Universal Display Corporation $OLED Position Increased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its holdings in Universal Display Corporation (NASDAQ:OLED) by 3.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 472,363 shares of the semiconductor company’s stock after buying an additional 14,356 shares during the quarter. JPMorgan Chase & Co.’s holdings in Universal Display were worth $67,846,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Universal Display by 10.0% during the 3rd quarter. Vanguard Group Inc. now owns 5,069,107 shares of the semiconductor company’s stock worth $728,076,000 after acquiring an additional 460,792 shares in the last quarter. Primecap Management Co. CA raised its position in shares of Universal Display by 1.9% during the third quarter. Primecap Management Co. CA now owns 2,258,378 shares of the semiconductor company’s stock worth $324,371,000 after purchasing an additional 43,070 shares during the period. Norges Bank acquired a new stake in shares of Universal Display during the second quarter worth $124,480,000. Greenhouse Funds LLLP lifted its holdings in shares of Universal Display by 12.6% during the third quarter. Greenhouse Funds LLLP now owns 725,278 shares of the semiconductor company’s stock valued at $104,172,000 after purchasing an additional 81,132 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Universal Display by 14.9% in the 2nd quarter. First Trust Advisors LP now owns 699,412 shares of the semiconductor company’s stock valued at $108,031,000 after purchasing an additional 90,766 shares during the period. Institutional investors and hedge funds own 78.19% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on OLED shares. Roth Mkm reissued a “buy” rating and issued a $180.00 price target on shares of Universal Display in a research note on Friday, February 20th. Wall Street Zen raised shares of Universal Display from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Universal Display in a report on Wednesday, December 24th. Citigroup dropped their target price on shares of Universal Display from $150.00 to $130.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 27th. Finally, Needham & Company LLC cut their price target on shares of Universal Display from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Friday, February 20th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $151.67.

Universal Display Trading Down 0.0%

Shares of OLED stock opened at $95.38 on Friday. The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of 18.81, a P/E/G ratio of 7.50 and a beta of 1.65. Universal Display Corporation has a 1-year low of $93.03 and a 1-year high of $163.21. The stock’s fifty day simple moving average is $112.39 and its 200-day simple moving average is $125.05.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, February 19th. The semiconductor company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.11. Universal Display had a return on equity of 14.07% and a net margin of 37.21%.The firm had revenue of $172.93 million during the quarter, compared to the consensus estimate of $173.35 million. During the same period in the prior year, the business earned $1.22 EPS. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, sell-side analysts predict that Universal Display Corporation will post 4.71 EPS for the current year.

Universal Display Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.1%. This is a positive change from Universal Display’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Tuesday, March 17th. Universal Display’s payout ratio is currently 39.45%.

About Universal Display

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.