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

Shares of Universal Display Corporation (NASDAQ:OLED) have been given a consensus recommendation of “Hold” by the eight research firms that are presently covering the firm, Marketbeat Ratings reports. One research 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 target price among brokerages that have issued a report on the stock in the last year is $116.3333.

A number of brokerages recently issued reports on OLED. Oppenheimer reissued an “outperform” rating and issued a $120.00 price objective (down from $130.00) on shares of Universal Display in a report on Friday, July 31st. Needham & Company LLC reduced their price target on Universal Display from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Weiss Ratings cut Universal Display from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Citigroup decreased their price target on 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, Zacks Research raised Universal Display from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th.

Institutional Trading of Universal Display

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. XXEC Inc. bought a new position in shares of Universal Display in the second quarter valued at approximately $2,508,286,000. California State Teachers Retirement System raised its holdings in Universal Display by 8,176.2% during the second quarter. California State Teachers Retirement System now owns 4,339,198 shares of the semiconductor company’s stock worth $375,731,000 after purchasing an additional 4,286,768 shares in the last quarter. BlackRock Inc. bought a new stake in Universal Display during the second quarter worth approximately $373,931,000. Primecap Management Co. CA acquired a new stake in Universal Display in the second quarter worth approximately $190,136,000. Finally, State Street Corp lifted its position in 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 purchasing an additional 69,163 shares during the period. 78.19% of the stock is currently owned by institutional investors.

Universal Display Stock Down 2.9%

Universal Display stock opened at $79.91 on Friday. Universal Display has a 52-week low of $76.42 and a 52-week high of $153.38. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of 19.35 and a beta of 1.56. The firm has a 50-day moving average price of $83.35 and a two-hundred day moving average price of $90.19.

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

Universal Display Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Wednesday, September 16th. Universal Display’s dividend payout ratio is currently 48.43%.

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.