10 Best Mid Cap Tech Stocks to Buy Now

8. Universal Display Corporation (NASDAQ:OLED) 

Upside Potential: 18.11%

Market Capitalization: $7.06 Billion

Number of Hedge Fund Holders: 3o

Universal Display Corporation (NASDAQ:OLED) manufactures OLED (Organic Light Emitting Diode) technology, which is essential in displays for electronics like smartphones, televisions, and smartwatches, among others. The company makes money through royalties and licensing fees from these companies. Universal Display Corporation (NASDAQ:OLED)  also makes and sells materials required to make the OLED displays. The company also sells them to competing display manufacturers.

The company’s revenue has been growing steadily, and it is highly profitable with a net margin of a solid 34.2%. On January 2, 2025, Oppenheimer analyst Martin Yang reiterated the firm’s outperform rating on the stock. However, it reduced its price target to $200 from $220. That said,  Yang said that his conviction on the stock to outperform over the next 12 months is higher than before, despite the stock’s disappointing performance since the disappointing earnings result in Q3.

Oppenheimer believes the current price has priced in the near-term weakness in the markets for OLED displays. While Oppenheimer expects the management to report soft guidance for the current year, analysts expect the company’s revenue to grow by 14%.