Universal Display (NASDAQ:OLED) Issues Quarterly Earnings Results

Universal Display (NASDAQ:OLED) posted its quarterly earnings data on Thursday. The semiconductor company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.14, Briefing.com reports. The company had revenue of $165.26 million during the quarter, compared to analysts’ expectations of $150.75 million. Universal Display had a return on equity of 14.85% and a net margin of 35.22%. Universal Display’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.83 earnings per share.

Universal Display Stock Up 9.3 %

NASDAQ:OLED traded up $14.50 during trading hours on Friday, reaching $170.82. The company had a trading volume of 736,271 shares, compared to its average volume of 288,423. The stock has a 50-day moving average of $163.30 and a two-hundred day moving average of $168.95. Universal Display has a one year low of $131.00 and a one year high of $194.84. The firm has a market capitalization of $8.10 billion, a PE ratio of 40.29, a PEG ratio of 1.66 and a beta of 1.44.

Universal Display Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.40 dividend. This is a positive change from Universal Display’s previous quarterly dividend of $0.35. The ex-dividend date was Thursday, March 14th. This represents a $1.60 annualized dividend and a yield of 0.94%. Universal Display’s payout ratio is currently 37.74%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Needham & Company LLC restated a “buy” rating and issued a $198.00 price target on shares of Universal Display in a research report on Friday. Citigroup reaffirmed a “neutral” rating and issued a $180.00 price target (up previously from $161.00) on shares of Universal Display in a report on Friday, January 19th. Oppenheimer reissued an “outperform” rating and set a $200.00 price objective (down previously from $210.00) on shares of Universal Display in a report on Friday, February 23rd. Finally, TD Cowen upped their target price on Universal Display from $165.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $199.86.

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.