Needham & Company LLC Reaffirms "Buy" Rating for Universal Display (NASDAQ:OLED)

Needham & Company LLC restated their buy rating on shares of Universal Display (NASDAQ:OLED - Free Report) in a report issued on Thursday,Benzinga reports. They currently have a $215.00 target price on the semiconductor company's stock.

A number of other brokerages have also weighed in on OLED. TD Cowen lowered their price objective on Universal Display from $250.00 to $225.00 and set a "buy" rating for the company in a research note on Thursday, October 31st. Oppenheimer decreased 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. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $207.86.

Universal Display Stock Up 0.4 %

Shares of OLED traded up $0.56 during mid-day trading on Thursday, reaching $147.12. 1,512,586 shares of the stock traded hands, compared to its average volume of 641,799. The firm has a market cap of $6.98 billion, a price-to-earnings ratio of 29.54, a P/E/G ratio of 1.62 and a beta of 1.40. The stock has a fifty day simple moving average of $158.45 and a 200 day simple moving average of $186.94. Universal Display has a 12-month low of $143.25 and a 12-month high of $237.00.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 EPS for the quarter, topping analysts' consensus estimates of $1.19 by $0.21. The firm had revenue of $161.63 million for the quarter, compared to analyst estimates of $165.28 million. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. The firm's revenue was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.08 EPS. On average, equities research analysts expect that Universal Display will post 4.77 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.09%. The ex-dividend date was Tuesday, December 17th. Universal Display's dividend payout ratio (DPR) is presently 32.13%.

Insider Buying and Selling

In other news, Director Lawrence Lacerte acquired 742 shares of the company's stock in a transaction that occurred on Monday, November 4th. The shares were acquired at an average price of $180.89 per share, with a total value of $134,220.38. Following the acquisition, the director now directly owns 122,372 shares in the company, valued at approximately $22,135,871.08. The trade was a 0.61 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of OLED. Assetmark Inc. acquired a new position in shares of Universal Display during the third quarter worth approximately $29,000. Brooklyn Investment Group bought a new position in shares of Universal Display in the third quarter worth $30,000. V Square Quantitative Management LLC acquired a new position in shares of Universal Display during the third quarter valued at $31,000. Nisa Investment Advisors LLC raised its stake in shares of Universal Display by 60.2% during the third quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company's stock valued at $36,000 after purchasing an additional 65 shares in the last quarter. Finally, True Wealth Design LLC acquired a new stake in Universal Display in the third quarter worth about $36,000. 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.