Universal Display (NASDAQ:OLED) Sets New 1-Year Low After Earnings Miss

Shares of Universal Display Corporation (NASDAQ:OLED) hit a new 52-week low during trading on Thursday following a dissappointing earnings announcement. The stock traded as low as $85.22 and last traded at $85.9130, with a volume of 979933 shares traded. The stock had previously closed at $89.63.

The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.37). The company had revenue of $142.21 million for the quarter, compared to the consensus estimate of $161.35 million. Universal Display had a net margin of 37.21% and a return on equity of 14.07%.

Universal Display Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were paid a dividend of $0.50 per share. This is a boost from Universal Display’s previous quarterly dividend of $0.45. The ex-dividend date was Tuesday, March 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.3%. Universal Display’s dividend payout ratio is presently 39.45%.

Analyst Ratings Changes

OLED has been the subject of a number of recent research reports. Needham & Company LLC cut their price objective on Universal Display from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Friday, February 20th. Citigroup cut their price objective on Universal Display from $130.00 to $105.00 and set a “neutral” rating for the company in a research note on Tuesday, April 14th. Roth Mkm reiterated a “buy” rating and set a $180.00 price objective on shares of Universal Display in a research note on Friday, February 20th. Wall Street Zen upgraded Universal Display from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. Finally, The Goldman Sachs Group set a $135.00 price objective on Universal Display in a research note on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $141.25.

Institutional Investors Weigh In On Universal Display

A number of institutional investors have recently added to or reduced their stakes in OLED. Norges Bank purchased a new stake in Universal Display during the 4th quarter valued at approximately $92,756,000. 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 in the last quarter. JPMorgan Chase & Co. grew its holdings in Universal Display by 86.4% during the 4th quarter. JPMorgan Chase & Co. now owns 880,678 shares of the semiconductor company’s stock valued at $102,846,000 after buying an additional 408,315 shares in the last quarter. Analog Century Management LP purchased a new stake in Universal Display during the 4th quarter valued at approximately $46,914,000. Finally, UBS Group AG grew its holdings in Universal Display by 100.8% during the 4th quarter. UBS Group AG now owns 646,787 shares of the semiconductor company’s stock valued at $75,532,000 after buying an additional 324,677 shares in the last quarter. 78.19% of the stock is owned by hedge funds and other institutional investors.

Universal Display Stock Performance

The business’s fifty day simple moving average is $97.42 and its 200-day simple moving average is $115.34. The firm has a market capitalization of $4.07 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 7.70 and a beta of 1.65.

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.