 and a 1 year high of $237.00.

Universal Display (NASDAQ:OLED - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.20. The firm had revenue of $161.63 million for the quarter, compared to the consensus estimate of $165.28 million. Universal Display had a net margin of 35.74% and a return on equity of 15.25%. The firm's revenue was up 14.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.08 earnings per share. As a group, equities analysts expect that Universal Display will post 4.81 EPS for the current year.

Hedge Funds Weigh In On Universal Display

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Olympiad Research LP increased its position in Universal Display by 33.8% during the third quarter. Olympiad Research LP now owns 2,573 shares of the semiconductor company's stock worth $540,000 after purchasing an additional 650 shares during the last quarter. QRG Capital Management Inc. increased its position in Universal Display by 26.4% during the third quarter. QRG Capital Management Inc. now owns 1,509 shares of the semiconductor company's stock worth $317,000 after purchasing an additional 315 shares during the last quarter. Van ECK Associates Corp increased its position in Universal Display by 27.2% during the third quarter. Van ECK Associates Corp now owns 507,440 shares of the semiconductor company's stock worth $101,914,000 after purchasing an additional 108,394 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Universal Display by 625.9% during the third quarter. Janney Montgomery Scott LLC now owns 40,989 shares of the semiconductor company's stock worth $8,604,000 after purchasing an additional 35,342 shares during the last quarter. Finally, Stephens Inc. AR acquired a new position in Universal Display during the third quarter worth approximately $249,000. Institutional investors and hedge funds 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.