Universal Display Co. Declares Quarterly Dividend of $0.40 (NASDAQ:OLED)

Universal Display Co. (NASDAQ:OLED) declared a quarterly dividend on Thursday, August 1st, Zacks reports. Shareholders of record on Monday, September 16th will be paid a dividend of 0.40 per share by the semiconductor company on Monday, September 30th. This represents a $1.60 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Monday, September 16th.

Universal Display has increased its dividend by an average of 32.6% annually over the last three years. Universal Display has a payout ratio of 28.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Universal Display to earn $5.28 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 30.3%.

Universal Display Trading Down 19.0 %

Shares of OLED stock traded down $40.39 on Friday, hitting $172.28. 1,293,682 shares of the stock were exchanged, compared to its average volume of 426,508. The firm’s 50 day moving average is $207.25 and its two-hundred day moving average is $182.81. Universal Display has a one year low of $133.67 and a one year high of $237.00. The firm has a market capitalization of $8.17 billion, a PE ratio of 37.45, a P/E/G ratio of 2.29 and a beta of 1.42.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.04). Universal Display had a net margin of 35.74% and a return on equity of 15.48%. The business had revenue of $158.50 million during the quarter, compared to the consensus estimate of $159.46 million. During the same period last year, the firm earned $1.04 EPS. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, sell-side analysts expect that Universal Display will post 4.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Susquehanna upped their price target on Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a research report on Friday. Roth Mkm upped their price target on shares of Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a report on Friday. TD Cowen lifted their price objective on Universal Display from $210.00 to $250.00 and gave the company a “buy” rating in a research note on Friday. Needham & Company LLC upped their price objective on shares of Universal Display from $198.00 to $242.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Finally, Oppenheimer raised their target price on shares of Universal Display from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, July 3rd. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Universal Display currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.88.

Insider Activity

In other Universal Display news, SVP Mauro Premutico sold 8,202 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $176.82, for a total transaction of $1,450,277.64. Following the completion of the transaction, the senior vice president now owns 28,743 shares of the company’s stock, valued at $5,082,337.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Mauro Premutico sold 8,202 shares of Universal Display stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $176.82, for a total value of $1,450,277.64. Following the completion of the sale, the senior vice president now directly owns 28,743 shares in the company, valued at approximately $5,082,337.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Julia J. Brown sold 10,358 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $175.00, for a total transaction of $1,812,650.00. Following the sale, the executive vice president now directly owns 56,624 shares in the company, valued at approximately $9,909,200. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.

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.