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 published on Tuesday morning, Benzinga reports. They currently have a $198.00 price objective on the semiconductor company’s stock.

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

Universal Display Stock Performance

Shares of Universal Display stock opened at $168.45 on Tuesday. Universal Display has a 52-week low of $125.98 and a 52-week high of $194.84. The stock 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. The company has a fifty day moving average of $172.93 and a 200-day moving average of $168.90.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, February 22nd. The semiconductor company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.11. Universal Display had a net margin of 35.22% and a return on equity of 14.85%. The company had revenue of $158.32 million during the quarter, compared to analysts’ expectations of $161.08 million. During the same quarter in the prior year, the company earned $1.36 EPS. The firm’s revenue was down 6.3% on a year-over-year basis. On average, equities research analysts forecast that Universal Display will post 4.72 earnings per share for the current fiscal year.

Universal Display Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.95%. The ex-dividend date was Thursday, March 14th. This is a boost from Universal Display’s previous quarterly dividend of $0.35. Universal Display’s dividend payout ratio is 37.74%.

Hedge Funds Weigh In On Universal Display

Several large investors have recently added to or reduced their stakes in the company. US Bancorp DE lifted its holdings in shares of Universal Display by 44.7% in the first quarter. US Bancorp DE now owns 2,947 shares of the semiconductor company’s stock worth $492,000 after buying an additional 911 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of Universal Display by 2.0% in the first quarter. HighTower Advisors LLC now owns 9,647 shares of the semiconductor company’s stock worth $1,610,000 after buying an additional 189 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Universal Display by 2.8% in the first quarter. BlackRock Inc. now owns 4,309,400 shares of the semiconductor company’s stock worth $719,455,000 after buying an additional 117,055 shares in the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of Universal Display by 8.4% in the first quarter. Great West Life Assurance Co. Can now owns 24,038 shares of the semiconductor company’s stock worth $4,121,000 after buying an additional 1,860 shares in the last quarter. Finally, Yousif Capital Management LLC lifted its holdings in shares of Universal Display by 1.1% in the first quarter. Yousif Capital Management LLC now owns 22,569 shares of the semiconductor company’s stock worth $3,768,000 after buying an additional 239 shares in the last quarter. Hedge funds and other institutional investors 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.