TD Cowen Cuts Universal Display (NASDAQ:OLED) Price Target to $225.00

Universal Display (NASDAQ:OLED) had its price target decreased by TD Cowen from $250.00 to $225.00 in a note issued to investors on Thursday, Briefing.com reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. TD Cowen’s price objective points to a potential upside of 10.75% from the company’s previous close.

OLED has been the subject of several other research reports. Oppenheimer lifted their price objective on shares of Universal Display from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 3rd. The Goldman Sachs Group boosted their price target on Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Roth Mkm raised their price objective on Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Susquehanna upped their target price on Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $222.75.

Universal Display Trading Down 5.0 %

Shares of NASDAQ OLED opened at $203.16 on Thursday. The firm has a market cap of $9.64 billion, a P/E ratio of 44.17, a price-to-earnings-growth ratio of 2.16 and a beta of 1.42. The business’s 50 day moving average is $201.79 and its 200-day moving average is $193.89. Universal Display has a 1-year low of $133.67 and a 1-year high of $237.00.

Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, August 1st. The semiconductor company reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.04). Universal Display had a return on equity of 15.25% and a net margin of 35.74%. The firm had revenue of $158.50 million for the quarter, compared to analyst estimates of $159.46 million. During the same period in the prior year, the business posted $1.04 EPS. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. Analysts forecast that Universal Display will post 4.81 EPS for the current year.

Institutional Trading of Universal Display

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Universal Display by 1.1% during the first quarter. Vanguard Group Inc. now owns 4,567,374 shares of the semiconductor company’s stock worth $769,374,000 after acquiring an additional 50,233 shares in the last quarter. Primecap Management Co. CA increased its position in Universal Display by 0.4% during the 2nd quarter. Primecap Management Co. CA now owns 1,895,017 shares of the semiconductor company’s stock worth $398,427,000 after purchasing an additional 7,435 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Universal Display in the second quarter valued at approximately $127,668,000. Van ECK Associates Corp grew its stake in shares of Universal Display by 27.2% during the third quarter. Van ECK Associates Corp now owns 507,440 shares of the semiconductor company’s stock worth $101,914,000 after buying an additional 108,394 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Universal Display by 27.3% during the second quarter. Dimensional Fund Advisors LP now owns 469,570 shares of the semiconductor company’s stock worth $98,725,000 after buying an additional 100,809 shares in the last quarter. 78.19% of the stock is currently owned by 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 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.