Universal Display Corporation (NASDAQ:OLED) Receives Average Rating of "Hold" from Brokerages

Key Points

• Universal Display Corporation has an average analyst rating of "Hold" from six brokerages, with a mix of sell, hold, and buy opinions; the average 1-year price target is $130.60.
• The company reported weaker-than-expected Q1 earnings, posting $0.76 EPS versus the $1.13 consensus and revenue of $142.21 million versus estimates of $161.23 million, with revenue down 14.5% year over year.
• Universal Display also declared a quarterly dividend of $0.50, equal to $2.00 annually and a 2.5% yield, while institutional investors continue to hold a large majority of the shares.

Universal Display Corporation (NASDAQ:OLED - Get Free Report) has been assigned an average recommendation of "Hold" from the six brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $130.60.

A number of research analysts have recently commented on the company. Citigroup lowered their price objective on Universal Display from $105.00 to $100.00 and set a "neutral" rating on the stock in a report on Monday, May 4th. Needham & Company LLC reduced their target price on Universal Display from $145.00 to $120.00 and set a "buy" rating for the company in a report on Friday, May 1st. The Goldman Sachs Group set a $135.00 target price on Universal Display in a research report on Tuesday, April 21st. Weiss Ratings reiterated a "hold (c-)" rating on shares of Universal Display in a report on Thursday, June 18th. Finally, Oppenheimer dropped their price target on shares of Universal Display from $160.00 to $130.00 and set an "outperform" rating on the stock in a research report on Friday, May 1st.

Universal Display Trading Up 0.1%

OLED stock opened at $79.69 on Friday. The firm has a market cap of $3.73 billion, a PE ratio of 17.79 and a beta of 1.54. Universal Display has a 1 year low of $77.15 and a 1 year high of $154.07. The company has a fifty day simple moving average of $87.75 and a 200 day simple moving average of $100.14.

Universal Display (NASDAQ:OLED - Get Free Report) last posted its earnings results on Thursday, April 30th. The semiconductor company reported $0.76 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.37). Universal Display had a return on equity of 12.34% and a net margin of 34.08%.The business had revenue of $142.21 million for the quarter, compared to analyst estimates of $161.23 million. During the same period in the previous year, the company earned $1.35 earnings per share. The company's quarterly revenue was down 14.5% compared to the same quarter last year. As a group, analysts forecast that Universal Display will post 4.23 EPS for the current fiscal year.

Universal Display Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were paid a $0.50 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.5%. Universal Display's dividend payout ratio (DPR) is presently 44.64%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of OLED. State Street Corp grew its position in shares of Universal Display by 4.3% in the fourth quarter. State Street Corp now owns 1,694,779 shares of the semiconductor company's stock valued at $197,916,000 after purchasing an additional 69,163 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Universal Display by 25.0% during the 4th quarter. Geode Capital Management LLC now owns 1,109,077 shares of the semiconductor company's stock worth $129,537,000 after purchasing an additional 222,108 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Universal Display by 21.1% during the 1st quarter. First Trust Advisors LP now owns 976,423 shares of the semiconductor company's stock worth $89,499,000 after purchasing an additional 169,969 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Universal Display by 86.4% during the 4th quarter. JPMorgan Chase & Co. now owns 880,678 shares of the semiconductor company's stock valued at $102,846,000 after purchasing an additional 408,315 shares during the period. Finally, Norges Bank acquired a new stake in Universal Display in the 4th quarter valued at approximately $92,756,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.