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

Universal Display Co. (NASDAQ:OLED)’s stock price reached a new 52-week low during trading on Friday . The company traded as low as $147.87 and last traded at $147.87, with a volume of 99520 shares traded. The stock had previously closed at $150.84.

Wall Street Analysts Forecast Growth

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

Universal Display Stock Down 0.8 %

The company has a fifty day simple moving average of $170.51 and a 200-day simple moving average of $192.21. The firm has a market cap of $7.10 billion, a P/E ratio of 30.06, a price-to-earnings-growth ratio of 1.74 and a beta of 1.39.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share (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 company had revenue of $161.63 million during the quarter, compared to the consensus estimate of $165.28 million. During the same period in the previous year, the company posted $1.08 EPS. The firm’s revenue was up 14.6% on a year-over-year basis. As a group, research analysts forecast that Universal Display Co. will post 4.8 EPS for the current year.

Universal Display Dividend Announcement

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

Insider Activity at Universal Display

In other Universal Display news, Director Lawrence Lacerte bought 742 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were bought at an average price of $180.89 per share, with a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Universal Display

Institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Universal Display by 3.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,511 shares of the semiconductor company’s stock valued at $2,000,000 after acquiring an additional 319 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Universal Display by 3.2% in the second quarter. Principal Financial Group Inc. now owns 169,969 shares of the semiconductor company’s stock worth $35,736,000 after purchasing an additional 5,284 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Universal Display by 17.3% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,000 shares of the semiconductor company’s stock worth $421,000 after buying an additional 295 shares in the last quarter. Rothschild Investment LLC bought a new position in Universal Display during the second quarter valued at approximately $887,000. Finally, Van ECK Associates Corp grew its holdings in Universal Display by 10.6% during the 2nd quarter. Van ECK Associates Corp now owns 399,046 shares of the semiconductor company’s stock valued at $83,900,000 after buying an additional 38,332 shares in the last quarter. 78.19% of the stock is owned by hedge funds and other institutional investors.

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.