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

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

Universal Display has increased its dividend by an average of 32.6% per year over the last three years. Universal Display has a payout ratio of 28.3% indicating that 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 Trading Down 11.2 %

Shares of NASDAQ:OLED opened at $180.32 on Friday. The firm has a market cap of $8.56 billion, a price-to-earnings ratio of 36.21, a PEG ratio of 2.17 and a beta of 1.42. Universal Display has a 12-month low of $133.67 and a 12-month high of $237.00. The stock’s 50-day moving average price is $201.79 and its two-hundred day moving average price is $193.89.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on OLED shares. The Goldman Sachs Group boosted their price objective on Universal Display from $208.00 to $243.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Roth Mkm upped their price target on Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. TD Cowen dropped their target price on Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday. Susquehanna increased their price target on Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Needham & Company LLC cut their price objective on Universal Display from $242.00 to $215.00 and set a “buy” rating for the company in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.