Why Universal Display Shares Brightened Up Today

Shares of Universal Display (NASDAQ: OLED) lit up on Thursday morning, peaking at a gain of 13.6% by 11:10 a.m. ET. The developer and materials reseller for the organic light-emitting diode (OLED) panels that you see in smartphones and high-end TV sets posted mixed fourth-quarter results last night, but also announced a long-awaited technology upgrade.

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Universal Display's fourth-quarter revenue landed at $146.2 million, 3.3% above the year-ago period. However, earnings fell from $1.13 to $0.96 per diluted share over the same time span. Your average analyst expected earnings of roughly $1 per share on revenue near $143.9 million. The company also boosted its quarterly dividend from $0.20 to $0.30 per share, which works out to an effective yield of 0.8% at today's share prices.

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Source Fool.com