Universal Display (NASDAQ:OLED) Given New $170.00 Price Target at Needham & Company LLC

Universal Display (NASDAQ:OLED) had its price target decreased by Needham & Company LLC from $215.00 to $170.00 in a report released on Friday,Benzinga reports. Needham & Company LLC currently has a buy rating on the semiconductor company’s stock.

OLED has been the subject of a number of other research reports. TD Cowen lowered their price objective on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Oppenheimer lowered their target price on Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, January 2nd. The Goldman Sachs Group dropped their price target on Universal Display from $234.00 to $203.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Finally, Citigroup reduced their price objective on Universal Display from $200.00 to $162.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $190.43.

Universal Display Stock Performance

NASDAQ:OLED opened at $157.30 on Friday. The company has a market capitalization of $7.47 billion, a price-to-earnings ratio of 33.83, a price-to-earnings-growth ratio of 1.61 and a beta of 1.39. Universal Display has a one year low of $140.17 and a one year high of $237.00. The stock has a 50-day simple moving average of $148.41 and a 200 day simple moving average of $173.91.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.14. The business had revenue of $162.29 million for the quarter, compared to analyst estimates of $152.75 million. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. On average, equities research analysts forecast that Universal Display will post 4.71 EPS for the current fiscal year.

Universal Display Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a $0.45 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.80 annualized dividend and a dividend yield of 1.14%. This is a positive change from Universal Display’s previous quarterly dividend of $0.40. Universal Display’s dividend payout ratio (DPR) is presently 38.71%.

Hedge Funds Weigh In On Universal Display

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Creative Planning boosted its position in Universal Display by 16.1% during the 3rd quarter. Creative Planning now owns 15,406 shares of the semiconductor company’s stock worth $3,234,000 after acquiring an additional 2,132 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in Universal Display by 240.0% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 340 shares of the semiconductor company’s stock valued at $71,000 after buying an additional 240 shares during the period. International Assets Investment Management LLC acquired a new position in Universal Display during the 3rd quarter valued at about $6,785,000. PFG Investments LLC lifted its stake in shares of Universal Display by 14.5% in the 3rd quarter. PFG Investments LLC now owns 13,370 shares of the semiconductor company’s stock worth $2,806,000 after acquiring an additional 1,690 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in shares of Universal Display by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 5,072 shares of the semiconductor company’s stock valued at $1,064,000 after acquiring an additional 345 shares during the period. 78.19% of the stock is currently owned by institutional investors and hedge funds.

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.