Universal Display (NASDAQ:OLED) Price Target Raised to $180.00

Universal Display (NASDAQ:OLED) had its price objective raised by Citigroup from $140.00 to $180.00 in a report released on Monday, May 6th, MarketBeat Ratings reports. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. Citigroup‘s price target indicates a potential upside of 20.51% from the company’s previous close.

Several other equities analysts have also recently weighed in on the stock. Deutsche Bank raised their price target on shares of Universal Display to $140.00 in a research report on Friday, February 22nd. Zacks Investment Research raised shares of Universal Display from a “hold” rating to a “buy” rating and set a $174.00 target price on the stock in a research report on Tuesday, March 26th. Roth Capital lifted their target price on shares of Universal Display from $128.00 to $172.00 and gave the stock a “buy” rating in a research report on Tuesday, February 26th. ValuEngine raised shares of Universal Display from a “hold” rating to a “buy” rating in a report on Saturday, February 23rd. Finally, Needham & Company LLC lifted their price target on shares of Universal Display from $105.00 to $140.00 and gave the stock a “buy” rating in a report on Friday, February 22nd. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $160.44.

NASDAQ OLED traded up $1.10 on Monday, reaching $149.36. The company had a trading volume of 333,623 shares, compared to its average volume of 830,900. The company has a market capitalization of $7.05 billion, a price-to-earnings ratio of 120.45, a PEG ratio of 2.02 and a beta of 1.41. Universal Display has a fifty-two week low of $78.75 and a fifty-two week high of $190.00.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.40. The firm had revenue of $87.80 million during the quarter, compared to the consensus estimate of $64.59 million. Universal Display had a return on equity of 12.35% and a net margin of 28.93%. The business’s revenue was up 101.4% compared to the same quarter last year. During the same period last year, the business posted $0.13 EPS. Sell-side analysts anticipate that Universal Display will post 2.44 earnings per share for the current year.

In related news, Director Richard C. Elias sold 1,250 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $153.38, for a total value of $191,725.00. Following the completion of the sale, the director now directly owns 1,250 shares of the company’s stock, valued at approximately $191,725. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Rosemarie B. Greco sold 4,425 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $171.13, for a total value of $757,250.25. Following the completion of the sale, the director now directly owns 6,793 shares of the company’s stock, valued at $1,162,486.09. The disclosure for this sale can be found here. Insiders have sold 51,533 shares of company stock valued at $8,541,217 in the last ninety days. Company insiders own 3.70% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OLED. BlackRock Inc. grew its holdings in Universal Display by 108.6% in the 4th quarter. BlackRock Inc. now owns 3,754,887 shares of the semiconductor company’s stock valued at $351,345,000 after buying an additional 1,954,515 shares during the last quarter. Norges Bank bought a new stake in shares of Universal Display in the 4th quarter worth approximately $40,599,000. Bank of New York Mellon Corp lifted its position in shares of Universal Display by 178.8% in the 4th quarter. Bank of New York Mellon Corp now owns 455,871 shares of the semiconductor company’s stock worth $42,656,000 after acquiring an additional 292,382 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Universal Display by 29.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,023,098 shares of the semiconductor company’s stock worth $120,623,000 after acquiring an additional 230,534 shares during the period. Finally, FMR LLC lifted its position in shares of Universal Display by 156,745.0% in the 1st quarter. FMR LLC now owns 202,330 shares of the semiconductor company’s stock worth $30,926,000 after acquiring an additional 202,201 shares during the period. 75.98% of the stock is currently owned by hedge funds and other institutional investors.

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 flat panel displays and solid-state lighting applications. As of February 21, 2019, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 5,000 issued and pending patents worldwide.

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Analyst Recommendations for Universal Display (NASDAQ:OLED)

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