Universal Display Corporation (NASDAQ:OLED) Stock Now Rated "Hold" by Wall Street Analysts

Key Points

• Analysts have a consensus “Hold” rating on Universal Display, with four holds, three buys, and one sell among eight firms. The average 12-month price target is $116.33, though several analysts recently lowered ratings or targets.
• Universal Display reported quarterly EPS of $1.06, exceeding estimates of $1.03, but revenue fell 11.4% year over year to $152.16 million and missed expectations.
• The company announced a quarterly dividend of $0.50 per share, equivalent to $2.00 annually and a 2.6% yield. Institutional investors own approximately 78.19% of the stock.

Shares of Universal Display Corporation (NASDAQ:OLED - Get Free Report) have been given an average rating of "Hold" by the eight research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $116.33.

A number of brokerages recently commented on OLED. Zacks Research upgraded shares of Universal Display from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 13th. BTIG Research cut Universal Display to a "neutral" rating in a research report on Friday, July 31st. Weiss Ratings downgraded Universal Display from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, July 28th. Oppenheimer reissued an "outperform" rating and issued a $120.00 price target (down from $130.00) on shares of Universal Display in a report on Friday, July 31st. Finally, Susquehanna decreased their price target on Universal Display from $110.00 to $90.00 and set a "neutral" rating on the stock in a research note on Friday, July 31st.

Universal Display Stock Performance

Shares of Universal Display stock opened at $76.16 on Wednesday. Universal Display has a one year low of $73.23 and a one year high of $153.38. The company has a market cap of $3.50 billion, a P/E ratio of 18.44 and a beta of 1.56. The firm has a fifty day moving average of $82.71 and a two-hundred day moving average of $87.73.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its earnings results on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.03. Universal Display had a net margin of 32.24% and a return on equity of 11.35%. The business had revenue of $152.16 million for the quarter, compared to the consensus estimate of $157.54 million. During the same quarter in the previous year, the firm earned $1.41 earnings per share. The business's quarterly revenue was down 11.4% compared to the same quarter last year. As a group, equities analysts predict that Universal Display will post 4.17 earnings per share for the current year.

Universal Display Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. Universal Display's dividend payout ratio (DPR) is 48.43%.

Institutional Investors Weigh In On Universal Display

Institutional investors have recently made changes to their positions in the stock. State of Michigan Retirement System increased its position in Universal Display by 1.9% during the first quarter. State of Michigan Retirement System now owns 10,605 shares of the semiconductor company's stock worth $972,000 after purchasing an additional 200 shares during the last quarter. Lido Advisors LLC raised its stake in Universal Display by 5.1% during the first quarter. Lido Advisors LLC now owns 6,081 shares of the semiconductor company's stock worth $557,000 after purchasing an additional 296 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in shares of Universal Display by 3.4% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 9,083 shares of the semiconductor company's stock valued at $833,000 after purchasing an additional 300 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Universal Display by 0.3% in the 1st quarter. Swiss National Bank now owns 89,400 shares of the semiconductor company's stock valued at $8,194,000 after purchasing an additional 300 shares during the last quarter. Finally, Money Concepts Capital Corp grew its stake in shares of Universal Display by 2.1% during the 1st quarter. Money Concepts Capital Corp now owns 14,902 shares of the semiconductor company's stock valued at $1,366,000 after buying an additional 303 shares during the period. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

About Universal Display

Universal Display Corporation NASDAQ: OLED develops and commercializes organic light-emitting diode (OLED) technologies and materials. The company's business is centered on high-efficiency phosphorescent OLED (PHOLED) technology, which is designed to improve the performance and energy efficiency of OLED displays and lighting products.

Universal Display supplies OLED emitter materials and other related products to manufacturers and provides technology licenses, technical assistance and support under agreements covering its intellectual property.

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