Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications. It owns, exclusively licenses, or has sole rights to sublicense approximately 5,500 issued and pending patents worldwide. The company supplies its proprietary UniversalPHOLED materials to display and lighting manufacturers, and others. It is also involved in the research, development, and commercialization of other OLED device and manufacturing technologies, including FOLED that are flexible OLEDs for the fabrication of OLEDs on flexible substrates; OVJP, an organic vapor jet printing technology; thin-film encapsulation technology for the packaging of flexible OLEDs and other thin-film devices, as well as for use as a barrier film for plastic substrates; and UniversalP2OLED, which are printable phosphorescent OLEDs. In addition, the company provides technology development and support services, including third-party collaboration and support to third parties for the commercialization of their OLED products. Further, it provides contract research services in the areas of chemical materials synthesis research, development, and commercialization for non-OLED applications. Universal Display Corporation was founded in 1985 and is headquartered in Ewing, New Jersey.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on OLED. Cowen decreased their price target on shares of Universal Display from $175.00 to $145.00 in a report on Friday. Bank of America lowered shares of Universal Display from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $190.00 to $135.00 in a report on Wednesday, June 29th. Needham & Company LLC decreased their price target on shares of Universal Display from $165.00 to $140.00 and set a "buy" rating on the stock in a report on Tuesday, July 26th. The Goldman Sachs Group decreased their price target on shares of Universal Display from $225.00 to $192.00 and set a "buy" rating on the stock in a report on Thursday, July 28th. Finally, Cowen reduced their target price on shares of Universal Display from $175.00 to $145.00 in a report on Friday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $168.30.
Universal Display Price Performance
OLED traded down $3.93 during trading on Tuesday, hitting $116.75. 709,315 shares of the stock traded hands, compared to its average volume of 438,807. The firm has a market capitalization of $5.51 billion, a P/E ratio of 30.48, a price-to-earnings-growth ratio of 1.41 and a beta of 1.47. The firm has a 50-day moving average of $113.30 and a 200 day moving average of $134.29. Universal Display has a 12-month low of $98.71 and a 12-month high of $211.99.
Universal Display (NASDAQ:OLED - Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The semiconductor company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.13). The firm had revenue of $136.60 million for the quarter, compared to analysts' expectations of $151.21 million. Universal Display had a net margin of 31.80% and a return on equity of 16.55%. The company's quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.85 EPS. As a group, equities analysts predict that Universal Display will post 4.22 EPS for the current fiscal year.
Universal Display Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be given a $0.30 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $1.20 annualized dividend and a dividend yield of 1.03%. Universal Display's dividend payout ratio is 31.17%.