Universal Display (NASDAQ:OLED) Hits New 12-Month Low – Time to Sell?

Shares of Universal Display Corporation (NASDAQ:OLED) hit a new 52-week low during trading on Wednesday . The stock 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.

Analysts Set New Price Targets

A number of research firms have recently commented on OLED. Needham & Company LLC dropped their price target on shares of Universal Display from $145.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Universal Display in a research note on Thursday, June 18th. Zacks Research downgraded shares of Universal Display from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. 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 report on Monday, May 4th. Finally, Oppenheimer decreased their price target on shares of Universal Display from $160.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $130.60.

Universal Display Stock Performance

The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of 18.54 and a beta of 1.54. The company’s 50 day moving average is $91.46 and its 200 day moving average is $103.39.

Universal Display (NASDAQ:OLED) last posted its quarterly 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 return on equity of 12.34% and a net margin of 34.08%.The company had revenue of $142.21 million during the quarter, compared to analyst estimates of $161.23 million. During the same quarter in the prior year, the business earned $1.35 earnings per share. The business’s revenue for the quarter was down 14.5% on a year-over-year basis. On average, equities research analysts anticipate that Universal Display Corporation will post 4.23 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were paid a dividend of $0.50 per share. The ex-dividend date was Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.4%. Universal Display’s payout ratio is currently 44.64%.

Institutional Trading of Universal Display

Institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new position in Universal Display in the fourth quarter worth about $92,756,000. JPMorgan Chase & Co. boosted its holdings in Universal Display by 86.4% during the fourth quarter. JPMorgan Chase & Co. now owns 880,678 shares of the semiconductor company’s stock valued at $102,846,000 after purchasing an additional 408,315 shares in the last quarter. Analog Century Management LP acquired a new stake in Universal Display during the fourth quarter valued at approximately $46,914,000. UBS Group AG grew its stake in shares of Universal Display by 100.8% in the 4th quarter. UBS Group AG now owns 646,787 shares of the semiconductor company’s stock valued at $75,532,000 after purchasing an additional 324,677 shares during the period. Finally, XXEC Inc. grew its stake in shares of Universal Display by 489.3% in the 1st quarter. XXEC Inc. now owns 386,937 shares of the semiconductor company’s stock valued at $35,467,000 after purchasing an additional 321,276 shares during the period. 78.19% of the stock is currently owned by institutional investors and hedge funds.

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.