Universal Display (NASDAQ:OLED) Reaches New 52-Week Low – What’s Next?

Shares of Universal Display Corporation (NASDAQ:OLED) reached a new 52-week low on Thursday . The company traded as low as $99.43 and last traded at $99.52, with a volume of 248179 shares changing hands. The stock had previously closed at $101.52.

Analyst Ratings Changes

A number of equities analysts have commented on OLED shares. Wall Street Zen raised shares of Universal Display from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. Zacks Research cut Universal Display from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Roth Mkm reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Universal Display in a research note on Friday, February 20th. Needham & Company LLC cut their target price on Universal Display from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Universal Display in a research note on Wednesday, December 24th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $151.67.

Universal Display Stock Down 2.2%

The firm has a market cap of $4.68 billion, a PE ratio of 19.58, a price-to-earnings-growth ratio of 7.98 and a beta of 1.65. The stock has a 50 day moving average price of $117.79 and a two-hundred day moving average price of $128.41.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, February 19th. The semiconductor company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.11. The firm had revenue of $172.93 million for the quarter, compared to analyst estimates of $173.35 million. Universal Display had a net margin of 37.21% and a return on equity of 14.07%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.22 earnings per share. As a group, equities analysts anticipate that Universal Display Corporation will post 4.71 earnings per share for the current year.

Universal Display Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a $0.50 dividend. This is a boost from Universal Display’s previous quarterly dividend of $0.45. The ex-dividend date is Tuesday, March 17th. This represents a $2.00 annualized dividend and a yield of 2.0%. Universal Display’s dividend payout ratio is currently 39.45%.

Institutional Trading of Universal Display

Hedge funds and other institutional investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC lifted its position in Universal Display by 309.8% during the third quarter. Smartleaf Asset Management LLC now owns 209 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 158 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of Universal Display by 236.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 202 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 142 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new position in shares of Universal Display in the 3rd quarter valued at about $33,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Universal Display in the third quarter worth about $37,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in Universal Display during the second quarter worth about $39,000. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Company Profile

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.