Universal Display Corp Stock Price, News & Analysis

Universal Display Corporation (Nasdaq: OLED) has extended its long-term partnership with LG Display Co., Ltd. by signing new OLED Technology License and Material Purchase Agreements. These agreements, which span five years, aim to enhance the collaboration on OLED technology and materials. CEO Steven V. Abramson emphasized the significance of the nearly two-decade partnership, which dates back to the era of CRT displays. No specific financial details were disclosed regarding the agreements.

Universal Display Corporation (Nasdaq: OLED) announced its participation in upcoming virtual industry conferences. Notable events include the LOPEC Conference from March 23-25, 2021, where Dr. Mike Hack will discuss phosphorescent OLED technology, and the 2021 MRS Spring Meeting from April 17-23, 2021, featuring Dr. Michael Fusella's presentation on plasmonics for light-emitting devices. As a leader in OLED technologies, the company holds over 5,000 patents and is recognized for its UniversalPHOLED^® materials that enhance energy efficiency in displays and lighting.

Universal Display Corporation (Nasdaq: OLED) and PPG (NYSE: PPG) announced a joint venture to establish a manufacturing site in Shannon, Ireland, for producing UDC’s UniversalPHOLED® materials. This facility aims to double production capacity and diversify the manufacturing base to meet rising OLED market demands. PPG, as the exclusive manufacturer, will adapt the previously operational pharmaceutical site for OLED emitter production, expecting to complete facility improvements and regulatory approvals within 12 months.

Universal Display Corporation (Nasdaq: OLED) reported strong financial results for Q4 and full year 2020. Q4 revenue reached $141.5 million, up from $101.7 million in Q4 2019. Notably, royalty and license fees doubled to $75.0 million. Full-year revenue was $428.9 million, a slight increase from $405.2 million in 2019, with a diluted EPS of $2.80. The company anticipates a revenue growth forecast for 2021 between $530 million to $560 million. Additionally, a cash dividend of $0.20 per share was announced for Q1 2021, payable March 31.

Universal Display Corporation (Nasdaq: OLED) has announced an increase in its first quarter cash dividend to $0.20 per share, up from $0.15 in the prior quarter. This dividend will be paid on March 31, 2021 to shareholders of record on March 16, 2021. The raise in the dividend reflects the company's expected ongoing cash flow generation and its commitment to returning capital to shareholders. Future dividends remain subject to Board approval.

Universal Display Corporation (Nasdaq: OLED) announced that Dr. Julie Brown, its Senior VP and CTO, has been elected to the National Academy of Engineering (NAE), a prestigious honor in the engineering field. Dr. Brown was recognized for her significant contributions to the commercialization of phosphorescent OLED technologies. Steven V. Abramson, President and CEO, praised her leadership that has strengthened the company’s position in the OLED market. Universal Display leads in OLED technology and holds over 5,000 patents worldwide, continuing to drive innovations in energy-efficient displays and lighting solutions.

Universal Display Corporation (Nasdaq: OLED) will release its fourth quarter and full year results for 2020 on February 18, 2021, after market close. A conference call will follow at 5:00 p.m. ET, accessible via the company's Investor Relations website. Universal Display leads in OLED technologies and materials, holding over 5,000 patents. Their proprietary UniversalPHOLED technology is pivotal in the development of energy-efficient displays and lighting. For further details, visit oled.com.

Universal Display Corporation (Nasdaq: OLED) announced its participation in two upcoming virtual conferences. The Needham’s 23rd Annual Virtual Growth Conference will be held on January 12, 2021, featuring Executive Vice President and CFO Sidney Rosenblatt at 2:45 PM ET. Additionally, the Department of Energy 2021 Lighting R&D Workshop is scheduled for February 1-4, 2021, with Dr. Mike Hack presenting on Lighting & Displays Cross-Cutting R&D. Universal Display specializes in OLED technologies and holds over 5,000 patents worldwide.