Universal Display Corporation (NASDAQ:OLED) Stock Rated “Hold” by Sell-Side Brokerages

Shares of Universal Display Corporation (NASDAQ:OLED) have been given an average recommendation of “Hold” by the eight research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $116.33.

A number of research firms recently weighed in on OLED. Needham & Company LLC lowered their price objective on shares of Universal Display from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Weiss Ratings downgraded shares of Universal Display from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Susquehanna reduced their price target on shares of Universal Display from $110.00 to $90.00 and set a “neutral” rating for the company in a report on Friday, July 31st. Zacks Research raised shares of Universal Display from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 13th. Finally, BTIG Research downgraded shares of Universal Display to a “neutral” rating in a research note on Friday, July 31st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Byrne Asset Management LLC raised its position in shares of Universal Display by 88.1% in the 3rd quarter. Byrne Asset Management LLC now owns 7,141 shares of the semiconductor company’s stock worth $553,000 after acquiring an additional 3,345 shares in the last quarter. Versant Capital Management Inc grew its stake in Universal Display by 347.8% in the third quarter. Versant Capital Management Inc now owns 703 shares of the semiconductor company’s stock valued at $54,000 after purchasing an additional 546 shares during the last quarter. Tidal Investments LLC grew its stake in Universal Display by 84.0% in the second quarter. Tidal Investments LLC now owns 25,257 shares of the semiconductor company’s stock valued at $2,187,000 after purchasing an additional 11,529 shares during the last quarter. WINTON GROUP Ltd raised its holdings in Universal Display by 381.2% in the second quarter. WINTON GROUP Ltd now owns 62,919 shares of the semiconductor company’s stock worth $5,448,000 after purchasing an additional 49,844 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in Universal Display in the second quarter worth about $195,000. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

Universal Display Stock Down 0.2%

OLED opened at $79.66 on Wednesday. The stock’s fifty day moving average is $82.51 and its two-hundred day moving average is $87.17. The company has a market capitalization of $3.66 billion, a P/E ratio of 19.29 and a beta of 1.53. Universal Display has a 52 week low of $73.23 and a 52 week high of $153.38.

Universal Display (NASDAQ:OLED) last issued its earnings results on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.03. Universal Display had a return on equity of 11.35% and a net margin of 32.24%.The business had revenue of $152.16 million during the quarter, compared to analysts’ expectations of $157.54 million. During the same period in the prior year, the business earned $1.41 EPS. The business’s revenue for the quarter was down 11.4% compared to the same quarter last year. Equities analysts anticipate that Universal Display will post 4.17 earnings per share for the current year.

Universal Display Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.5%. Universal Display’s dividend payout ratio is currently 48.43%.

Universal Display Company Profile

Universal Display Corporation develops and commercializes technologies and materials used in organic light-emitting diode (OLED) displays and lighting. The company’s portfolio includes phosphorescent OLED (PHOLED) technologies, which are designed to improve display efficiency, as well as OLED material systems and related technologies.

Universal Display generates revenue primarily through licensing its OLED intellectual property and selling OLED materials, including phosphorescent emitter materials and related products.