Universal Display Corporation (NASDAQ:OLED) to Issue Quarterly Dividend of $0.50

Universal Display Corporation (NASDAQ:OLED) announced a quarterly dividend on Thursday, July 30th. Stockholders of record on Wednesday, September 16th will be paid a dividend of 0.50 per share by the semiconductor company on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Wednesday, September 16th.

Universal Display has raised its dividend by an average of 0.2%per year over the last three years and has raised its dividend annually for the last 8 consecutive years. Universal Display has a dividend payout ratio of 35.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Universal Display to earn $4.97 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 40.2%.

Universal Display Price Performance

OLED opened at $80.36 on Friday. The firm has a 50 day simple moving average of $85.73 and a 200 day simple moving average of $97.26. Universal Display has a fifty-two week low of $77.15 and a fifty-two week high of $153.38. The company has a market cap of $3.76 billion, a price-to-earnings ratio of 17.94 and a beta of 1.54.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.02. Universal Display had a net margin of 34.08% and a return on equity of 12.34%. The firm had revenue of $152.16 million for the quarter, compared to analysts’ expectations of $157.54 million. During the same period last year, the firm earned $1.41 earnings per share. The business’s revenue for the quarter was down 11.4% on a year-over-year basis. As a group, analysts expect that Universal Display will post 4.23 EPS for the current year.

Analysts Set New Price Targets

OLED has been the topic of a number of analyst reports. Zacks Research downgraded Universal Display from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 21st. Roth Capital set a $168.00 target price on Universal Display in a research note on Friday, May 1st. Needham & Company LLC reduced their target price on Universal Display from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Friday. BTIG Research lowered Universal Display to a “neutral” rating in a research report on Friday. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $120.00 price target on shares of Universal Display in a research note on Friday. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $118.83.

About Universal Display

Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.