Universal Display Co. (NASDAQ:OLED) Plans $0.40 Quarterly Dividend

Universal Display Co. (NASDAQ:OLED) announced a quarterly dividend on Wednesday, October 30th, Zacks reports. Stockholders of record on Tuesday, December 17th will be given a dividend of 0.40 per share by the semiconductor company on Tuesday, December 31st. This represents a $1.60 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Tuesday, December 17th.

Universal Display has increased its dividend payment by an average of 32.6% annually over the last three years. Universal Display has a dividend payout ratio of 28.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Universal Display to earn $5.34 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 30.0%.

Universal Display Stock Down 11.2 %

OLED opened at $180.32 on Friday. The business’s fifty day simple moving average is $201.79 and its 200 day simple moving average is $193.89. Universal Display has a 52 week low of $133.67 and a 52 week high of $237.00. The stock has a market cap of $8.56 billion, a PE ratio of 36.21, a P/E/G ratio of 2.17 and a beta of 1.42.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.20 by $0.20. The firm had revenue of $161.63 million for the quarter, compared to analyst estimates of $165.28 million. Universal Display had a return on equity of 16.01% and a net margin of 36.98%. The company’s revenue was up 14.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.08 EPS. As a group, equities analysts anticipate that Universal Display will post 4.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

OLED has been the subject of a number of recent research reports. Needham & Company LLC lowered their price objective on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a report on Thursday. The Goldman Sachs Group boosted their price target on shares of Universal Display from $208.00 to $243.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. TD Cowen reduced their price objective on Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday. Roth Mkm boosted their target price on Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Oppenheimer reduced their price target on Universal Display from $240.00 to $220.00 and set an “outperform” rating on the stock in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Universal Display presently has an average rating of “Moderate Buy” and a consensus price target of $215.63.

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.