Vest Financial LLC decreased its holdings in shares of Universal Display Corporation (NASDAQ:OLED – Free Report) by 11.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 64,769 shares of the semiconductor company’s stock after selling 7,977 shares during the quarter. Vest Financial LLC’s holdings in Universal Display were worth $4,990,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. TD Waterhouse Canada Inc. lifted its position in Universal Display by 1,916.1% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 5,262 shares of the semiconductor company’s stock worth $408,000 after buying an additional 5,001 shares in the last quarter. Pension & Wealth Management Advisors Inc. acquired a new position in shares of Universal Display during the 3rd quarter worth about $28,000. NFSG Corp acquired a new position in shares of Universal Display during the 3rd quarter worth about $31,000. Assenagon Asset Management S.A. grew its holdings in shares of Universal Display by 10.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 38,500 shares of the semiconductor company’s stock valued at $2,966,000 after acquiring an additional 3,548 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in shares of Universal Display by 54.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 6,561 shares of the semiconductor company’s stock valued at $504,000 after acquiring an additional 2,300 shares in the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.
Universal Display Price Performance
Shares of OLED opened at $86.98 on Friday. The firm has a 50-day moving average of $80.52 and a 200-day moving average of $85.97. Universal Display Corporation has a one year low of $70.77 and a one year high of $152.24. The company has a market cap of $4.00 billion, a PE ratio of 21.06 and a beta of 1.53.
Universal Display (NASDAQ:OLED – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.03. The company had revenue of $152.16 million for the quarter, compared to analyst estimates of $157.54 million. Universal Display had a net margin of 32.24% and a return on equity of 11.35%. Universal Display’s revenue for the quarter was down 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.41 EPS. Analysts expect that Universal Display Corporation will post 4.17 earnings per share for the current year.
Universal Display Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.3%. Universal Display’s dividend payout ratio (DPR) is presently 48.43%.
Analyst Ratings Changes
A number of analysts recently issued reports on the company. Citigroup downgraded Universal Display from a “neutral” rating to a “sell” rating and lowered their target price for the company from $85.00 to $71.00 in a research report on Thursday, October 8th. Weiss Ratings cut Universal Display from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. BTIG Research downgraded Universal Display to a “neutral” rating in a research note on Friday, July 31st. Needham & Company LLC decreased their price target on Universal Display from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $120.00 price target (down from $130.00) on shares of Universal Display in a research report on Friday, July 31st. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $114.00.
Get Our Latest Research Report on OLED
Universal Display Profile
Universal Display Corporation (NASDAQ: OLED) develops and commercializes technologies and materials used in organic light-emitting diode (OLED) displays and lighting. The company’s portfolio includes phosphorescent OLED (PHOLED) materials, which are designed to improve display efficiency, along with OLED research, development and manufacturing technologies.
Universal Display supplies OLED emitter materials and related products to display manufacturers and licenses its intellectual property and technology.
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