Universal Display Corporation (NASDAQ:OLED) Given Consensus Recommendation of “Hold” by Brokerages

Universal Display Corporation (NASDAQ:OLED) has been given a consensus recommendation of “Hold” by the six ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $130.60.

A number of research analysts recently commented on OLED shares. Weiss Ratings restated a “hold (c-)” rating on shares of Universal Display in a research report on Thursday, June 18th. Needham & Company LLC cut their price objective on shares of Universal Display from $145.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Citigroup reduced their price objective on shares of Universal Display from $105.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, May 4th. Zacks Research cut shares of Universal Display from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 21st. Finally, The Goldman Sachs Group set a $135.00 price target on shares of Universal Display in a report on Tuesday, April 21st.

Hedge Funds Weigh In On Universal Display

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

Universal Display Trading Down 0.4%

Shares of OLED stock opened at $87.16 on Monday. The stock has a market cap of $4.07 billion, a P/E ratio of 19.46 and a beta of 1.54. Universal Display has a 1 year low of $83.64 and a 1 year high of $162.36. The stock has a 50 day simple moving average of $91.98 and a 200 day simple moving average of $104.01.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $161.23 million. Universal Display had a return on equity of 12.34% and a net margin of 34.08%.Universal Display’s revenue was down 14.5% on a year-over-year basis. During the same quarter last year, the business earned $1.35 EPS. Analysts forecast that Universal Display will post 4.23 EPS for the current year.

Universal Display Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 2.3%. Universal Display’s dividend payout ratio is presently 44.64%.

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.