Universal Display Corporation (OLED) to Issue Quarterly Dividend of $0.50 on June 30th

Universal Display Corporation (NASDAQ:OLED) announced a quarterly dividend on Tuesday, April 28th. Stockholders of record on Tuesday, June 16th will be given a dividend of 0.50 per share by the semiconductor company on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, June 16th.

Universal Display has raised its dividend payment by an average of 0.2%per year over the last three years and has raised its dividend every year for the last 8 years. Universal Display has a dividend payout ratio of 35.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Universal Display to earn $4.98 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 40.2%.

Universal Display Stock Up 1.8%

OLED stock opened at $91.46 on Friday. The firm has a 50 day moving average of $93.14 and a 200 day moving average of $106.16. The stock has a market capitalization of $4.28 billion, a PE ratio of 20.42 and a beta of 1.54. Universal Display has a 52 week low of $83.64 and a 52 week high of $162.36.

Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, April 30th. The semiconductor company reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.37). The company had revenue of $142.21 million during the quarter, compared to analyst estimates of $161.23 million. Universal Display had a return on equity of 12.34% and a net margin of 34.08%.The firm’s revenue for the quarter was down 14.5% on a year-over-year basis. During the same quarter last year, the business earned $1.35 earnings per share. On average, equities research analysts expect that Universal Display will post 4.23 earnings per share for the current year.

Analysts Set New Price Targets

OLED has been the subject of a number of recent analyst reports. The Goldman Sachs Group set a $135.00 target price on shares of Universal Display in a research note on Tuesday, April 21st. Citigroup lowered 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 note on Monday, May 4th. Oppenheimer lowered their target price on shares of Universal Display from $160.00 to $130.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. Zacks Research cut shares of Universal Display from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 21st. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Universal Display in a research note on Monday, March 23rd. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $130.60.

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.