Vanguard Group Inc. Cuts Position in Universal Display Corporation $OLED

Vanguard Group Inc. decreased its position in Universal Display Corporation (NASDAQ:OLED) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,047,581 shares of the semiconductor company’s stock after selling 21,526 shares during the quarter. Vanguard Group Inc. owned 0.11% of Universal Display worth $589,457,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OLED. Smartleaf Asset Management LLC increased its position in shares of Universal Display by 309.8% during the third quarter. Smartleaf Asset Management LLC now owns 209 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 158 shares during the period. Measured Wealth Private Client Group LLC purchased a new stake in shares of Universal Display during the third quarter worth $33,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Universal Display during the third quarter worth $37,000. Farther Finance Advisors LLC increased its position in shares of Universal Display by 27.2% during the third quarter. Farther Finance Advisors LLC now owns 351 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 75 shares during the period. Finally, Jones Financial Companies Lllp increased its position in shares of Universal Display by 104.2% during the third quarter. Jones Financial Companies Lllp now owns 388 shares of the semiconductor company’s stock worth $58,000 after acquiring an additional 198 shares during the period. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Trading Up 0.2%

Shares of OLED stock opened at $96.56 on Tuesday. The firm has a fifty day moving average price of $96.82 and a 200 day moving average price of $114.76. The company has a market cap of $4.51 billion, a P/E ratio of 21.55, a PEG ratio of 7.97 and a beta of 1.54. Universal Display Corporation has a 12 month low of $83.64 and a 12 month high of $163.21.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Thursday, April 30th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.37). Universal Display had a net margin of 34.08% and a return on equity of 12.34%. The company had revenue of $142.21 million during the quarter, compared to analyst estimates of $161.23 million. During the same quarter in the prior year, the company earned $1.35 EPS. The business’s revenue was down 14.5% on a year-over-year basis. On average, equities analysts forecast that Universal Display Corporation will post 4.73 EPS for the current year.

Universal Display Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.1%. The ex-dividend date is Tuesday, June 16th. Universal Display’s dividend payout ratio is currently 44.64%.

Analyst Upgrades and Downgrades

OLED has been the topic of a number of recent research reports. The Goldman Sachs Group set a $135.00 price objective on Universal Display in a research report on Tuesday, April 21st. Wall Street Zen raised Universal Display from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. Zacks Research lowered Universal Display from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 21st. Roth Mkm set a $168.00 price objective on Universal Display in a research report on Friday. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Universal Display in a research note on Monday, March 23rd. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $130.60.

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.