Universal Display (NASDAQ:OLED) Shares Cross Below Two Hundred Day Moving Average – Time to Sell?

Shares of Universal Display Corporation (NASDAQ:OLED) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $135.11 and traded as low as $113.86. Universal Display shares last traded at $117.92, with a volume of 837,549 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Universal Display in a research note on Wednesday, December 24th. Zacks Research lowered Universal Display from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Wall Street Zen downgraded Universal Display from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $150.00 price target on shares of Universal Display in a report on Monday, December 22nd. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Universal Display presently has an average rating of “Hold” and a consensus target price of $177.60.

Universal Display Stock Up 1.5%

The firm has a fifty day moving average of $118.81 and a 200-day moving average of $135.11. The stock has a market capitalization of $5.61 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 3.26 and a beta of 1.62.

Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, November 6th. The semiconductor company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.27). The firm had revenue of $139.61 million during the quarter, compared to analyst estimates of $165.56 million. Universal Display had a net margin of 34.65% and a return on equity of 14.10%. The firm’s revenue for the quarter was down 13.6% on a year-over-year basis. During the same period last year, the company posted $1.40 EPS. As a group, research analysts forecast that Universal Display Corporation will post 4.71 EPS for the current fiscal year.

Universal Display Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.5%. The ex-dividend date was Wednesday, December 17th. Universal Display’s dividend payout ratio (DPR) is 38.79%.

Institutional Trading of Universal Display

Several large investors have recently modified their holdings of the business. Norges Bank purchased a new position in shares of Universal Display during the 2nd quarter worth approximately $124,480,000. Vanguard Group Inc. grew its holdings in Universal Display by 10.0% during the 3rd quarter. Vanguard Group Inc. now owns 5,069,107 shares of the semiconductor company’s stock valued at $728,076,000 after buying an additional 460,792 shares during the last quarter. Primecap Management Co. CA increased its position in Universal Display by 20.7% during the second quarter. Primecap Management Co. CA now owns 2,215,308 shares of the semiconductor company’s stock worth $342,176,000 after buying an additional 379,586 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new position in shares of Universal Display in the third quarter worth $32,962,000. Finally, Rafferty Asset Management LLC raised its holdings in shares of Universal Display by 63.2% in the second quarter. Rafferty Asset Management LLC now owns 574,161 shares of the semiconductor company’s stock worth $88,685,000 after acquiring an additional 222,327 shares during the last quarter. 78.19% of the stock is currently owned by institutional investors and hedge funds.

About Universal Display

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.