Universal Display Corporation $OLED Stock: ProShare Advisors LLC Raises Stake

ProShare Advisors LLC raised its holdings in Universal Display Corporation (NASDAQ:OLED – Free Report) by 16.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 90,421 shares of the semiconductor company’s stock after buying an additional 13,015 shares during the quarter. ProShare Advisors LLC owned 0.20% of Universal Display worth $6,966,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of OLED. Pension & Wealth Management Advisors Inc. bought a new stake in Universal Display in the 3rd quarter valued at about $28,000. NFSG Corp acquired a new position in shares of Universal Display during the third quarter worth approximately $31,000. Elevation Wealth Partners LLC acquired a new stake in Universal Display in the 3rd quarter valued at $51,000. Versant Capital Management Inc increased its stake in Universal Display by 347.8% during the 3rd quarter. Versant Capital Management Inc now owns 703 shares of the semiconductor company’s stock valued at $54,000 after purchasing an additional 546 shares in the last quarter. Finally, Signaturefd LLC increased its stake in Universal Display by 110.3% during the 3rd quarter. Signaturefd LLC now owns 936 shares of the semiconductor company’s stock valued at $72,000 after purchasing an additional 491 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors.

Universal Display Trading Up 0.2%

Shares of Universal Display stock opened at $89.57 on Thursday. The business’s fifty day simple moving average is $80.93 and its 200 day simple moving average is $91.73. The firm has a market capitalization of $4.03 billion, a P/E ratio of 18.17 and a beta of 1.51. Universal Display Corporation has a 12 month low of $70.77 and a 12 month high of $147.68.

Universal Display (NASDAQ:OLED – Get Free Report) last announced its earnings results on Wednesday, October 28th. The semiconductor company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.10. The firm had revenue of $160.43 million during the quarter, compared to analyst estimates of $162.72 million. Universal Display had a return on equity of 12.20% and a net margin of 36.74%. The business’s revenue was up 14.9% compared to the same quarter last year. During the same period last year, the firm posted $0.92 EPS. Analysts predict that Universal Display Corporation will post 4.43 EPS for the current fiscal year.

Universal Display Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Thursday, December 17th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, December 17th. Universal Display’s dividend payout ratio (DPR) is currently 40.57%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. BTIG Research downgraded shares of Universal Display to a “neutral” rating in a research report on Friday, July 31st. Oppenheimer lowered their price objective on Universal Display from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, October 29th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Universal Display in a research report on Monday, October 26th. Zacks Research upgraded Universal Display from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. Finally, Citigroup cut Universal Display from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $85.00 to $71.00 in a research note on Thursday, October 8th. Three research 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. According to data from MarketBeat.com, Universal Display presently has an average rating of “Hold” and an average target price of $114.00.

Read Our Latest Stock Analysis on Universal Display

About Universal Display

(Free Report)

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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Institutional Ownership by Quarter for Universal Display (NASDAQ:OLED)

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