Universal Display Co. (NASDAQ:OLED) Announces $0.30 Quarterly Dividend

Universal Display Co. (NASDAQ:OLEDGet Rating) declared a quarterly dividend on Thursday, May 5th, Zacks reports. Investors of record on Thursday, June 16th will be paid a dividend of 0.30 per share by the semiconductor company on Thursday, June 30th. This represents a $1.20 annualized dividend and a yield of 0.89%. The ex-dividend date is Wednesday, June 15th.

Universal Display has raised its dividend by an average of 49.4% annually over the last three years and has raised its dividend annually for the last 5 consecutive years. Universal Display has a dividend payout ratio of 21.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Universal Display to earn $5.61 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 21.4%.

Shares of OLED stock opened at $134.99 on Friday. The stock has a fifty day moving average price of $152.74 and a 200 day moving average price of $155.97. The stock has a market cap of $6.37 billion, a PE ratio of 35.25, a P/E/G ratio of 1.34 and a beta of 1.42. Universal Display has a 1 year low of $125.00 and a 1 year high of $237.00.

Universal Display (NASDAQ:OLEDGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The semiconductor company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.10. The firm had revenue of $150.50 million during the quarter, compared to analysts’ expectations of $143.81 million. Universal Display had a return on equity of 18.06% and a net margin of 33.28%. Universal Display’s revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.08 earnings per share. As a group, sell-side analysts anticipate that Universal Display will post 4.54 EPS for the current year.

OLED has been the subject of several recent research reports. StockNews.com initiated coverage on Universal Display in a research report on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research raised Universal Display from a “sell” rating to a “hold” rating and set a $145.00 price target for the company in a research report on Tuesday, April 26th. Needham & Company LLC dropped their price target on Universal Display from $195.00 to $165.00 in a research report on Friday. Citigroup dropped their price target on Universal Display from $248.00 to $188.00 in a research report on Thursday, February 3rd. Finally, Oppenheimer dropped their price target on Universal Display from $225.00 to $210.00 in a research report on Thursday, February 24th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $204.89.

Several large investors have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Universal Display by 2.9% in the fourth quarter. BlackRock Inc. now owns 4,192,345 shares of the semiconductor company’s stock valued at $691,863,000 after purchasing an additional 120,006 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Universal Display by 98.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 250,815 shares of the semiconductor company’s stock valued at $41,392,000 after purchasing an additional 124,660 shares during the period. Thrivent Financial for Lutherans grew its position in shares of Universal Display by 152.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 28,563 shares of the semiconductor company’s stock valued at $4,714,000 after purchasing an additional 17,232 shares during the period. Glenmede Trust Co. NA grew its position in shares of Universal Display by 1.3% in the fourth quarter. Glenmede Trust Co. NA now owns 8,382 shares of the semiconductor company’s stock valued at $1,383,000 after purchasing an additional 110 shares during the period. Finally, MetLife Investment Management LLC grew its position in shares of Universal Display by 0.9% in the fourth quarter. MetLife Investment Management LLC now owns 21,011 shares of the semiconductor company’s stock valued at $3,467,000 after purchasing an additional 185 shares during the period. 71.15% of the stock is owned by institutional investors and hedge funds.

About Universal Display (Get Rating)

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. It owns, exclusively licenses, or has sole rights to sublicense approximately 5,500 issued and pending patents worldwide.

Further Reading

Dividend History for Universal Display (NASDAQ:OLED)

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