Universal Display (NASDAQ:OLED) Downgraded by Zacks Research to Hold

Zacks Research cut shares of Universal Display (NASDAQ:OLED) from a strong-buy rating to a hold rating in a research note published on Tuesday,Zacks.com reports.

Other research analysts also recently issued reports about the company. Wall Street Zen raised Universal Display from a “sell” rating to a “hold” rating in a report on Friday, May 2nd. Needham & Company LLC restated a “buy” rating and set a $170.00 price objective on shares of Universal Display in a research report on Friday, May 2nd. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $190.43.

Universal Display Price Performance

OLED opened at $140.29 on Tuesday. Universal Display has a fifty-two week low of $103.70 and a fifty-two week high of $215.90. The company’s 50 day moving average price is $150.09 and its two-hundred day moving average price is $144.42. The firm has a market capitalization of $6.67 billion, a price-to-earnings ratio of 27.40, a PEG ratio of 1.50 and a beta of 1.47.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings results on Thursday, July 31st. The semiconductor company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.23. Universal Display had a net margin of 36.95% and a return on equity of 15.82%. The company had revenue of $171.79 million for the quarter, compared to analyst estimates of $161.58 million. During the same quarter in the previous year, the business earned $1.10 earnings per share. Universal Display’s revenue was up 8.4% compared to the same quarter last year. Universal Display has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Universal Display will post 4.71 EPS for the current year.

Universal Display Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a yield of 1.3%. Universal Display’s dividend payout ratio is 35.16%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC grew its stake in Universal Display by 73.8% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,407,846 shares of the semiconductor company’s stock worth $614,806,000 after purchasing an additional 1,871,333 shares during the period. Primecap Management Co. CA boosted its holdings in shares of Universal Display by 20.7% during the 2nd quarter. Primecap Management Co. CA now owns 2,215,308 shares of the semiconductor company’s stock worth $342,176,000 after buying an additional 379,586 shares in the last quarter. Norges Bank bought a new position in shares of Universal Display during the 2nd quarter worth approximately $124,480,000. First Trust Advisors LP grew its position in shares of Universal Display by 14.9% during the 2nd quarter. First Trust Advisors LP now owns 699,412 shares of the semiconductor company’s stock worth $108,031,000 after buying an additional 90,766 shares during the period. Finally, Greenhouse Funds LLLP lifted its position in shares of Universal Display by 14.4% during the 2nd quarter. Greenhouse Funds LLLP now owns 644,146 shares of the semiconductor company’s stock valued at $99,495,000 after acquiring an additional 81,025 shares during the period. 78.19% of the stock is owned by institutional investors and hedge funds.

Universal Display Company Profile

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.