Universal Display (NASDAQ:OLED) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Universal Display (NASDAQ:OLED) in a report released on Friday, Benzinga reports. Needham & Company LLC currently has a $198.00 target price on the semiconductor company’s stock.

Several other equities research analysts have also recently issued reports on OLED. Oppenheimer reissued an outperform rating and set a $200.00 target price (down previously from $210.00) on shares of Universal Display in a research note on Friday, February 23rd. TD Cowen raised their target price on Universal Display from $165.00 to $210.00 and gave the stock an outperform rating in a research note on Friday, February 23rd. Finally, Citigroup reissued a neutral rating and set a $180.00 target price (up previously from $161.00) on shares of Universal Display in a research note on Friday, January 19th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Universal Display currently has a consensus rating of Moderate Buy and an average price target of $199.86.

Universal Display Price Performance

Universal Display stock traded up $14.50 during trading on Friday, reaching $170.82. 736,345 shares of the company were exchanged, compared to its average volume of 256,763. Universal Display has a 52-week low of $131.00 and a 52-week high of $194.84. The company has a market capitalization of $8.10 billion, a P/E ratio of 37.13, a PEG ratio of 1.70 and a beta of 1.44. The stock’s 50 day simple moving average is $163.28 and its two-hundred day simple moving average is $169.01.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.14. Universal Display had a return on equity of 15.84% and a net margin of 36.00%. The firm had revenue of $165.26 million for the quarter, compared to the consensus estimate of $150.75 million. During the same quarter last year, the business posted $0.83 earnings per share. The firm’s revenue was up 26.7% compared to the same quarter last year. As a group, equities analysts forecast that Universal Display will post 4.72 earnings per share for the current year.

Universal Display Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a yield of 0.94%. Universal Display’s dividend payout ratio (DPR) is presently 34.78%.

Hedge Funds Weigh In On Universal Display

Several institutional investors have recently modified their holdings of OLED. Benjamin F. Edwards & Company Inc. purchased a new position in Universal Display in the fourth quarter valued at $25,000. Orion Capital Management LLC purchased a new position in shares of Universal Display in the 3rd quarter valued at about $31,000. Principal Securities Inc. acquired a new position in shares of Universal Display during the fourth quarter worth about $34,000. Tsfg LLC purchased a new stake in shares of Universal Display during the first quarter worth approximately $34,000. Finally, University of Texas Texas AM Investment Managment Co. acquired a new stake in Universal Display in the fourth quarter valued at approximately $35,000. 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.