Universal Display Corporation (NASDAQ:OLED) Receives Average Recommendation of “Hold” from Analysts

Shares of Universal Display Corporation (NASDAQ:OLED) have been given a consensus rating of “Hold” by the six analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average 1-year 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 reports. Roth Mkm set a $168.00 target price on shares of Universal Display in a research note on Friday, May 1st. Citigroup cut their target price on shares of Universal Display from $105.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, May 4th. Oppenheimer cut their target price on shares of Universal Display from $160.00 to $130.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. Needham & Company LLC cut their target price on shares of Universal Display from $145.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Finally, Wall Street Zen raised shares of Universal Display from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd.

Universal Display Stock Performance

OLED stock opened at $95.34 on Thursday. The firm has a market cap of $4.46 billion, a PE ratio of 21.28 and a beta of 1.54. The firm’s fifty day moving average is $93.73 and its 200 day moving average is $107.64. Universal Display has a one year low of $83.64 and a one year high of $163.21.

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

Universal Display Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.1%. Universal Display’s payout ratio is currently 44.64%.

Hedge Funds Weigh In On Universal Display

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vestor Capital LLC boosted its position in Universal Display by 968.4% during the first quarter. Vestor Capital LLC now owns 3,045 shares of the semiconductor company’s stock worth $279,000 after acquiring an additional 2,760 shares during the last quarter. Bank of America Corp DE boosted its position in Universal Display by 3.2% during the first quarter. Bank of America Corp DE now owns 124,570 shares of the semiconductor company’s stock worth $11,418,000 after acquiring an additional 3,872 shares during the last quarter. Edgestream Partners L.P. acquired a new position in Universal Display during the first quarter worth about $969,000. Amundi boosted its position in Universal Display by 54.0% during the first quarter. Amundi now owns 459,316 shares of the semiconductor company’s stock worth $42,079,000 after acquiring an additional 161,069 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in Universal Display by 22.6% during the first quarter. California State Teachers Retirement System now owns 52,430 shares of the semiconductor company’s stock worth $4,806,000 after acquiring an additional 9,665 shares during the last quarter. 78.19% of the stock is currently owned by institutional investors and hedge funds.

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.