Universal Display (NASDAQ:OLED) Trading Up 11.4% After Earnings Beat

Universal Display Co. (NASDAQ:OLED)’s stock price was up 11.4% during trading on Thursday following a better than expected earnings announcement. The stock traded as high as $137.95 and last traded at $139.93. Approximately 839,592 shares changed hands during mid-day trading, an increase of 48% from the average daily volume of 565,619 shares. The stock had previously closed at $125.63.

The semiconductor company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.28. The company had revenue of $166.28 million during the quarter, compared to analysts’ expectations of $154.76 million. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. Universal Display’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.19 EPS.

Universal Display Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a $0.45 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $1.80 annualized dividend and a yield of 1.25%. Universal Display’s dividend payout ratio (DPR) is 37.42%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. StockNews.com upgraded Universal Display from a “sell” rating to a “hold” rating in a report on Friday. The Goldman Sachs Group lowered their price target on shares of Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Needham & Company LLC reissued a “buy” rating and set a $170.00 price objective on shares of Universal Display in a report on Friday. Susquehanna lowered their target price on Universal Display from $165.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, February 21st. Finally, Citigroup reduced their price target on Universal Display from $200.00 to $162.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Universal Display has a consensus rating of “Moderate Buy” and an average price target of $190.43.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in OLED. Orion Capital Management LLC acquired a new position in shares of Universal Display during the fourth quarter valued at about $29,000. Brown Brothers Harriman & Co. lifted its stake in shares of Universal Display by 280.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 209 shares of the semiconductor company’s stock worth $31,000 after buying an additional 154 shares during the period. Golden State Wealth Management LLC increased its position in shares of Universal Display by 4,700.0% in the 1st quarter. Golden State Wealth Management LLC now owns 240 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 235 shares during the period. Blue Trust Inc. increased its position in shares of Universal Display by 401.9% in the 4th quarter. Blue Trust Inc. now owns 261 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 209 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Universal Display during the 4th quarter worth about $40,000. 78.19% of the stock is owned by institutional investors and hedge funds.

Universal Display Stock Performance

The company has a 50 day simple moving average of $135.55 and a two-hundred day simple moving average of $152.60. The firm has a market cap of $6.85 billion, a PE ratio of 30.97, a P/E/G ratio of 1.61 and a beta of 1.46.

About Universal Display

Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.