Universal Display Co. (NASDAQ:OLED) Announces Dividend Increase – $0.06 Per Share

Universal Display Co. (NASDAQ:OLED) announced a quarterly dividend on Friday, February 23rd, Wall Street Journal reports. Investors of record on Thursday, March 15th will be paid a dividend of 0.06 per share by the semiconductor company on Friday, March 30th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend is Wednesday, March 14th. This is an increase from Universal Display’s previous quarterly dividend of $0.03.

OLED stock traded up $3.10 during mid-day trading on Wednesday, hitting $100.70. 1,435,852 shares of the company were exchanged, compared to its average volume of 1,723,641. The firm has a market cap of $4,589.78, a PE ratio of 41.44 and a beta of 1.31. Universal Display has a 12-month low of $80.80 and a 12-month high of $209.00.

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Universal Display (NASDAQ:OLED) last issued its earnings results on Thursday, February 22nd. The semiconductor company reported $0.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.11. The firm had revenue of $115.87 million for the quarter, compared to analysts’ expectations of $99.55 million. Universal Display had a net margin of 30.95% and a return on equity of 18.80%. The firm’s revenue was up 55.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.55 earnings per share. sell-side analysts anticipate that Universal Display will post 2.66 EPS for the current fiscal year.

In other news, Chairman Sherwin I. Seligsohn sold 50,000 shares of the stock in a transaction on Friday, January 12th. The stock was sold at an average price of $200.00, for a total value of $10,000,000.00. Following the completion of the transaction, the chairman now owns 143,119 shares of the company’s stock, valued at $28,623,800. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Elizabeth H. Gemmill sold 2,500 shares of the stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $124.07, for a total value of $310,175.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,750 shares of company stock worth $10,601,775. Corporate insiders own 5.20% of the company’s stock.

OLED has been the topic of a number of analyst reports. Deutsche Bank reiterated a “buy” rating and issued a $190.00 price objective on shares of Universal Display in a research report on Thursday, January 25th. Zacks Investment Research raised Universal Display from a “hold” rating to a “buy” rating and set a $228.00 price target for the company in a research note on Friday, January 19th. Cowen set a $225.00 target price on shares of Universal Display and gave the company a “buy” rating in a research note on Tuesday, February 20th. Needham & Company LLC raised shares of Universal Display from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research note on Tuesday, February 20th. They noted that the move was a valuation call. Finally, Gabelli upgraded Universal Display from a “hold” rating to a “buy” rating in a report on Tuesday, March 20th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Universal Display currently has a consensus rating of “Hold” and an average target price of $169.73.

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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 flat panel displays and solid-state lighting applications. As of February 22, 2018, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 4,500 issued and pending patents worldwide.

Dividend History for Universal Display (NASDAQ:OLED)

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