Universal Display Corporation (NASDAQ:OLED) Given Average Rating of “Hold” by Brokerages

Shares of Universal Display Corporation (NASDAQ:OLED) have been given an average recommendation of “Hold” by the six research firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $130.60.

Several equities research analysts have recently weighed in on OLED shares. Citigroup reduced their price objective on Universal Display from $105.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. Needham & Company LLC decreased their target price on Universal Display from $145.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Oppenheimer decreased their target price on Universal Display from $160.00 to $130.00 and set an “outperform” rating for the company in a research report on Friday, May 1st. Zacks Research cut Universal Display from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 21st. Finally, Roth Mkm set a $168.00 target price on Universal Display in a research report on Friday, May 1st.

Institutional Trading of Universal Display

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Universal Display by 10.0% in the third quarter. Vanguard Group Inc. now owns 5,069,107 shares of the semiconductor company’s stock worth $728,076,000 after buying an additional 460,792 shares during the period. Primecap Management Co. CA boosted its position in shares of Universal Display by 1.9% in the third quarter. Primecap Management Co. CA now owns 2,258,378 shares of the semiconductor company’s stock worth $324,371,000 after buying an additional 43,070 shares during the period. State Street Corp boosted its position in shares of Universal Display by 4.3% in the fourth quarter. State Street Corp now owns 1,694,779 shares of the semiconductor company’s stock worth $197,916,000 after buying an additional 69,163 shares during the period. Geode Capital Management LLC boosted its position in shares of Universal Display by 25.0% in the fourth quarter. Geode Capital Management LLC now owns 1,109,077 shares of the semiconductor company’s stock worth $129,537,000 after buying an additional 222,108 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of Universal Display by 21.1% in the first quarter. First Trust Advisors LP now owns 976,423 shares of the semiconductor company’s stock worth $89,499,000 after buying an additional 169,969 shares during the period. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Price Performance

OLED opened at $87.16 on Monday. The firm has a market cap of $4.07 billion, a PE ratio of 19.46 and a beta of 1.54. The business has a fifty day simple moving average of $91.98 and a 200-day simple moving average of $103.88. Universal Display has a fifty-two week low of $83.64 and a fifty-two week high of $162.36.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Thursday, April 30th. The semiconductor company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.37). The company had revenue of $142.21 million for the quarter, compared to the consensus estimate of $161.23 million. Universal Display had a return on equity of 12.34% and a net margin of 34.08%.The business’s revenue was down 14.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.35 earnings per share. On average, equities research analysts anticipate that Universal Display will post 4.23 EPS for the current fiscal year.

Universal Display Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, June 16th. Universal Display’s dividend payout ratio (DPR) is 44.64%.

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.