Pacer Advisors Inc. Sells 107,837 Shares of Universal Display Corporation $OLED

Pacer Advisors Inc. lowered its holdings in Universal Display Corporation (NASDAQ:OLED) by 95.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 5,370 shares of the semiconductor company’s stock after selling 107,837 shares during the period. Pacer Advisors Inc.’s holdings in Universal Display were worth $492,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the business. Lido Advisors LLC lifted its holdings in shares of Universal Display by 1.7% during the third quarter. Lido Advisors LLC now owns 5,783 shares of the semiconductor company’s stock worth $831,000 after buying an additional 95 shares during the last quarter. Sigma Planning Corp grew its stake in shares of Universal Display by 1.0% in the fourth quarter. Sigma Planning Corp now owns 10,390 shares of the semiconductor company’s stock worth $1,210,000 after acquiring an additional 103 shares during the last quarter. Certuity LLC grew its stake in shares of Universal Display by 4.3% in the third quarter. Certuity LLC now owns 2,556 shares of the semiconductor company’s stock worth $367,000 after acquiring an additional 105 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its position in Universal Display by 2.8% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 3,869 shares of the semiconductor company’s stock worth $452,000 after acquiring an additional 107 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in Universal Display by 5.7% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,999 shares of the semiconductor company’s stock worth $287,000 after acquiring an additional 108 shares during the period. 78.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on OLED. BTIG Research downgraded shares of Universal Display to a “neutral” rating in a report on Friday, July 31st. Weiss Ratings downgraded shares of Universal Display from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 28th. The Goldman Sachs Group set a $135.00 price objective on shares of Universal Display in a research report on Tuesday, April 21st. Oppenheimer reiterated an “outperform” rating and issued a $120.00 target price (down from $130.00) on shares of Universal Display in a research note on Friday, July 31st. Finally, Susquehanna decreased their target price on Universal Display from $110.00 to $90.00 and set a “neutral” rating on the stock in a research report on Friday, July 31st. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $116.33.

Universal Display Trading Up 3.9%

Shares of NASDAQ OLED opened at $94.04 on Wednesday. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of 22.77 and a beta of 1.54. Universal Display Corporation has a one year low of $76.42 and a one year high of $153.38. The business has a fifty day simple moving average of $84.64 and a 200 day simple moving average of $95.42.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.03. The firm had revenue of $152.16 million for the quarter, compared to the consensus estimate of $157.54 million. Universal Display had a net margin of 32.24% and a return on equity of 11.35%. The business’s revenue was down 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.41 earnings per share. On average, research analysts anticipate that Universal Display Corporation will post 4.18 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, September 16th. Universal Display’s dividend payout ratio (DPR) is presently 48.43%.

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.