Universal Display (NASDAQ:OLED) Trading Down 8.8% – Should You Sell?

Shares of Universal Display Corporation (NASDAQ:OLED) were down 8.8% during trading on Monday . The company traded as low as $76.25 and last traded at $76.2290. Approximately 735,394 shares were traded during mid-day trading, a decline of 8% from the average session volume of 797,644 shares. The stock had previously closed at $83.56.

Analysts Set New Price Targets

OLED has been the topic of a number of analyst reports. Citigroup decreased their target price on shares of Universal Display from $100.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, August 3rd. Susquehanna reduced their price target on shares of Universal Display from $110.00 to $90.00 and set a “neutral” rating on the stock in a research report on Friday, July 31st. Weiss Ratings lowered Universal Display from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Needham & Company LLC lowered their price target on shares of Universal Display from $120.00 to $100.00 and set a “buy” rating for the company in a report on Friday, July 31st. Finally, Oppenheimer reissued an “outperform” rating and issued a $120.00 price target (down from $130.00) on shares of Universal Display in a research note on Friday, July 31st. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Universal Display has a consensus rating of “Hold” and an average price target of $116.33.

Universal Display Stock Down 9.1%

The firm has a 50 day moving average of $83.49 and a 200 day moving average of $89.90. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of 18.40 and a beta of 1.56.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.03. Universal Display had a net margin of 32.24% and a return on equity of 11.35%. The business had revenue of $152.16 million during the quarter, compared to analysts’ expectations of $157.54 million. During the same period last year, the company posted $1.41 earnings per share. The business’s quarterly revenue was down 11.4% on a year-over-year basis. Equities analysts expect that Universal Display Corporation will post 4.17 EPS for the current year.

Universal Display Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.00 annualized dividend and a yield of 2.6%. Universal Display’s dividend payout ratio (DPR) is 48.43%.

Hedge Funds Weigh In On Universal Display

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Focus Partners Wealth boosted its stake in Universal Display by 6.4% in the 1st quarter. Focus Partners Wealth now owns 3,680 shares of the semiconductor company’s stock worth $513,000 after purchasing an additional 221 shares in the last quarter. American Century Companies Inc. grew its position in shares of Universal Display by 2.3% during the 2nd quarter. American Century Companies Inc. now owns 12,766 shares of the semiconductor company’s stock valued at $1,972,000 after acquiring an additional 285 shares during the period. Invesco Ltd. lifted its position in shares of Universal Display by 1.8% during the 2nd quarter. Invesco Ltd. now owns 112,982 shares of the semiconductor company’s stock valued at $17,451,000 after buying an additional 2,040 shares in the last quarter. Marshall Wace LLP bought a new stake in Universal Display during the 2nd quarter valued at approximately $2,220,000. Finally, Cresset Asset Management LLC raised its holdings in Universal Display by 64.2% during the 2nd quarter. Cresset Asset Management LLC now owns 2,512 shares of the semiconductor company’s stock valued at $388,000 after buying an additional 982 shares during the period. Institutional investors own 78.19% of the company’s stock.

Universal Display Company Profile

Universal Display Corporation (NASDAQ: OLED) develops and commercializes organic light-emitting diode (OLED) technologies and materials. The company’s business is centered on high-efficiency phosphorescent OLED (PHOLED) technology, which is designed to improve the performance and energy efficiency of OLED displays and lighting products.

Universal Display supplies OLED emitter materials and other related products to manufacturers and provides technology licenses, technical assistance and support under agreements covering its intellectual property.