Universal Display (NASDAQ:OLED) Sets New 1-Year Low – Here’s Why

Universal Display Corporation (NASDAQ:OLED)’s share price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $86.62 and last traded at $87.18, with a volume of 17154 shares traded. The stock had previously closed at $89.61.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OLED. Wall Street Zen upgraded shares of Universal Display from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Citigroup cut their price target on shares of 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 reiterated a “hold (c-)” rating on shares of Universal Display in a report on Monday, March 23rd. 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. Finally, Needham & Company LLC cut their target price on Universal Display from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Friday, February 20th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $151.67.

Universal Display Price Performance

The company has a market cap of $4.14 billion, a PE ratio of 17.31, a price-to-earnings-growth ratio of 7.20 and a beta of 1.65. The company’s 50 day simple moving average is $107.49 and its two-hundred day simple moving average is $121.97.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, February 19th. The semiconductor company reported $1.39 EPS for the quarter, topping the consensus estimate of $1.28 by $0.11. Universal Display had a net margin of 37.21% and a return on equity of 14.07%. The firm had revenue of $172.93 million for the quarter, compared to analyst estimates of $173.35 million. During the same period in the prior year, the business posted $1.22 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. Sell-side analysts expect that Universal Display Corporation will post 4.71 EPS for the current fiscal year.

Universal Display Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were given a dividend of $0.50 per share. This is an increase from Universal Display’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Tuesday, March 17th. Universal Display’s dividend payout ratio (DPR) is 39.45%.

Institutional Investors Weigh In On Universal Display

Several institutional investors and hedge funds have recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its stake in Universal Display by 309.8% during the 3rd quarter. Smartleaf Asset Management LLC now owns 209 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 158 shares in the last quarter. Measured Wealth Private Client Group LLC acquired a new position in Universal Display in the 3rd quarter valued at about $33,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in Universal Display during the third quarter worth about $37,000. Rise Advisors LLC increased its stake in Universal Display by 53.3% during the third quarter. Rise Advisors LLC now owns 299 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 104 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in shares of Universal Display by 27.2% during the third quarter. Farther Finance Advisors LLC now owns 351 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

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.