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

Key Points

• Analysts maintain a consensus “Hold” rating on Universal Display, with two sell, three hold and three buy recommendations. The average 12-month price target is $116.33, though several firms recently lowered targets or downgraded the stock.
• Universal Display reported quarterly EPS of $1.06, exceeding estimates of $1.03, but revenue of $152.16 million fell short of expectations and declined 11.4% year over year.
• The company declared a quarterly dividend of $0.50 per share, equivalent to a $2.00 annualized payout and a 2.2% yield; institutional investors own 78.19% of the stock.

Shares of Universal Display Corporation (NASDAQ:OLED - Get Free Report) have been given a consensus recommendation of "Hold" by the eight ratings firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $116.3333.

OLED has been the topic of several recent research reports. Needham & Company LLC dropped their target price on Universal Display from $120.00 to $100.00 and set a "buy" rating on the stock in a research report on Friday, July 31st. The Goldman Sachs Group set a $135.00 price target on Universal Display in a report on Tuesday, April 21st. BTIG Research cut Universal Display to a "neutral" rating in a research report on Friday, July 31st. Zacks Research lowered Universal Display from a "hold" rating to a "strong sell" rating in a research note on Tuesday, April 21st. Finally, Susquehanna dropped their price objective on Universal Display from $110.00 to $90.00 and set a "neutral" rating on the stock in a report on Friday, July 31st.

Universal Display Stock Down 0.7%

OLED opened at $90.54 on Tuesday. The firm has a 50-day moving average price of $84.64 and a 200-day moving average price of $95.59. Universal Display has a twelve month low of $76.42 and a twelve month high of $153.38. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of 21.92 and a beta of 1.54.

Universal Display (NASDAQ:OLED - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $1.03 by $0.03. The company had revenue of $152.16 million for the quarter, compared to analysts' expectations of $157.54 million. Universal Display had a net margin of 32.24% and a return on equity of 11.35%. Universal Display's revenue was down 11.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.41 EPS. On average, sell-side analysts expect that Universal Display will post 4.18 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 2.2%. Universal Display's dividend payout ratio is currently 48.43%.

Hedge Funds Weigh In On Universal Display

A number of large investors have recently modified their holdings of the company. Lido Advisors LLC raised its position in Universal Display by 1.7% in the 3rd quarter. Lido Advisors LLC now owns 5,783 shares of the semiconductor company's stock worth $831,000 after purchasing an additional 95 shares during the period. Sigma Planning Corp boosted its position in Universal Display by 1.0% during the fourth quarter. Sigma Planning Corp now owns 10,390 shares of the semiconductor company's stock valued at $1,210,000 after buying an additional 103 shares during the period. Certuity LLC grew its stake in shares of Universal Display by 4.3% during the third quarter. Certuity LLC now owns 2,556 shares of the semiconductor company's stock valued at $367,000 after buying an additional 105 shares during the last quarter. U.S. Capital Wealth Advisors LLC grew its position in Universal Display by 2.8% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 3,869 shares of the semiconductor company's stock worth $452,000 after acquiring an additional 107 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Universal Display by 5.7% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,999 shares of the semiconductor company's stock worth $287,000 after purchasing an additional 108 shares during the last quarter. 78.19% of the stock is currently owned by institutional investors.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source