Universal Display Co. Plans Quarterly Dividend of $0.40 (NASDAQ:OLED)

Universal Display Co. (NASDAQ:OLED) declared a quarterly dividend on Thursday, August 1st, Zacks reports. Investors of record on Monday, September 16th will be given a dividend of 0.40 per share by the semiconductor company on Monday, September 30th. This represents a $1.60 annualized dividend and a yield of 0.93%. The ex-dividend date is Monday, September 16th.

Universal Display has raised its dividend by an average of 32.6% annually over the last three years. Universal Display has a payout ratio of 28.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Universal Display to earn $5.28 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 30.3%.

Universal Display Stock Performance

Universal Display stock traded down $40.39 during trading on Friday, hitting $172.28. The company’s stock had a trading volume of 1,293,682 shares, compared to its average volume of 426,508. The stock has a market capitalization of $8.17 billion, a price-to-earnings ratio of 37.45, a P/E/G ratio of 2.29 and a beta of 1.42. The stock’s fifty day moving average is $207.25 and its 200 day moving average is $182.81. Universal Display has a 1-year low of $133.67 and a 1-year high of $237.00.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $1.10 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.04). The firm had revenue of $158.50 million for the quarter, compared to analyst estimates of $159.46 million. Universal Display had a return on equity of 15.48% and a net margin of 35.74%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.04 earnings per share. On average, research analysts anticipate that Universal Display will post 4.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on OLED. Susquehanna upped their target price on Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a research report on Friday. Oppenheimer upped their target price on Universal Display from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 3rd. The Goldman Sachs Group upped their target price on Universal Display from $208.00 to $243.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Needham & Company LLC upped their target price on Universal Display from $198.00 to $242.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Finally, Roth Mkm upped their target price on Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Universal Display has an average rating of “Moderate Buy” and a consensus target price of $225.88.

Insider Activity at Universal Display

In other Universal Display news, SVP Mauro Premutico sold 8,202 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $176.82, for a total transaction of $1,450,277.64. Following the sale, the senior vice president now owns 28,743 shares in the company, valued at $5,082,337.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Universal Display news, EVP Julia J. Brown sold 10,358 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $175.00, for a total transaction of $1,812,650.00. Following the sale, the executive vice president now owns 56,624 shares in the company, valued at $9,909,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Mauro Premutico sold 8,202 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $176.82, for a total value of $1,450,277.64. Following the sale, the senior vice president now owns 28,743 shares in the company, valued at $5,082,337.26. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.

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.