Needham analyst James Ricchiuti maintained a Buy rating on Universal Display (OLED – Research Report) today and set a price target of $140.00. The company’s shares closed last Thursday at $119.05, close to its 52-week low of $98.71.
According to TipRanks.com, Ricchiuti is a 5-star analyst with an average return of 17.9% and a 60.4% success rate. Ricchiuti covers the Technology sector, focusing on stocks such as Teledyne Technologies, Benchmark Electronics, and Shapeways Holdings.
Universal Display has an analyst consensus of Moderate Buy, with a price target consensus of $161.80, which is a 34.7% upside from current levels. In a report issued on July 27, Goldman Sachs also maintained a Buy rating on the stock with a $192.00 price target.
Based on Universal Display’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $150 million and net profit of $49.97 million. In comparison, last year the company earned revenue of $134 million and had a net profit of $51.69 million.
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Universal Display Corp. engages in research, development, and commercialization of organic light emitting diode, technologies, and materials. It also develops and licenses proprietary OLED technologies to manufacturers of products for display applications, such as cell phones; portable media devices; tablets; laptop computers and televisions; and specialty and general lighting products. The company was founded by Sherwin I. Seligsohn in 1994 and is headquartered in Ewing, NJ.
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