Universal Display (NASDAQ:OLED) Trading 7.2% Higher After Earnings Beat

Universal Display Co. (NASDAQ:OLED)’s stock price shot up 7.2% on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $157.87 and last traded at $157.95. 272,607 shares were traded during trading, a decline of 59% from the average session volume of 669,251 shares. The stock had previously closed at $147.34.

The semiconductor company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.08 by $0.14. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. The business had revenue of $162.29 million for the quarter, compared to analyst estimates of $152.75 million.

Universal Display Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from Universal Display’s previous quarterly dividend of $0.40. Universal Display’s dividend payout ratio is 32.13%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on OLED. Needham & Company LLC decreased their price target on Universal Display from $215.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday. TD Cowen cut their price objective on Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. The Goldman Sachs Group cut their price objective on Universal Display from $234.00 to $203.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Susquehanna cut their price objective on Universal Display from $165.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Oppenheimer cut their price objective on Universal Display from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, January 2nd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $190.43.

Institutional Investors Weigh In On Universal Display

Several large investors have recently bought and sold shares of OLED. Assetmark Inc. purchased a new stake in Universal Display during the 3rd quarter worth about $29,000. Orion Capital Management LLC purchased a new stake in Universal Display during the 4th quarter worth about $29,000. Brooklyn Investment Group purchased a new stake in Universal Display during the 3rd quarter worth about $30,000. Brown Brothers Harriman & Co. increased its holdings in Universal Display by 280.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 209 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 154 shares during the period. Finally, Nisa Investment Advisors LLC increased its holdings in Universal Display by 60.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company’s stock worth $36,000 after purchasing an additional 65 shares during the period. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Trading Up 6.8 %

The company has a fifty day simple moving average of $148.41 and a two-hundred day simple moving average of $173.75. The company has a market cap of $7.47 billion, a PE ratio of 31.59, a P/E/G ratio of 1.60 and a beta of 1.39.

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.