Universal Display (NASDAQ:OLED) Trading Down 5.3% on Analyst Downgrade

Universal Display Corporation (NASDAQ:OLED)’s stock price was down 5.3% during trading on Monday after Needham & Company LLC lowered their price target on the stock from $170.00 to $150.00. Needham & Company LLC currently has a buy rating on the stock. Universal Display traded as low as $118.84 and last traded at $118.30. Approximately 217,494 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 651,229 shares. The stock had previously closed at $124.93.

Several other equities research analysts have also issued reports on OLED. Zacks Research raised shares of Universal Display from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Universal Display in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $181.33.

Institutional Investors Weigh In On Universal Display

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rise Advisors LLC boosted its stake in Universal Display by 87.9% in the first quarter. Rise Advisors LLC now owns 186 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 87 shares during the last quarter. Whittier Trust Co. bought a new position in Universal Display during the 2nd quarter worth approximately $30,000. Parkside Financial Bank & Trust grew its holdings in Universal Display by 236.7% during the second quarter. Parkside Financial Bank & Trust now owns 202 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 142 shares during the period. Smartleaf Asset Management LLC increased its stake in Universal Display by 309.8% in the third quarter. Smartleaf Asset Management LLC now owns 209 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 158 shares in the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new stake in Universal Display in the second quarter worth $39,000. 78.19% of the stock is owned by institutional investors and hedge funds.

Universal Display Price Performance

The company has a market capitalization of $5.62 billion, a P/E ratio of 23.18, a PEG ratio of 4.38 and a beta of 1.60. The business’s 50-day moving average price is $143.39 and its two-hundred day moving average price is $146.12.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Thursday, November 6th. The semiconductor company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.27). The company had revenue of $139.61 million during the quarter, compared to the consensus estimate of $165.56 million. Universal Display had a net margin of 36.95% and a return on equity of 15.82%. The business’s quarterly revenue was down 13.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.40 EPS. Universal Display has set its FY 2025 guidance at EPS. Research analysts expect that Universal Display Corporation will post 4.71 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be paid a $0.45 dividend. The ex-dividend date is Wednesday, December 17th. This represents a $1.80 annualized dividend and a yield of 1.5%. Universal Display’s payout ratio is presently 38.79%.

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.