Fintel reports that on September 13, 2023, Needham reiterated coverage of Universal Display (NASDAQ:OLED) with a Buy recommendation.
Analyst Price Forecast Suggests 12.25% Upside
As of August 31, 2023, the average one-year price target for Universal Display is 179.35. The forecasts range from a low of 151.50 to a high of $205.80. The average price target represents an increase of 12.25% from its latest reported closing price of 159.78.
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The projected annual revenue for Universal Display is 646MM, an increase of 6.54%. The projected annual non-GAAP EPS is 4.26.
What is the Fund Sentiment?
There are 825 funds or institutions reporting positions in Universal Display. This is an increase of 5 owner(s) or 0.61% in the last quarter. Average portfolio weight of all funds dedicated to OLED is 0.23%, a decrease of 19.73%. Total shares owned by institutions increased in the last three months by 1.07% to 42,913K shares. 
The put/call ratio of OLED is 0.78, indicating a bullish outlook.
What are Other Shareholders Doing?
Primecap Management holds 2,046K shares representing 4.32% ownership of the company. In it's prior filing, the firm reported owning 2,079K shares, representing a decrease of 1.62%. The firm decreased its portfolio allocation in OLED by 12.39% over the last quarter.
Ubs Asset Management Americas holds 1,925K shares representing 4.07% ownership of the company. No change in the last quarter.
Alliancebernstein holds 1,435K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 1,341K shares, representing an increase of 6.59%. The firm decreased its portfolio allocation in OLED by 5.20% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,408K shares representing 2.97% ownership of the company. In it's prior filing, the firm reported owning 1,315K shares, representing an increase of 6.58%. The firm decreased its portfolio allocation in OLED by 8.24% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 1,321K shares representing 2.79% ownership of the company. In it's prior filing, the firm reported owning 1,341K shares, representing a decrease of 1.49%. The firm decreased its portfolio allocation in OLED by 12.31% over the last quarter.
Universal Display Background Information
(This description is provided by the company.)
Universal Display Corporation is a leader in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials for use in display, solid-state lighting applications with subsidiaries and offices around the world. Founded in 1994, the Company currently owns, exclusively licenses or has the sole right to sublicense more than 5,000 patents issued and pending worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED® phosphorescent OLED technology that can enable the development of energy-efficient and eco-friendly displays and solid-state lighting. The Company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the fabrication of OLEDs with peak performance. In addition, Universal Display delivers innovative and customized solutions to its clients and partners through technology transfer, collaborative technology development and on-site training.
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