Universal Display (NASDAQ:OLED) Hits New 12-Month Low – Here’s What Happened

Universal Display Co. (NASDAQ:OLED)’s stock price hit a new 52-week low on Monday . The company traded as low as $137.77 and last traded at $140.94, with a volume of 36453 shares traded. The stock had previously closed at $145.17.

Analyst Upgrades and Downgrades

OLED has been the subject of several recent analyst reports. The Goldman Sachs Group decreased their price objective on shares of Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Needham & Company LLC decreased their price target on Universal Display from $215.00 to $170.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Susquehanna dropped their price objective on Universal Display from $165.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Citigroup decreased their target price on Universal Display from $200.00 to $162.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. Finally, Oppenheimer dropped their price target on shares of Universal Display from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, January 2nd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Universal Display presently has a consensus rating of “Moderate Buy” and an average target price of $190.43.

Universal Display Stock Down 4.8 %

The company has a market capitalization of $6.56 billion, a price-to-earnings ratio of 29.73, a price-to-earnings-growth ratio of 1.61 and a beta of 1.40. The business has a 50-day moving average price of $149.47 and a 200-day moving average price of $167.82.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.14. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. The firm had revenue of $162.29 million for the quarter, compared to the consensus estimate of $152.75 million. As a group, sell-side analysts predict that Universal Display Co. will post 4.71 EPS for the current year.

Universal Display Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Monday, March 17th. This is an increase from Universal Display’s previous quarterly dividend of $0.40. Universal Display’s dividend payout ratio is 38.71%.

Institutional Trading of Universal Display

Several large investors have recently added to or reduced their stakes in OLED. Wealth Enhancement Advisory Services LLC boosted its position in shares of Universal Display by 36.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 133,042 shares of the semiconductor company’s stock worth $19,451,000 after buying an additional 35,849 shares during the period. Azzad Asset Management Inc. ADV boosted its position in Universal Display by 2.1% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 13,559 shares of the semiconductor company’s stock worth $1,982,000 after acquiring an additional 281 shares during the period. Jefferies Financial Group Inc. grew its stake in Universal Display by 171.2% during the 4th quarter. Jefferies Financial Group Inc. now owns 3,206 shares of the semiconductor company’s stock valued at $469,000 after acquiring an additional 2,024 shares in the last quarter. Polar Asset Management Partners Inc. increased its holdings in shares of Universal Display by 90.2% in the 4th quarter. Polar Asset Management Partners Inc. now owns 120,000 shares of the semiconductor company’s stock valued at $17,544,000 after purchasing an additional 56,900 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Universal Display by 2.8% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,536,513 shares of the semiconductor company’s stock worth $370,838,000 after purchasing an additional 69,043 shares in the last quarter. 78.19% of the stock is owned by institutional investors and hedge funds.

Universal Display Company Profile

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 in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.