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

Universal Display Corporation (NASDAQ:OLED) has been given an average recommendation of “Hold” by the six research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $130.60.

OLED has been the subject of a number of research analyst reports. Citigroup cut their price objective on shares of Universal Display from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Zacks Research downgraded Universal Display from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 21st. Needham & Company LLC lowered their price target on Universal Display from $145.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. The Goldman Sachs Group set a $135.00 price target on Universal Display in a report on Tuesday, April 21st. Finally, Oppenheimer reduced their price objective on Universal Display from $160.00 to $130.00 and set an “outperform” rating for the company in a research report on Friday, May 1st.

Institutional Investors Weigh In On Universal Display

Institutional investors have recently bought and sold shares of the business. Focus Partners Wealth raised its stake in shares of Universal Display by 6.4% in the 1st quarter. Focus Partners Wealth now owns 3,680 shares of the semiconductor company’s stock valued at $513,000 after buying an additional 221 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Universal Display by 2.3% during the 2nd quarter. American Century Companies Inc. now owns 12,766 shares of the semiconductor company’s stock valued at $1,972,000 after acquiring an additional 285 shares in the last quarter. Invesco Ltd. boosted its position in shares of Universal Display by 1.8% during the 2nd quarter. Invesco Ltd. now owns 112,982 shares of the semiconductor company’s stock valued at $17,451,000 after acquiring an additional 2,040 shares in the last quarter. Marshall Wace LLP bought a new stake in Universal Display in the second quarter valued at about $2,220,000. Finally, Cresset Asset Management LLC increased its stake in Universal Display by 64.2% in the second quarter. Cresset Asset Management LLC now owns 2,512 shares of the semiconductor company’s stock valued at $388,000 after acquiring an additional 982 shares during the period. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Trading Up 0.1%

Shares of OLED stock opened at $79.69 on Friday. The firm has a market capitalization of $3.73 billion, a P/E ratio of 17.79 and a beta of 1.54. Universal Display has a 1 year low of $77.15 and a 1 year high of $154.07. The firm’s fifty day simple moving average is $87.75 and its 200 day simple moving average is $100.14.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings results on Thursday, April 30th. The semiconductor company reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.37). The company had revenue of $142.21 million during the quarter, compared to the consensus estimate of $161.23 million. Universal Display had a net margin of 34.08% and a return on equity of 12.34%. Universal Display’s revenue for the quarter was down 14.5% on a year-over-year basis. During the same period last year, the company earned $1.35 earnings per share. Equities research analysts anticipate that Universal Display will post 4.23 EPS for the current fiscal year.

Universal Display Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Tuesday, June 16th. Universal Display’s dividend payout ratio is presently 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.