Universal Display (NASDAQ:OLED) Sets New 52-Week Low – Here’s What Happened

Universal Display Co. (NASDAQ:OLED)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $148.09 and last traded at $149.69, with a volume of 339081 shares trading hands. The stock had previously closed at $155.85.

Wall Street Analyst Weigh In

OLED has been the topic of several analyst reports. Oppenheimer cut their target price on Universal Display from $240.00 to $220.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. TD Cowen reduced their target price on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Finally, Needham & Company LLC dropped their price target on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Two 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $210.71.

Universal Display Trading Down 0.7 %

The business has a 50-day moving average price of $176.86 and a 200-day moving average price of $193.47. The firm has a market cap of $7.10 billion, a P/E ratio of 30.03, a P/E/G ratio of 1.74 and a beta of 1.39.

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

Universal Display Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $1.60 annualized dividend and a yield of 1.07%. Universal Display’s dividend payout ratio (DPR) is presently 32.13%.

Insiders Place Their Bets

In other news, Director Lawrence Lacerte bought 742 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average price of $180.89 per share, for a total transaction of $134,220.38. Following the completion of the transaction, the director now directly owns 122,372 shares in the company, valued at approximately $22,135,871.08. This represents a 0.61 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Universal Display

Hedge funds have recently added to or reduced their stakes in the company. Assetmark Inc. acquired a new position in shares of Universal Display during the 3rd quarter worth approximately $29,000. Brooklyn Investment Group purchased a new position in Universal Display during the third quarter worth about $30,000. V Square Quantitative Management LLC acquired a new position in Universal Display in the 3rd quarter valued at about $31,000. Nisa Investment Advisors LLC grew its stake in shares of Universal Display by 60.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company’s stock valued at $36,000 after buying an additional 65 shares during the period. Finally, True Wealth Design LLC acquired a new stake in shares of Universal Display during the 3rd quarter worth approximately $36,000. 78.19% of the stock is owned by hedge funds and other 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.