Universal Display Corporation (NASDAQ:OLED) Given Average Rating of "Hold" by Brokerages

Key Points

• Universal Display has an average “Hold” rating from eight brokerages, with one sell, four hold, and three buy recommendations. The average 12-month price target is $116.33, though several firms recently lowered their targets.
• The company reported quarterly EPS of $1.06, ahead of the $1.03 consensus estimate, but revenue of $152.16 million declined 11.4% year over year and missed expectations.
• Shares opened at $82.33, near the lower end of their 52-week range, while institutional investors own 78.19% of the stock. Universal Display also declared a quarterly dividend of $0.50, equivalent to a 2.4% annual yield.

Shares of Universal Display Corporation (NASDAQ:OLED - Get Free Report) have been given an average rating of "Hold" by the eight ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $116.3333.

OLED has been the subject of a number of recent research reports. Needham & Company LLC cut their price objective on shares of Universal Display from $120.00 to $100.00 and set a "buy" rating for the company in a report on Friday, July 31st. Susquehanna dropped their price target on shares of Universal Display from $110.00 to $90.00 and set a "neutral" rating for the company in a research report on Friday, July 31st. Zacks Research upgraded Universal Display from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 13th. Citigroup reduced their price target on Universal Display from $100.00 to $85.00 and set a "neutral" rating on the stock in a research report on Monday, August 3rd. Finally, BTIG Research lowered Universal Display to a "neutral" rating in a research note on Friday, July 31st.

Institutional Investors Weigh In On Universal Display

Several institutional investors and hedge funds have recently bought and sold shares of the company. NewEdge Wealth LLC bought a new stake in shares of Universal Display during the 2nd quarter worth approximately $2,032,000. Quantinno Capital Management LP increased its stake in Universal Display by 776.6% in the first quarter. Quantinno Capital Management LP now owns 251,218 shares of the semiconductor company's stock valued at $23,027,000 after acquiring an additional 222,561 shares during the last quarter. Caxton Associates LLP raised its position in Universal Display by 132.6% during the first quarter. Caxton Associates LLP now owns 43,818 shares of the semiconductor company's stock valued at $4,016,000 after purchasing an additional 24,977 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Universal Display during the second quarter valued at approximately $2,025,000. Finally, Systematic Financial Management LP lifted its stake in Universal Display by 40.2% during the fourth quarter. Systematic Financial Management LP now owns 196,515 shares of the semiconductor company's stock worth $22,949,000 after purchasing an additional 56,320 shares during the last quarter. Institutional investors own 78.19% of the company's stock.

Universal Display Price Performance

Shares of NASDAQ OLED opened at $82.33 on Friday. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 19.93 and a beta of 1.56. The stock's fifty day moving average price is $83.57 and its two-hundred day moving average price is $91.21. Universal Display has a one year low of $76.42 and a one year high of $153.38.

Universal Display (NASDAQ:OLED - Get Free Report) last announced its earnings results on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.03 by $0.03. Universal Display had a net margin of 32.24% and a return on equity of 11.35%. The company had revenue of $152.16 million during the quarter, compared to analysts' expectations of $157.54 million. During the same quarter in the previous year, the business posted $1.41 earnings per share. Universal Display's quarterly revenue was down 11.4% on a year-over-year basis. On average, equities analysts anticipate that Universal Display will post 4.17 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be given a $0.50 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. Universal Display's dividend payout ratio (DPR) is presently 48.43%.

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.

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