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

Universal Display Corporation (NASDAQ:OLED)’s stock price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $75.46 and last traded at $75.4830, with a volume of 19327 shares traded. The stock had previously closed at $76.71.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on OLED shares. Citigroup dropped their price target on Universal Display from $100.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday, August 3rd. Needham & Company LLC decreased their price objective on Universal Display from $120.00 to $100.00 and set a “buy” rating for the company in a report on Friday, July 31st. Zacks Research upgraded Universal Display from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 13th. BTIG Research downgraded shares of Universal Display to a “neutral” rating in a report on Friday, July 31st. Finally, Weiss Ratings lowered shares of Universal Display from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Universal Display currently has an average rating of “Hold” and an average target price of $116.33.

Universal Display Trading Down 3.2%

The firm has a market cap of $3.41 billion, a P/E ratio of 18.08 and a beta of 1.56. The business’s fifty day simple moving average is $83.13 and its 200-day simple moving average is $88.35.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.03. The firm had revenue of $152.16 million during the quarter, compared to analyst estimates of $157.54 million. Universal Display had a return on equity of 11.35% and a net margin of 32.24%.The business’s revenue for the quarter was down 11.4% on a year-over-year basis. During the same period last year, the company earned $1.41 earnings per share. As a group, research analysts expect that Universal Display Corporation will post 4.17 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be paid a $0.50 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $2.00 annualized dividend and a yield of 2.7%. Universal Display’s dividend payout ratio (DPR) is currently 48.43%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Tidal Investments LLC increased its position in shares of Universal Display by 84.0% during the second quarter. Tidal Investments LLC now owns 25,257 shares of the semiconductor company’s stock valued at $2,187,000 after buying an additional 11,529 shares during the period. WINTON GROUP Ltd boosted its position in shares of Universal Display by 381.2% in the second quarter. WINTON GROUP Ltd now owns 62,919 shares of the semiconductor company’s stock valued at $5,448,000 after acquiring an additional 49,844 shares during the period. Integrated Wealth Concepts LLC bought a new position in shares of Universal Display in the second quarter valued at approximately $195,000. Governors Lane LP bought a new position in shares of Universal Display in the second quarter valued at approximately $11,358,000. Finally, Allworth Financial LP grew its stake in Universal Display by 82.2% during the second quarter. Allworth Financial LP now owns 2,074 shares of the semiconductor company’s stock valued at $180,000 after acquiring an additional 936 shares in the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Company Profile

Universal Display Corporation (NASDAQ: OLED) develops and commercializes organic light-emitting diode (OLED) technologies and materials. The company’s business is centered on high-efficiency phosphorescent OLED (PHOLED) technology, which is designed to improve the performance and energy efficiency of OLED displays and lighting products.

Universal Display supplies OLED emitter materials and other related products to manufacturers and provides technology licenses, technical assistance and support under agreements covering its intellectual property.