Universal Display (NASDAQ:OLED) Trading Down 12.9% – Should You Sell?

Universal Display Co. (NASDAQ:OLED)’s share price dropped 12.9% during trading on Thursday . The stock traded as low as $109.97 and last traded at $109.06. Approximately 242,450 shares traded hands during trading, a decline of 55% from the average daily volume of 538,572 shares. The stock had previously closed at $125.17.

Analyst Upgrades and Downgrades

Several analysts have commented on OLED shares. Oppenheimer dropped their target price on shares of Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, January 2nd. StockNews.com upgraded Universal Display from a “sell” rating to a “hold” rating in a report on Friday, March 21st. Susquehanna cut their target price on shares of Universal Display from $165.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Citigroup reduced their target price on Universal Display from $200.00 to $162.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. Finally, The Goldman Sachs Group lowered their price target on Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Universal Display currently has an average rating of “Moderate Buy” and an average target price of $190.43.

Universal Display Stock Performance

The stock has a fifty day simple moving average of $144.19 and a 200-day simple moving average of $162.47. The stock has a market cap of $5.13 billion, a P/E ratio of 23.25, a PEG ratio of 1.61 and a beta of 1.42.

Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.14. Universal Display had a net margin of 34.29% and a return on equity of 15.51%. The business had revenue of $162.29 million during the quarter, compared to the consensus estimate of $152.75 million. On average, research analysts anticipate that Universal Display Co. will post 4.71 earnings per share for the current year.

Universal Display Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a dividend of $0.45 per share. The ex-dividend date was Monday, March 17th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.66%. This is a boost from Universal Display’s previous quarterly dividend of $0.40. Universal Display’s dividend payout ratio is currently 38.71%.

Hedge Funds Weigh In On Universal Display

Several hedge funds and other institutional investors have recently made changes to their positions in OLED. CIBC Asset Management Inc raised its position in Universal Display by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 1,473 shares of the semiconductor company’s stock worth $215,000 after acquiring an additional 73 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of Universal Display by 5.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,615 shares of the semiconductor company’s stock valued at $245,000 after purchasing an additional 85 shares during the period. Arizona State Retirement System grew its holdings in Universal Display by 0.7% during the fourth quarter. Arizona State Retirement System now owns 13,065 shares of the semiconductor company’s stock worth $1,910,000 after purchasing an additional 88 shares during the period. Commonwealth Equity Services LLC increased its position in Universal Display by 0.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 10,091 shares of the semiconductor company’s stock worth $1,475,000 after buying an additional 90 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its position in Universal Display by 0.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 12,300 shares of the semiconductor company’s stock worth $1,798,000 after buying an additional 100 shares during the last quarter. 78.19% of the stock is owned by institutional investors.

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.