Universal Display (NASDAQ:OLED) Hits New 1-Year Low – What’s Next?

Universal Display Co. (NASDAQ:OLED) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $148.09 and last traded at $149.69, with a volume of 339081 shares changing hands. The stock had previously closed at $155.85.

Wall Street Analysts Forecast Growth

A number of research firms have commented on OLED. Needham & Company LLC decreased their target price on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. TD Cowen dropped their target price on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Finally, Oppenheimer cut their target price on Universal Display from $240.00 to $220.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $210.71.

Universal Display Trading Down 0.7 %

The business has a fifty day moving average price of $176.86 and a 200 day moving average price of $193.47. The firm has a market cap of $7.10 billion, a PE ratio of 30.03, a P/E/G ratio of 1.74 and a beta of 1.39.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.21. Universal Display had a net margin of 36.98% and a return on equity of 15.75%. The company had revenue of $161.63 million for the quarter, compared to analysts’ expectations of $165.28 million. During the same quarter last year, the company earned $1.08 earnings per share. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, research analysts expect that Universal Display Co. will post 4.8 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be given a $0.40 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $1.60 dividend on an annualized basis and a yield of 1.07%. Universal Display’s dividend payout ratio (DPR) is 32.13%.

Insider Transactions at Universal Display

In related news, Director Lawrence Lacerte bought 742 shares of the stock in a transaction on Monday, November 4th. The shares were bought at an average cost of $180.89 per share, for a total transaction of $134,220.38. Following the completion of the transaction, the director now owns 122,372 shares of the company’s stock, valued at $22,135,871.08. This represents a 0.61 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Universal Display

Institutional investors and hedge funds have recently modified their holdings of the company. Primecap Management Co. CA boosted its position in Universal Display by 0.4% during the second quarter. Primecap Management Co. CA now owns 1,895,017 shares of the semiconductor company’s stock worth $398,427,000 after purchasing an additional 7,435 shares in the last quarter. Geode Capital Management LLC grew its stake in Universal Display by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 799,352 shares of the semiconductor company’s stock valued at $167,825,000 after acquiring an additional 15,015 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Universal Display in the 2nd quarter valued at about $127,668,000. Van ECK Associates Corp increased its holdings in Universal Display by 27.2% during the 3rd quarter. Van ECK Associates Corp now owns 507,440 shares of the semiconductor company’s stock valued at $101,914,000 after acquiring an additional 108,394 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Universal Display by 27.3% in the second quarter. Dimensional Fund Advisors LP now owns 469,570 shares of the semiconductor company’s stock valued at $98,725,000 after purchasing an additional 100,809 shares during the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

About Universal Display

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.