Universal Display Co. (NASDAQ:OLED) announced a quarterly dividend on Thursday, August 1st, Zacks reports. Stockholders of record on Monday, September 16th will be given 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 dividend yield of 0.21%. The ex-dividend date is Friday, September 13th.
Universal Display has a payout ratio of 21.9% meaning its dividend is sufficiently covered by earnings. Research 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%.
OLED stock traded up $4.78 during mid-day trading on Wednesday, reaching $194.92. 414,325 shares of the company’s stock were exchanged, 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 price-to-earnings-growth ratio of 2.62 and a beta of 1.53. The stock’s 50 day moving average is $209.95 and its 200 day moving average is $178.05. Universal Display has a 12-month low of $78.78 and a 12-month high of $230.32.
In related news, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Steven V. Abramson sold 31,182 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $222.02, for a total transaction of $6,923,027.64. Following the sale, the chief executive officer now directly owns 146,493 shares of the company’s stock, valued at approximately $32,524,375.86. The disclosure for this sale can be found here. Insiders have sold 194,907 shares of company stock valued at $39,103,772 in the last ninety days. Insiders own 3.70% of the company’s stock.
Several equities research analysts recently commented on OLED shares. Roth Capital boosted their price target on shares of Universal Display from $172.00 to $206.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Needham & Company LLC downgraded shares of Universal Display from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Citigroup lifted their target price on shares of Universal Display from $180.00 to $223.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Deutsche Bank set a $230.00 target price on shares of Universal Display and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, ValuEngine downgraded shares of Universal Display from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 2nd. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $183.29.
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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