Universal Display Co. (NASDAQ:OLED) declared a quarterly dividend on Thursday, August 1st, Zacks reports. Shareholders of record on Monday, September 16th will be paid a dividend of 0.10 per share by the semiconductor company on Monday, September 30th. This represents a $0.40 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date is Friday, September 13th.
Universal Display has a payout ratio of 21.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Universal Display to earn $3.88 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 10.3%.
Shares of NASDAQ:OLED traded up $3.19 during trading on Wednesday, hitting $193.33. 73,281 shares of the stock traded hands, compared to its average volume of 516,262. The company has a market cap of $9.94 billion, a price-to-earnings ratio of 157.19, a P/E/G ratio of 2.62 and a beta of 1.53. The company has a fifty day moving average price of $209.95 and a two-hundred day moving average price of $178.05. Universal Display has a 52-week low of $78.78 and a 52-week high of $230.32.
A number of equities analysts have weighed in on the stock. Roth Capital upped their price objective on shares of Universal Display from $172.00 to $206.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Needham & Company LLC lowered Universal Display from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Oppenheimer cut Universal Display from an “outperform” rating to a “market perform” rating and set a $190.50 target price for the company. in a report on Wednesday, July 10th. They noted that the move was a valuation call. Berenberg Bank started coverage on Universal Display in a research report on Wednesday, July 24th. They issued a “hold” rating and a $192.00 target price on the stock. Finally, BidaskClub lowered Universal Display from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 18th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Universal Display currently has an average rating of “Hold” and a consensus price target of $183.29.
In other news, Director C Keith Hartley sold 10,528 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $214.27, for a total transaction of $2,255,834.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Steven V. Abramson sold 30,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $179.64, for a total transaction of $5,389,200.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 194,907 shares of company stock worth $39,103,772. Insiders own 3.70% of the company’s stock.
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 flat panel displays and solid-state lighting applications. As of February 21, 2019, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 5,000 issued and pending patents worldwide.
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