Universal Display Corporation Announces Quarterly Dividend of $0.50 (NASDAQ:OLED)

Key Points

• $0.50 per share quarterly dividend announced, payable June 30 to shareholders of record June 16, equal to a $2.00 annualized payout and ~2.1% yield.
• The company reported Q results with EPS $0.76 and revenue $142.21M, missing analysts' estimates ($1.13 EPS, $161.23M) and showing revenue down 14.5% year-over-year.
• Shares traded up to $93.90 on heavy volume; Universal Display has a $4.39B market cap, a P/E around 18.5, and ~78% institutional ownership with recent large buys by Norges Bank, Vanguard and JPMorgan.

Universal Display Corporation (NASDAQ:OLED - Get Free Report) announced a quarterly dividend on Thursday, April 30th. Shareholders 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) annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, June 16th.

Universal Display has increased its dividend 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% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Universal Display to earn $5.40 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 37.0%.

Universal Display Stock Performance

NASDAQ OLED traded up $6.81 on Friday, hitting $93.90. The stock had a trading volume of 1,647,644 shares, compared to its average volume of 783,737. Universal Display has a 52-week low of $83.64 and a 52-week high of $163.21. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of 18.52, a price-to-earnings-growth ratio of 7.27 and a beta of 1.65. The firm has a 50-day moving average of $96.82 and a 200-day moving average of $115.15.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its quarterly 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 the consensus estimate of $161.23 million. Universal Display had a return on equity of 14.07% and a net margin of 37.21%.Universal Display's quarterly revenue was down 14.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.35 EPS. As a group, research analysts anticipate that Universal Display will post 4.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Universal Display

Several institutional investors and hedge funds have recently made changes to their positions in OLED. Norges Bank bought a new position in shares of Universal Display during the 4th quarter valued at $92,756,000. Vanguard Group Inc. grew its holdings in shares of Universal Display by 10.0% during the 3rd quarter. Vanguard Group Inc. now owns 5,069,107 shares of the semiconductor company's stock valued at $728,076,000 after purchasing an additional 460,792 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Universal Display by 86.4% in the 4th quarter. JPMorgan Chase & Co. now owns 880,678 shares of the semiconductor company's stock worth $102,846,000 after acquiring an additional 408,315 shares during the last quarter. Analog Century Management LP bought a new stake in Universal Display in the 4th quarter worth $46,914,000. Finally, UBS Group AG grew its holdings in Universal Display by 100.8% in the 4th quarter. UBS Group AG now owns 646,787 shares of the semiconductor company's stock worth $75,532,000 after acquiring an additional 324,677 shares during the last quarter. 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.

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