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

Universal Display Corporation (NASDAQ:OLED)’s stock price hit 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. The stock had previously closed at $101.52.

Analyst Ratings Changes

OLED has been the subject of a number of research analyst reports. Wall Street Zen upgraded Universal Display from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Needham & Company LLC decreased their price objective on Universal Display from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Friday, February 20th. Citigroup cut their price objective on Universal Display from $150.00 to $130.00 and set a “neutral” rating for the company in a report on Tuesday, January 27th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Universal Display in a report on Wednesday, December 24th. Finally, Roth Mkm reiterated a “buy” rating and issued a $180.00 price objective on shares of Universal Display in a research report on Friday, February 20th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $151.67.

Universal Display Stock Performance

The business has a 50 day moving average of $117.79 and a 200-day moving average of $128.41. The company has a market capitalization of $4.68 billion, a P/E ratio of 19.58, a price-to-earnings-growth ratio of 7.98 and a beta of 1.65.

Universal Display (NASDAQ:OLED) last announced its earnings results on Thursday, February 19th. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.11. The company had revenue of $172.93 million during 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 firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.22 earnings per share. As a group, equities analysts forecast that Universal Display Corporation will post 4.71 EPS for the current fiscal year.

Universal Display Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be paid a $0.50 dividend. This is an increase from Universal Display’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, March 17th. Universal Display’s payout ratio is currently 39.45%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Smartleaf Asset Management LLC boosted its holdings in Universal Display by 309.8% in the third quarter. Smartleaf Asset Management LLC now owns 209 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 158 shares during the last quarter. Parkside Financial Bank & Trust lifted 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 in the last quarter. Measured Wealth Private Client Group LLC purchased a new position in Universal Display in the 3rd quarter worth approximately $33,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Universal Display in the 3rd quarter valued at $37,000. Finally, Atlantic Union Bankshares Corp purchased a new position in Universal Display during the 2nd quarter valued at approximately $39,000. 78.19% of the stock is owned by institutional investors.

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.