Universal Display (NASDAQ:OLED) Stock Price Up 7.2% on Better-Than-Expected Earnings

Shares of Universal Display Co. (NASDAQ:OLED - Get Free Report) rose 7.2% during trading on Friday following a stronger than expected earnings report. The company traded as high as $157.87 and last traded at $157.95. Approximately 272,607 shares traded hands during mid-day trading, a decline of 59% from the average daily 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. The company had revenue of $162.29 million for the quarter, compared to the consensus estimate of $152.75 million. Universal Display had a return on equity of 15.51% and a net margin of 34.29%.

Universal Display Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.45 per share. The ex-dividend date is Monday, March 17th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.14%. This is an increase from Universal Display's previous quarterly dividend of $0.40. Universal Display's dividend payout ratio (DPR) is currently 38.71%.

Analysts Set New Price Targets

OLED has been the topic of a number of recent research reports. Oppenheimer lowered their price target on shares of Universal Display from $220.00 to $200.00 and set an "outperform" rating on the stock in a research report on Thursday, January 2nd. TD Cowen lowered their target price on shares of Universal Display from $250.00 to $225.00 and set a "buy" rating on the stock in a report on Thursday, October 31st. Citigroup cut their price target on Universal Display from $200.00 to $162.00 and set a "neutral" rating for the company in a research note on Monday, February 10th. Needham & Company LLC reduced their price target on Universal Display from $215.00 to $170.00 and set a "buy" rating on the stock in a research report on Friday. Finally, The Goldman Sachs Group dropped their price objective on Universal Display from $234.00 to $203.00 and set a "buy" rating for the company in a report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Universal Display has a consensus rating of "Moderate Buy" and a consensus target price of $190.43.

Institutional Trading of Universal Display

Large investors have recently made changes to their positions in the company. Assetmark Inc. acquired a new stake in shares of Universal Display in the 3rd quarter valued at $29,000. Brooklyn Investment Group bought a new stake in shares of Universal Display during the 3rd quarter worth $30,000. True Wealth Design LLC acquired a new stake in Universal Display in the third quarter valued at about $36,000. Nisa Investment Advisors LLC grew its position in Universal Display by 60.2% in the third quarter. Nisa Investment Advisors LLC now owns 173 shares of the semiconductor company's stock valued at $36,000 after acquiring an additional 65 shares during the last quarter. Finally, Orion Capital Management LLC acquired a new position in Universal Display during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 78.19% of the company's stock.

Universal Display Price Performance

The business's fifty day moving average price is $148.39 and its 200 day moving average price is $173.84. The stock has a market cap of $7.47 billion, a P/E ratio of 33.83, a PEG ratio of 1.61 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.