Universal Display (NASDAQ:OLED) Sets New 1-Year Low – Here’s Why

Universal Display Co. (NASDAQ:OLED) shares reached a new 52-week low on Monday . The stock traded as low as $144.78 and last traded at $145.07, with a volume of 25556 shares traded. The stock had previously closed at $148.07.

Wall Street Analysts Forecast Growth

OLED has been the topic of a number of research reports. Oppenheimer decreased their price target on shares of Universal Display from $220.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, January 2nd. TD Cowen decreased 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. Finally, Needham & Company LLC lowered their price target on Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Universal Display presently has an average rating of “Moderate Buy” and a consensus price target of $207.86.

Universal Display Stock Performance

The company has a market cap of $6.93 billion, a PE ratio of 29.31, a PEG ratio of 1.74 and a beta of 1.40. The firm’s 50 day moving average is $159.93 and its 200-day moving average is $187.68.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results 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 business had revenue of $161.63 million during the quarter, compared to analyst estimates of $165.28 million. During the same period in the prior year, the business earned $1.08 earnings per share. The business’s revenue was up 14.6% compared to the same quarter last year. On average, analysts predict that Universal Display Co. will post 4.8 EPS for the current year.

Universal Display Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Tuesday, December 17th. Universal Display’s dividend payout ratio (DPR) is presently 32.13%.

Insider Transactions at Universal Display

In other news, Director Lawrence Lacerte bought 742 shares of Universal Display stock in a transaction on Monday, November 4th. The shares were bought at an average cost of $180.89 per share, with a total value of $134,220.38. Following the completion of the purchase, the director now directly owns 122,372 shares of the company’s stock, valued at approximately $22,135,871.08. This trade represents a 0.61 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.90% of the company’s stock.

Institutional Trading of Universal Display

Several hedge funds have recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC acquired a new position in Universal Display in the second quarter valued at approximately $127,668,000. Citigroup Inc. raised its position in Universal Display by 1,387.6% in the third quarter. Citigroup Inc. now owns 261,723 shares of the semiconductor company’s stock valued at $54,936,000 after purchasing an additional 244,129 shares during the period. Raymond James & Associates raised its position in Universal Display by 629.9% in the third quarter. Raymond James & Associates now owns 269,414 shares of the semiconductor company’s stock valued at $56,550,000 after purchasing an additional 232,503 shares during the period. Barclays PLC lifted its stake in shares of Universal Display by 753.8% in the 3rd quarter. Barclays PLC now owns 212,518 shares of the semiconductor company’s stock valued at $44,608,000 after purchasing an additional 187,627 shares during the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of Universal Display during the 2nd quarter worth $34,558,000. Hedge funds and other institutional investors own 78.19% of the company’s stock.

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.