Needham & Company LLC Cuts Universal Display (NASDAQ:OLED) Price Target to $150.00

Universal Display (NASDAQ:OLED) had its price target decreased by Needham & Company LLC from $170.00 to $150.00 in a research note issued to investors on Friday,Benzinga reports. Needham & Company LLC currently has a buy rating on the semiconductor company’s stock.

OLED has been the topic of several other reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Universal Display in a report on Wednesday, October 8th. Zacks Research raised shares of Universal Display from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $181.33.

Universal Display Stock Down 3.7%

OLED stock traded down $4.67 during mid-day trading on Friday, hitting $120.26. The company had a trading volume of 418,822 shares, compared to its average volume of 652,286. The company has a 50-day moving average price of $143.39 and a 200 day moving average price of $146.12. Universal Display has a 12-month low of $103.70 and a 12-month high of $179.51. The company has a market capitalization of $5.72 billion, a price-to-earnings ratio of 23.51, a P/E/G ratio of 4.38 and a beta of 1.60.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, November 6th. The semiconductor company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.27). The firm had revenue of $139.61 million for the quarter, compared to analysts’ expectations of $165.56 million. Universal Display had a net margin of 36.95% and a return on equity of 15.82%. The company’s revenue for the quarter was down 13.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.40 EPS. Universal Display has set its FY 2025 guidance at EPS. As a group, analysts expect that Universal Display will post 4.71 EPS for the current year.

Universal Display Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th will be issued a dividend of $0.45 per share. The ex-dividend date is Wednesday, December 17th. This represents a $1.80 dividend on an annualized basis and a yield of 1.5%. Universal Display’s payout ratio is presently 38.79%.

Institutional Trading of Universal Display

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Universal Display by 73.8% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,407,846 shares of the semiconductor company’s stock worth $614,806,000 after purchasing an additional 1,871,333 shares during the last quarter. Norges Bank bought a new position in Universal Display in the 2nd quarter worth about $124,480,000. Vanguard Group Inc. increased its position in shares of Universal Display by 10.0% during the third quarter. Vanguard Group Inc. now owns 5,069,107 shares of the semiconductor company’s stock worth $728,076,000 after acquiring an additional 460,792 shares during the period. Primecap Management Co. CA increased its position in shares of Universal Display by 20.7% during the second quarter. Primecap Management Co. CA now owns 2,215,308 shares of the semiconductor company’s stock worth $342,176,000 after acquiring an additional 379,586 shares during the period. Finally, FengHe Fund Management Pte. Ltd. bought a new stake in shares of Universal Display during the first quarter valued at approximately $41,147,000. 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.