Universal Display (NASDAQ:OLED) Hits New 12-Month Low – Here’s What Happened

Universal Display Co. (NASDAQ:OLED)’s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $144.78 and last traded at $145.07, with a volume of 25556 shares trading hands. The stock had previously closed at $148.07.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on OLED shares. TD Cowen lowered their price objective on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Needham & Company LLC lowered their price target on Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Finally, Oppenheimer dropped their price objective on Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, January 2nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Universal Display presently has an average rating of “Moderate Buy” and an average target price of $207.86.

Universal Display Price Performance

The company’s 50 day simple moving average is $159.93 and its 200 day simple moving average is $187.68. The firm has a market cap of $6.93 billion, a price-to-earnings ratio of 29.31, a P/E/G ratio of 1.74 and a beta of 1.40.

Universal Display (NASDAQ:OLED) last released its earnings results on Wednesday, October 30th. The semiconductor company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.19 by $0.21. The firm had revenue of $161.63 million during the quarter, compared to analysts’ expectations of $165.28 million. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. Universal Display’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.08 EPS. As a group, analysts forecast that Universal Display Co. will post 4.8 earnings per share for the current year.

Universal Display Dividend Announcement

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

Insider Buying and Selling

In other news, Director Lawrence Lacerte acquired 742 shares of the company’s 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 transaction, the director now owns 122,372 shares in the company, valued at approximately $22,135,871.08. This trade represents a 0.61 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Universal Display

A number of institutional investors and hedge funds have recently modified their holdings of the company. Glenmede Trust Co. NA lifted its holdings in Universal Display by 1.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 6,046 shares of the semiconductor company’s stock worth $1,269,000 after buying an additional 97 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Universal Display by 8.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 52,713 shares of the semiconductor company’s stock worth $11,064,000 after acquiring an additional 4,269 shares in the last quarter. Montanaro Asset Management Ltd lifted its stake in Universal Display by 217.4% during the third quarter. Montanaro Asset Management Ltd now owns 63,260 shares of the semiconductor company’s stock worth $13,278,000 after purchasing an additional 43,330 shares during the last quarter. Cerity Partners LLC boosted its holdings in Universal Display by 385.2% in the third quarter. Cerity Partners LLC now owns 8,588 shares of the semiconductor company’s stock valued at $1,803,000 after purchasing an additional 6,818 shares in the last quarter. Finally, ProShare Advisors LLC increased its stake in Universal Display by 117.2% in the second quarter. ProShare Advisors LLC now owns 18,762 shares of the semiconductor company’s stock valued at $3,945,000 after purchasing an additional 10,122 shares during the last quarter. Institutional investors and hedge funds 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.