Universal Display Corporation $OLED Shares Sold by First Trust Advisors LP

First Trust Advisors LP decreased its holdings in Universal Display Corporation (NASDAQ:OLED) by 1.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 686,950 shares of the semiconductor company’s stock after selling 12,462 shares during the quarter. First Trust Advisors LP’s holdings in Universal Display were worth $98,667,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Peregrine Investment Management Inc. increased its holdings in shares of Universal Display by 24.7% in the 3rd quarter. Peregrine Investment Management Inc. now owns 50,560 shares of the semiconductor company’s stock valued at $7,262,000 after purchasing an additional 10,000 shares in the last quarter. Truist Financial Corp boosted its holdings in Universal Display by 54.7% during the third quarter. Truist Financial Corp now owns 63,262 shares of the semiconductor company’s stock worth $9,086,000 after buying an additional 22,380 shares in the last quarter. Baker Avenue Asset Management LP purchased a new stake in Universal Display during the second quarter worth about $1,398,000. Creative Planning grew its position in Universal Display by 12.7% during the second quarter. Creative Planning now owns 19,847 shares of the semiconductor company’s stock worth $3,066,000 after buying an additional 2,239 shares during the period. Finally, Avenir Corp grew its position in Universal Display by 14.5% during the second quarter. Avenir Corp now owns 223,150 shares of the semiconductor company’s stock worth $34,468,000 after buying an additional 28,277 shares during the period. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Trading Up 1.6%

Shares of OLED opened at $98.63 on Tuesday. The stock has a market cap of $4.65 billion, a P/E ratio of 19.45, a PEG ratio of 7.46 and a beta of 1.65. The company has a 50-day moving average of $116.55 and a two-hundred day moving average of $127.43. Universal Display Corporation has a 12-month low of $93.50 and a 12-month high of $163.21.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings results on Thursday, February 19th. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.11. Universal Display had a net margin of 37.21% and a return on equity of 14.07%. The company had revenue of $172.93 million for the quarter, compared to the consensus estimate of $173.35 million. During the same quarter in the prior year, the firm earned $1.22 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, analysts forecast that Universal Display Corporation will post 4.71 EPS for the current fiscal year.

Universal Display Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, March 17th. This is an increase from Universal Display’s previous quarterly dividend of $0.45. Universal Display’s dividend payout ratio is currently 35.50%.

Analysts Set New Price Targets

OLED has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Universal Display in a report on Wednesday, December 24th. Citigroup lowered their price target on Universal Display from $150.00 to $130.00 and set a “neutral” rating on the stock in a report on Tuesday, January 27th. Roth Mkm reaffirmed a “buy” rating and issued a $180.00 price objective on shares of Universal Display in a research note on Friday, February 20th. Zacks Research cut Universal Display from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Finally, Wall Street Zen upgraded Universal Display from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Universal Display presently has a consensus rating of “Hold” and a consensus target price of $151.67.

Universal Display Profile

Universal Display Corporation (NASDAQ: OLED) is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display’s core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.