Universal Display (NASDAQ:OLED) Reaches New 1-Year Low – What’s Next?

Universal Display Corporation (NASDAQ:OLED) hit a new 52-week low on Wednesday . The company traded as low as $82.83 and last traded at $83.05, with a volume of 654077 shares trading hands. The stock had previously closed at $86.59.

Wall Street Analysts Forecast Growth

OLED has been the subject of several recent research reports. Needham & Company LLC lowered their price target on Universal Display from $145.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Weiss Ratings reissued a “hold (c-)” rating on shares of Universal Display in a research report on Thursday, June 18th. The Goldman Sachs Group set a $135.00 price target on shares of Universal Display in a report on Tuesday, April 21st. Oppenheimer decreased their price objective on Universal Display from $160.00 to $130.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. Finally, Zacks Research lowered shares of Universal Display from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 21st. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $130.60.

Universal Display Price Performance

The firm’s 50-day moving average is $90.72 and its 200-day moving average is $102.84. The company has a market cap of $3.68 billion, a PE ratio of 17.57 and a beta of 1.54.

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

Universal Display Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, June 16th. Universal Display’s payout ratio is 44.64%.

Hedge Funds Weigh In On Universal Display

Institutional investors have recently bought and sold shares of the stock. Measured Wealth Private Client Group LLC purchased a new stake in Universal Display in the 3rd quarter worth $33,000. RHL Group LLC purchased a new position in shares of Universal Display during the fourth quarter valued at about $60,000. Canada Pension Plan Investment Board purchased a new position in shares of Universal Display during the second quarter valued at about $62,000. UMB Bank n.a. increased its holdings in shares of Universal Display by 28.3% in the fourth quarter. UMB Bank n.a. now owns 549 shares of the semiconductor company’s stock worth $64,000 after purchasing an additional 121 shares during the last quarter. Finally, Global X Japan Co. Ltd. increased its holdings in shares of Universal Display by 61.6% in the fourth quarter. Global X Japan Co. Ltd. now owns 580 shares of the semiconductor company’s stock worth $68,000 after purchasing an additional 221 shares during the last quarter. 78.19% of the stock is owned by hedge funds and other institutional investors.

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.