Universal Display Corporation (NASDAQ:OLED) Given Consensus Recommendation of “Hold” by Analysts

Universal Display Corporation (NASDAQ:OLED) has been assigned an average rating of “Hold” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $116.3333.

OLED has been the topic of several research analyst reports. BTIG Research lowered shares of Universal Display to a “neutral” rating in a research report on Friday, July 31st. Weiss Ratings downgraded shares of Universal Display from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 28th. Zacks Research upgraded shares of Universal Display from a “strong sell” rating to a “hold” rating in a report on Thursday. Citigroup reduced their price objective on shares of Universal Display from $100.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday, August 3rd. Finally, The Goldman Sachs Group set a $135.00 price objective on shares of Universal Display in a report on Tuesday, April 21st.

Universal Display Stock Down 2.2%

NASDAQ OLED opened at $88.92 on Tuesday. The stock has a market capitalization of $4.09 billion, a P/E ratio of 21.53 and a beta of 1.54. Universal Display has a 52-week low of $76.42 and a 52-week high of $153.38. The firm has a 50-day moving average price of $84.74 and a 200 day moving average price of $94.98.

Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.03. The company had revenue of $152.16 million for the quarter, compared to analysts’ expectations of $157.54 million. Universal Display had a return on equity of 11.35% and a net margin of 32.24%.The firm’s quarterly revenue was down 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.41 EPS. On average, equities research analysts expect that Universal Display will post 4.18 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Wednesday, September 16th. Universal Display’s dividend payout ratio (DPR) is presently 48.43%.

Institutional Investors Weigh In On Universal Display

Several institutional investors have recently modified their holdings of OLED. Caisse de depot et placement du Quebec acquired a new position in Universal Display during the second quarter worth $615,000. Man Group plc acquired a new stake in Universal Display in the second quarter valued at $13,883,000. Jupiter Topco LLC acquired a new stake in Universal Display in the second quarter valued at $2,610,000. Primecap Management Co. CA purchased a new position in shares of Universal Display in the second quarter valued at $190,136,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Universal Display in the second quarter valued at $31,796,000. Hedge funds and other institutional investors own 78.19% of the company’s stock.

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.