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

Universal Display Corporation (NASDAQ:OLED) has earned an average recommendation of “Hold” from the six research firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $130.60.

OLED has been the subject of a number of research analyst reports. Needham & Company LLC cut their price target on shares of Universal Display from $145.00 to $120.00 and set a “buy” rating for the company in a report on Friday, May 1st. The Goldman Sachs Group set a $135.00 price target on shares of Universal Display in a report on Tuesday, April 21st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Universal Display in a report on Monday, March 23rd. Oppenheimer cut their price target on shares of Universal Display from $160.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Finally, Zacks Research downgraded shares of Universal Display from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st.

Hedge Funds Weigh In On Universal Display

A number of large investors have recently made changes to their positions in OLED. Norges Bank purchased a new position in shares of Universal Display in the 4th quarter valued at about $92,756,000. Vanguard Group Inc. increased its holdings in shares of Universal Display by 10.0% in the 3rd quarter. Vanguard Group Inc. now owns 5,069,107 shares of the semiconductor company’s stock valued at $728,076,000 after purchasing an additional 460,792 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Universal Display by 86.4% in the 4th quarter. JPMorgan Chase & Co. now owns 880,678 shares of the semiconductor company’s stock valued at $102,846,000 after purchasing an additional 408,315 shares in the last quarter. Analog Century Management LP purchased a new position in shares of Universal Display in the 4th quarter valued at about $46,914,000. Finally, UBS Group AG increased 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 acquiring an additional 324,677 shares in the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Stock Performance

Shares of Universal Display stock opened at $91.80 on Thursday. The company has a market cap of $4.29 billion, a P/E ratio of 20.49 and a beta of 1.54. Universal Display has a one year low of $83.64 and a one year high of $163.21. The firm has a fifty day moving average of $93.79 and a two-hundred day moving average of $108.22.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, April 30th. The semiconductor company reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.37). The firm had revenue of $142.21 million for the quarter, compared to analysts’ expectations of $161.23 million. Universal Display had a return on equity of 12.34% and a net margin of 34.08%.The firm’s quarterly revenue was down 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.35 EPS. As a group, equities analysts predict that Universal Display will post 4.23 earnings per share for the current year.

Universal Display Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, June 16th. Universal Display’s dividend payout ratio (DPR) is currently 44.64%.

About Universal Display

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.