Universal Display (NASDAQ:OLED) Hits New 12-Month Low – Time to Sell?

Shares of Universal Display Corporation (NASDAQ:OLED) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $82.83 and last traded at $83.05, with a volume of 654077 shares trading hands. The stock had previously closed at $86.59.

Analyst Ratings Changes

OLED has been the topic of several research analyst reports. Zacks Research cut shares of Universal Display from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 21st. Roth Mkm set a $168.00 target price on shares of Universal Display in a research note on Friday, May 1st. Citigroup reduced their target price on Universal Display from $105.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, May 4th. Needham & Company LLC decreased their price target on Universal Display from $145.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Universal Display in a report on Thursday, June 18th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Universal Display presently has an average rating of “Hold” and an average price target of $130.60.

Universal Display Stock Performance

The stock has a 50-day simple moving average of $91.46 and a 200 day simple moving average of $103.39. The stock has a market capitalization of $3.88 billion, a P/E ratio of 18.54 and a beta of 1.54.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, April 30th. The semiconductor company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.37). Universal Display had a return on equity of 12.34% and a net margin of 34.08%.The firm had revenue of $142.21 million for the quarter, compared to the consensus estimate of $161.23 million. During the same period in the prior year, the firm posted $1.35 earnings per share. The business’s revenue for the quarter was down 14.5% compared to the same quarter last year. Equities analysts predict that Universal Display Corporation will post 4.23 earnings per share for the current year.

Universal Display Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. Universal Display’s payout ratio is 44.64%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Measured Wealth Private Client Group LLC acquired a new position in Universal Display in the third quarter valued at about $33,000. RHL Group LLC acquired a new stake in Universal Display in the 4th quarter valued at $60,000. Canada Pension Plan Investment Board acquired a new stake in shares of Universal Display in the second quarter valued at about $62,000. UMB Bank n.a. raised its stake in shares of Universal Display by 28.3% during the 4th quarter. UMB Bank n.a. now owns 549 shares of the semiconductor company’s stock worth $64,000 after purchasing an additional 121 shares in the last quarter. Finally, Global X Japan Co. Ltd. raised its position in Universal Display by 61.6% during the fourth quarter. Global X Japan Co. Ltd. now owns 580 shares of the semiconductor company’s stock worth $68,000 after acquiring an additional 221 shares in the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

About Universal Display

Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.