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

Universal Display Co. (NASDAQ:OLED) announced a quarterly dividend on Thursday, May 2nd, Zacks reports. Investors of record on Friday, June 14th will be paid a dividend of 0.40 per share by the semiconductor company on Friday, June 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Friday, June 14th.

Universal Display has increased its dividend payment by an average of 32.6% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. Universal Display has a dividend payout ratio of 28.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Universal Display to earn $5.39 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 29.7%.

Universal Display Stock Up 9.3 %

OLED traded up $14.50 during trading on Friday, hitting $170.82. 736,345 shares of the stock were exchanged, compared to its average volume of 256,763. The firm has a market capitalization of $8.10 billion, a P/E ratio of 37.13, a PEG ratio of 1.70 and a beta of 1.44. Universal Display has a 1-year low of $131.00 and a 1-year high of $194.84. The stock has a fifty day moving average price of $163.28 and a two-hundred day moving average price of $169.01.

Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.05 by $0.14. Universal Display had a net margin of 36.00% and a return on equity of 15.84%. The firm had revenue of $165.26 million during the quarter, compared to the consensus estimate of $150.75 million. During the same quarter in the prior year, the firm earned $0.83 EPS. Universal Display’s revenue for the quarter was up 26.7% on a year-over-year basis. Analysts predict that Universal Display will post 4.72 EPS for the current year.

Analyst Upgrades and Downgrades

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

About Universal Display

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.