Universal Display (NASDAQ:OLED) Rating Reiterated by Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Universal Display (NASDAQ:OLED) in a report released on Tuesday morning, Benzinga reports. They currently have a $198.00 price objective on the semiconductor company’s stock.

OLED has been the subject of a number of other research reports. Oppenheimer reiterated an outperform rating and set a $200.00 price objective (down previously from $210.00) on shares of Universal Display in a research report on Friday, February 23rd. TheStreet upgraded Universal Display from a c+ rating to a b- rating in a research report on Thursday, December 21st. Bank of America upgraded Universal Display from a neutral rating to a buy rating and increased their price objective for the company from $160.00 to $250.00 in a research report on Monday, December 18th. TD Cowen increased their price objective on Universal Display from $165.00 to $210.00 and gave the company an outperform rating in a research report on Friday, February 23rd. Finally, Citigroup reiterated a neutral rating and set a $180.00 price objective (up previously from $161.00) on shares of Universal Display in a research report on Friday, January 19th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $199.86.

Universal Display Price Performance

OLED opened at $168.45 on Tuesday. The company has a market capitalization of $7.98 billion, a price-to-earnings ratio of 39.73, a price-to-earnings-growth ratio of 1.83 and a beta of 1.45. Universal Display has a 1-year low of $125.98 and a 1-year high of $194.84. The business has a 50 day moving average price of $172.93 and a two-hundred day moving average price of $168.90.

Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, February 22nd. The semiconductor company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.11. The firm had revenue of $158.32 million during the quarter, compared to the consensus estimate of $161.08 million. Universal Display had a return on equity of 14.85% and a net margin of 35.22%. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.36 earnings per share. Equities analysts expect that Universal Display will post 4.72 EPS for the current fiscal year.

Universal Display Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.40 per share. This is a positive change from Universal Display’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend was Thursday, March 14th. Universal Display’s dividend payout ratio (DPR) is 37.74%.

Hedge Funds Weigh In On Universal Display

Several institutional investors have recently bought and sold shares of OLED. Sei Investments Co. grew its position in shares of Universal Display by 54.5% in the third quarter. Sei Investments Co. now owns 80,538 shares of the semiconductor company’s stock valued at $12,644,000 after purchasing an additional 28,415 shares during the last quarter. Barclays PLC grew its position in shares of Universal Display by 15.0% in the third quarter. Barclays PLC now owns 61,724 shares of the semiconductor company’s stock valued at $9,690,000 after purchasing an additional 8,041 shares during the last quarter. XXEC Inc. acquired a new stake in Universal Display during the third quarter worth about $471,000. Geode Capital Management LLC grew its position in Universal Display by 7.0% during the second quarter. Geode Capital Management LLC now owns 786,496 shares of the semiconductor company’s stock worth $113,358,000 after buying an additional 51,173 shares in the last quarter. Finally, Deutsche Bank AG grew its position in Universal Display by 85.4% during the third quarter. Deutsche Bank AG now owns 119,226 shares of the semiconductor company’s stock worth $18,717,000 after buying an additional 54,934 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors.

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.