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

Shares of Universal Display Corporation (NASDAQ:OLED) have received a consensus rating of “Hold” from the five ratings firms that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $151.6667.

OLED has been the topic of several research analyst reports. Roth Mkm reissued a “buy” rating and issued a $180.00 target price on shares of Universal Display in a research report on Friday. Wall Street Zen upgraded shares of Universal Display from a “sell” rating to a “hold” rating in a report on Sunday. Needham & Company LLC dropped their price objective on Universal Display from $150.00 to $145.00 and set a “buy” rating for the company in a report on Friday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Universal Display in a research report on Wednesday, December 24th. Finally, Citigroup lowered their price target on Universal Display from $150.00 to $130.00 and set a “neutral” rating for the company in a research report on Tuesday, January 27th.

Universal Display Trading Down 1.9%

Universal Display stock opened at $102.09 on Tuesday. The stock has a market cap of $4.85 billion, a PE ratio of 20.14, a P/E/G ratio of 2.96 and a beta of 1.63. Universal Display has a 52 week low of $99.65 and a 52 week high of $164.29. The stock has a 50-day moving average price of $119.44 and a 200 day moving average price of $130.05.

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 analysts’ consensus estimates of $1.28 by $0.11. The firm had revenue of $172.93 million for 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%. Universal Display’s revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.22 earnings per share. On average, equities analysts predict that Universal Display will post 4.71 EPS for the current year.

Universal Display Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Tuesday, March 17th. This is an increase from Universal Display’s previous quarterly dividend of $0.45. Universal Display’s dividend payout ratio (DPR) is presently 35.50%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Peregrine Investment Management Inc. increased its holdings in Universal Display by 24.7% in the 3rd quarter. Peregrine Investment Management Inc. now owns 50,560 shares of the semiconductor company’s stock valued at $7,262,000 after buying an additional 10,000 shares during the period. Truist Financial Corp boosted its position in shares of Universal Display by 54.7% during the 3rd quarter. Truist Financial Corp now owns 63,262 shares of the semiconductor company’s stock valued at $9,086,000 after acquiring an additional 22,380 shares in the last quarter. Baker Avenue Asset Management LP bought a new stake in Universal Display in the second quarter valued at about $1,398,000. Creative Planning raised its position in Universal Display by 12.7% in the second quarter. Creative Planning now owns 19,847 shares of the semiconductor company’s stock worth $3,066,000 after purchasing an additional 2,239 shares in the last quarter. Finally, Avenir Corp raised its position in Universal Display by 14.5% in the second quarter. Avenir Corp now owns 223,150 shares of the semiconductor company’s stock worth $34,468,000 after purchasing an additional 28,277 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.