Needham & Company LLC Cuts Universal Display (NASDAQ:OLED) Price Target to $170.00

Universal Display (NASDAQ:OLED - Free Report) had its target price lowered by Needham & Company LLC from $215.00 to $170.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the semiconductor company's stock.

Other equities analysts have also issued research reports about the stock. Oppenheimer reduced their target price on shares of Universal Display from $220.00 to $200.00 and set an "outperform" rating on the stock in a report on Thursday, January 2nd. TD Cowen cut their price target 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, October 31st. The Goldman Sachs Group decreased their price objective on Universal Display from $234.00 to $203.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. Finally, Citigroup dropped their target price on Universal Display from $200.00 to $162.00 and set a "neutral" rating for the company in a report on Monday, February 10th. Two 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 company has a consensus rating of "Moderate Buy" and a consensus price target of $190.43.

Universal Display Stock Performance

OLED traded down $0.58 during trading on Friday, reaching $157.32. The stock had a trading volume of 930,568 shares, compared to its average volume of 737,094. The business has a 50-day moving average of $148.39 and a 200-day moving average of $173.84. Universal Display has a one year low of $140.17 and a one year high of $237.00. The stock has a market cap of $7.47 billion, a PE ratio of 33.83, a PEG ratio of 1.61 and a beta of 1.39.

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Universal Display (NASDAQ:OLED - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The semiconductor company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.08 by $0.14. The firm had revenue of $162.29 million for the quarter, compared to analyst estimates of $152.75 million. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. Equities research analysts forecast that Universal Display will post 4.71 EPS for the current fiscal year.

Universal Display Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.45 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.80 annualized dividend and a yield of 1.14%. This is a boost from Universal Display's previous quarterly dividend of $0.40. Universal Display's dividend payout ratio (DPR) is 38.71%.

Hedge Funds Weigh In On Universal Display

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Universal Display by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 4,784,099 shares of the semiconductor company's stock valued at $699,435,000 after purchasing an additional 67,590 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Universal Display by 2.8% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,536,513 shares of the semiconductor company's stock valued at $370,838,000 after buying an additional 69,043 shares during the period. Geode Capital Management LLC raised its stake in Universal Display by 12.8% in the fourth quarter. Geode Capital Management LLC now owns 901,315 shares of the semiconductor company's stock worth $131,806,000 after buying an additional 101,963 shares in the last quarter. Jennison Associates LLC lifted its holdings in Universal Display by 58.2% in the fourth quarter. Jennison Associates LLC now owns 683,822 shares of the semiconductor company's stock worth $99,975,000 after buying an additional 251,557 shares during the period. Finally, Norges Bank purchased a new position in shares of Universal Display during the 4th quarter worth approximately $95,924,000. Institutional investors own 78.19% of the company's stock.

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.