Universal Display Corporation Declares Quarterly Dividend of $0.03 (OLED)
Universal Display Corporation (NASDAQ:OLED) declared a quarterly dividend on Friday, November 3rd, Wall Street Journal reports. Shareholders of record on Friday, December 15th will be paid a dividend of 0.03 per share by the semiconductor company on Friday, December 29th. This represents a $0.12 annualized dividend and a yield of 0.08%. The ex-dividend date of this dividend is Thursday, December 14th.
Shares of Universal Display Corporation (NASDAQ:OLED) traded up $15.40 on Friday, reaching $158.10. The company’s stock had a trading volume of 3,415,847 shares, compared to its average volume of 710,422. The company has a market cap of $6.79 billion, a price-to-earnings ratio of 70.76 and a beta of 1.03.
Universal Display Corporation (NASDAQ:OLED) last issued its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.19. The company had revenue of $61.70 million during the quarter, compared to the consensus estimate of $47.35 million. Universal Display Corporation had a return on equity of 17.08% and a net margin of 32.92%. Universal Display Corporation’s revenue was up 104.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.03) EPS. equities research analysts anticipate that Universal Display Corporation will post 2.09 earnings per share for the current year.
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Several brokerages have weighed in on OLED. BidaskClub downgraded Universal Display Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Universal Display Corporation in a report on Wednesday, August 9th. Cowen and Company set a $140.00 price target on Universal Display Corporation and gave the company a “buy” rating in a report on Wednesday, October 11th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $150.00 price target (up from $140.00) on shares of Universal Display Corporation in a report on Wednesday, August 9th. Finally, Susquehanna Bancshares Inc reiterated a “positive” rating and issued a $150.00 price target on shares of Universal Display Corporation in a report on Tuesday, September 5th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $134.78.
In other news, CFO Sidney D. Rosenblatt sold 50,240 shares of the company’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $135.02, for a total transaction of $6,783,404.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.20% of the company’s stock.
Universal Display Corporation Company Profile
Universal Display Corporation is engaged in the research, development and commercialization of organic light emitting diode (OLED), technologies and materials for use in display and solid-state lighting applications. The Company also supplies its OLED materials to manufacturers of OLED displays and lighting products for evaluation and for use in product development and for pre-commercial activities, and it also provides technical assistance and support to these manufacturers.
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