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

Universal Display Co. (NASDAQ:OLED) announced a quarterly dividend on Wednesday, October 30th, Zacks reports. Stockholders of record on Tuesday, December 17th will be given a dividend of 0.40 per share by the semiconductor company on Tuesday, December 31st. This represents a $1.60 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Tuesday, December 17th.

Universal Display has raised its dividend payment by an average of 32.6% annually over the last three years. Universal Display has a dividend payout ratio of 28.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Universal Display to earn $5.34 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 30.0%.

Universal Display Stock Performance

Shares of OLED opened at $180.32 on Friday. The company has a market capitalization of $8.56 billion, a price-to-earnings ratio of 36.21, a PEG ratio of 2.17 and a beta of 1.42. The company’s 50 day simple moving average is $201.79 and its 200 day simple moving average is $193.89. Universal Display has a 1 year low of $133.67 and a 1 year high of $237.00.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.20. The business had revenue of $161.63 million for the quarter, compared to the consensus estimate of $165.28 million. Universal Display had a net margin of 36.98% and a return on equity of 16.01%. The company’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.08 earnings per share. Equities analysts expect that Universal Display will post 4.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

OLED has been the topic of several recent analyst reports. The Goldman Sachs Group upped their price objective on shares of Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Oppenheimer cut their price target on shares of Universal Display from $240.00 to $220.00 and set an “outperform” rating on the stock in a research note on Thursday. TD Cowen cut their price target on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday. Roth Mkm increased their price target on shares of Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Needham & Company LLC cut their price target on shares of Universal Display from $242.00 to $215.00 and set a “buy” rating on the stock in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $215.63.

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.