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

Universal Display Co. (NASDAQ:OLED) hit a new 52-week low on Monday . The company traded as low as $144.78 and last traded at $145.07, with a volume of 25556 shares changing hands. The stock had previously closed at $148.07.

Analyst Ratings Changes

A number of equities research analysts have recently commented on OLED shares. TD Cowen cut their target price on Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Oppenheimer reduced their target price on Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, January 2nd. Finally, Needham & Company LLC cut their price target on Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.86.

Universal Display Price Performance

The company’s 50-day simple moving average is $160.63 and its 200 day simple moving average is $188.12. The firm has a market cap of $6.88 billion, a P/E ratio of 29.11, a price-to-earnings-growth ratio of 1.74 and a beta of 1.40.

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

Universal Display Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend was Tuesday, December 17th. Universal Display’s payout ratio is 32.13%.

Insiders Place Their Bets

In related news, Director Lawrence Lacerte purchased 742 shares of the business’s stock in a transaction on Monday, November 4th. The shares were acquired at an average price of $180.89 per share, for a total transaction of $134,220.38. Following the purchase, the director now owns 122,372 shares of the company’s stock, valued at $22,135,871.08. This trade represents a 0.61 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Universal Display

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Glenmede Trust Co. NA lifted its stake in Universal Display by 1.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 6,046 shares of the semiconductor company’s stock valued at $1,269,000 after buying an additional 97 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Universal Display by 8.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 52,713 shares of the semiconductor company’s stock worth $11,064,000 after purchasing an additional 4,269 shares in the last quarter. Montanaro Asset Management Ltd grew its position in shares of Universal Display by 217.4% in the third quarter. Montanaro Asset Management Ltd now owns 63,260 shares of the semiconductor company’s stock valued at $13,278,000 after purchasing an additional 43,330 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of Universal Display by 385.2% in the third quarter. Cerity Partners LLC now owns 8,588 shares of the semiconductor company’s stock valued at $1,803,000 after purchasing an additional 6,818 shares during the last quarter. Finally, ProShare Advisors LLC boosted its stake in Universal Display by 117.2% during the second quarter. ProShare Advisors LLC now owns 18,762 shares of the semiconductor company’s stock worth $3,945,000 after buying an additional 10,122 shares during the last quarter. 78.19% of the stock is owned by institutional investors and hedge funds.

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.