Universal Display Corporation (NASDAQ:OLED) Announces $0.50 Quarterly Dividend

Universal Display Corporation (NASDAQ:OLED) announced a quarterly dividend on Thursday, April 30th. Shareholders of record on Tuesday, June 16th will be given a dividend of 0.50 per share by the semiconductor company on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, June 16th.

Universal Display has raised its dividend payment by an average of 0.2%per year over the last three years and has increased its dividend annually for the last 8 consecutive years. Universal Display has a dividend payout ratio of 35.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Universal Display to earn $5.40 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 37.0%.

Universal Display Trading Up 11.0%

OLED traded up $9.61 during midday trading on Friday, reaching $96.70. The company’s stock had a trading volume of 1,991,771 shares, compared to its average volume of 787,321. The stock has a market cap of $4.52 billion, a P/E ratio of 19.03, a PEG ratio of 7.27 and a beta of 1.65. The company has a fifty day simple moving average of $96.82 and a 200 day simple moving average of $115.15. Universal Display has a twelve month low of $83.64 and a twelve month high of $163.21.

Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, April 30th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.37). The business had revenue of $142.21 million during the quarter, compared to analyst estimates of $161.23 million. Universal Display had a net margin of 37.21% and a return on equity of 14.07%. The business’s quarterly revenue was down 14.5% compared to the same quarter last year. During the same period last year, the business earned $1.35 EPS. Sell-side analysts expect that Universal Display will post 4.82 earnings per share for the current year.

Analysts Set New Price Targets

OLED has been the topic of several recent research reports. Citigroup decreased their price objective on Universal Display from $130.00 to $105.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. Weiss Ratings reissued a “hold (c-)” rating on shares of Universal Display in a report on Monday, March 23rd. Zacks Research lowered Universal Display from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. The Goldman Sachs Group set a $135.00 price objective on Universal Display in a report on Tuesday, April 21st. Finally, Roth Mkm set a $168.00 price objective on Universal Display in a report on Friday. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Universal Display presently has an average rating of “Hold” and an average price target of $132.00.

Universal Display Company Profile

Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.