Universal Display (NASDAQ:OLED) Trading Down 5.3% on Analyst Downgrade

Universal Display Corporation (NASDAQ:OLED) traded down 5.3% during mid-day trading on Monday after Needham & Company LLC lowered their price target on the stock from $170.00 to $150.00. Needham & Company LLC currently has a buy rating on the stock. Universal Display traded as low as $118.84 and last traded at $118.30. 217,494 shares were traded during mid-day trading, a decline of 67% from the average session volume of 651,229 shares. The stock had previously closed at $124.93.

Other analysts have also recently issued research reports about the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Universal Display in a research note on Wednesday, October 8th. Zacks Research raised shares of Universal Display from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Universal Display presently has an average rating of “Moderate Buy” and an average price target of $181.33.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in OLED. Envestnet Asset Management Inc. grew its holdings in Universal Display by 44.2% during the first quarter. Envestnet Asset Management Inc. now owns 286,320 shares of the semiconductor company’s stock worth $39,936,000 after acquiring an additional 87,801 shares during the period. Strs Ohio bought a new position in shares of Universal Display during the 1st quarter valued at about $819,000. Intech Investment Management LLC grew its stake in shares of Universal Display by 174.3% in the 1st quarter. Intech Investment Management LLC now owns 94,803 shares of the semiconductor company’s stock worth $13,223,000 after purchasing an additional 60,238 shares during the last quarter. Truist Financial Corp raised its holdings in shares of Universal Display by 0.5% in the 2nd quarter. Truist Financial Corp now owns 40,882 shares of the semiconductor company’s stock worth $6,315,000 after purchasing an additional 190 shares in the last quarter. Finally, Stephens Inc. AR bought a new stake in Universal Display during the first quarter worth approximately $270,000. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Stock Down 5.3%

The company has a market capitalization of $5.62 billion, a PE ratio of 23.18, a price-to-earnings-growth ratio of 4.38 and a beta of 1.60. The business’s 50 day simple moving average is $143.39 and its 200 day simple moving average is $146.12.

Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, November 6th. The semiconductor company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.27). The business had revenue of $139.61 million for the quarter, compared to analysts’ expectations of $165.56 million. Universal Display had a net margin of 36.95% and a return on equity of 15.82%. The company’s revenue was down 13.6% compared to the same quarter last year. During the same period last year, the firm earned $1.40 EPS. Universal Display has set its FY 2025 guidance at EPS. On average, analysts anticipate that Universal Display Corporation will post 4.71 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Wednesday, December 17th. Universal Display’s payout ratio is currently 38.79%.

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.