Universal Display (NASDAQ:OLED) PT Raised to $242.00

Universal Display (NASDAQ:OLED) had its price objective boosted by research analysts at Needham & Company LLC from $198.00 to $242.00 in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 11.02% from the company’s current price.

Universal Display Price Performance

Universal Display stock opened at $217.98 on Tuesday. The firm has a market capitalization of $10.34 billion, a PE ratio of 47.39, a P/E/G ratio of 2.28 and a beta of 1.42. The company’s 50-day moving average is $184.65 and its 200-day moving average is $177.22. Universal Display has a fifty-two week low of $133.67 and a fifty-two week high of $219.31.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.14. The company had revenue of $165.26 million for the quarter, compared to analyst estimates of $150.75 million. Universal Display had a net margin of 36.00% and a return on equity of 15.57%. Universal Display’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.83 EPS. As a group, analysts expect that Universal Display will post 4.75 EPS for the current year.

Insider Buying and Selling

In related news, EVP Julia J. Brown sold 10,358 shares of Universal Display stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $175.00, for a total transaction of $1,812,650.00. Following the completion of the sale, the executive vice president now owns 56,624 shares of the company’s stock, valued at approximately $9,909,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Mauro Premutico sold 8,202 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $176.82, for a total transaction of $1,450,277.64. Following the transaction, the senior vice president now directly owns 28,743 shares of the company’s stock, valued at $5,082,337.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Julia J. Brown sold 10,358 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $175.00, for a total transaction of $1,812,650.00. Following the completion of the sale, the executive vice president now owns 56,624 shares in the company, valued at approximately $9,909,200. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.

Institutional Trading of Universal Display

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Universal Display by 1.1% in the first quarter. Vanguard Group Inc. now owns 4,567,374 shares of the semiconductor company’s stock valued at $769,374,000 after buying an additional 50,233 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Universal Display by 0.4% during the fourth quarter. Jennison Associates LLC now owns 903,068 shares of the semiconductor company’s stock worth $172,721,000 after purchasing an additional 3,397 shares during the period. Norges Bank acquired a new position in shares of Universal Display during the fourth quarter worth $101,088,000. First Trust Advisors LP lifted its holdings in shares of Universal Display by 20.7% during the fourth quarter. First Trust Advisors LP now owns 449,628 shares of the semiconductor company’s stock worth $85,996,000 after purchasing an additional 76,967 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of Universal Display by 66.6% during the first quarter. Janus Henderson Group PLC now owns 434,029 shares of the semiconductor company’s stock worth $73,099,000 after purchasing an additional 173,496 shares during the period. 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.