Strs Ohio Decreases Stock Position in Universal Display Corporation $OLED

Strs Ohio cut its holdings in shares of Universal Display Corporation (NASDAQ:OLED) by 83.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,050 shares of the semiconductor company’s stock after selling 5,475 shares during the period. Strs Ohio’s holdings in Universal Display were worth $151,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Focus Partners Wealth lifted its position in shares of Universal Display by 6.4% in the 1st quarter. Focus Partners Wealth now owns 3,680 shares of the semiconductor company’s stock worth $513,000 after buying an additional 221 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Universal Display by 79.2% in the second quarter. Farther Finance Advisors LLC now owns 276 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 122 shares during the period. HB Wealth Management LLC acquired a new position in Universal Display during the second quarter worth about $236,000. Truist Financial Corp boosted its holdings in Universal Display by 0.5% during the second quarter. Truist Financial Corp now owns 40,882 shares of the semiconductor company’s stock worth $6,315,000 after buying an additional 190 shares in the last quarter. Finally, QRG Capital Management Inc. acquired a new position in shares of Universal Display in the 2nd quarter worth $225,000. 78.19% of the stock is currently owned by institutional investors.

Universal Display Stock Performance

OLED opened at $117.24 on Wednesday. Universal Display Corporation has a 52 week low of $103.70 and a 52 week high of $164.29. The company has a fifty day moving average price of $119.53 and a two-hundred day moving average price of $132.65. The firm has a market capitalization of $5.57 billion, a PE ratio of 25.27, a P/E/G ratio of 3.32 and a beta of 1.63.

Universal Display (NASDAQ:OLED) last issued its earnings results on Thursday, November 6th. The semiconductor company reported $0.92 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.27). Universal Display had a net margin of 34.65% and a return on equity of 14.10%. The firm had revenue of $139.61 million during the quarter, compared to the consensus estimate of $165.56 million. During the same period in the previous year, the company posted $1.40 EPS. The firm’s revenue for the quarter was down 13.6% on a year-over-year basis. Equities analysts forecast that Universal Display Corporation will post 4.71 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on OLED shares. Zacks Research cut Universal Display from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Citigroup reduced their price objective on shares of Universal Display from $150.00 to $130.00 and set a “neutral” rating for the company in a research note on Tuesday, January 27th. Needham & Company LLC reiterated a “buy” rating and set a $150.00 price target on shares of Universal Display in a report on Monday, December 22nd. Wall Street Zen raised Universal Display from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Universal Display in a report on Wednesday, December 24th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $171.20.

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.