Universal Display Co. (NASDAQ:OLED) announced a quarterly dividend on Friday, May 3rd, Wall Street Journal reports. Stockholders of record on Friday, June 14th will be given a dividend of 0.10 per share by the semiconductor company on Friday, June 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend is Thursday, June 13th.
Universal Display has a dividend payout ratio of 21.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Universal Display to earn $3.64 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 11.0%.
OLED stock opened at $172.17 on Wednesday. The firm has a market cap of $7.64 billion, a PE ratio of 138.85, a PEG ratio of 2.21 and a beta of 1.44. Universal Display has a twelve month low of $78.75 and a twelve month high of $190.00.
Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, May 2nd. The semiconductor company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.40. The company had revenue of $87.80 million during the quarter, compared to the consensus estimate of $64.59 million. Universal Display had a return on equity of 12.35% and a net margin of 28.93%. The firm’s quarterly revenue was up 101.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.13 earnings per share. On average, research analysts forecast that Universal Display will post 2.44 EPS for the current year.
A number of research firms have recently weighed in on OLED. Zacks Investment Research downgraded Universal Display from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Susquehanna Bancshares restated a “neutral” rating and set a $180.00 target price on shares of Universal Display in a research report on Monday, April 29th. Citigroup downgraded Universal Display from a “buy” rating to a “neutral” rating and set a $167.89 target price for the company. in a research report on Friday, May 10th. Roth Capital set a $194.00 target price on Universal Display and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, Needham & Company LLC restated a “buy” rating and set a $200.00 target price (up previously from $140.00) on shares of Universal Display in a research report on Friday, May 3rd. Four analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $160.44.
In related news, Director Rosemarie B. Greco sold 4,425 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $171.13, for a total value of $757,250.25. Following the completion of the sale, the director now owns 6,793 shares in the company, valued at $1,162,486.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Janice K. Mahon sold 20,819 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $170.24, for a total value of $3,544,226.56. Following the completion of the sale, the vice president now owns 37,039 shares of the company’s stock, valued at approximately $6,305,519.36. The disclosure for this sale can be found here. Insiders sold 50,283 shares of company stock valued at $8,349,492 in the last quarter. 3.70% of the stock is currently owned by corporate insiders.
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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 flat panel displays and solid-state lighting applications. As of February 21, 2019, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 5,000 issued and pending patents worldwide.
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