Legal & General Group Plc Sells 9,145 Shares of Universal Display Corporation $OLED

Legal & General Group Plc decreased its holdings in Universal Display Corporation (NASDAQ:OLED) by 11.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 67,629 shares of the semiconductor company’s stock after selling 9,145 shares during the quarter. Legal & General Group Plc’s holdings in Universal Display were worth $7,898,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. JPMorgan Chase & Co. increased its stake in Universal Display by 3.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 472,363 shares of the semiconductor company’s stock worth $67,846,000 after acquiring an additional 14,356 shares during the last quarter. Peregrine Investment Management Inc. increased its stake in Universal Display by 24.7% in the 3rd quarter. Peregrine Investment Management Inc. now owns 50,560 shares of the semiconductor company’s stock worth $7,262,000 after acquiring an additional 10,000 shares during the last quarter. Aquatic Capital Management LLC increased its stake in Universal Display by 891.6% in the 3rd quarter. Aquatic Capital Management LLC now owns 28,588 shares of the semiconductor company’s stock worth $4,106,000 after acquiring an additional 25,705 shares during the last quarter. AI Squared Management Ltd bought a new position in Universal Display in the 3rd quarter worth about $5,515,000. Finally, Handelsbanken Fonder AB increased its position in shares of Universal Display by 348.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 54,704 shares of the semiconductor company’s stock valued at $7,857,000 after purchasing an additional 42,504 shares during the last quarter. Institutional investors own 78.19% of the company’s stock.

Universal Display Price Performance

Shares of OLED stock opened at $86.11 on Friday. The stock has a market capitalization of $4.03 billion, a PE ratio of 19.22 and a beta of 1.54. Universal Display Corporation has a 1-year low of $83.64 and a 1-year high of $163.21. The business has a 50-day moving average of $93.31 and a 200 day moving average of $106.93.

Universal Display (NASDAQ:OLED) last issued its earnings results on Thursday, April 30th. The semiconductor company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.37). The company had revenue of $142.21 million for the quarter, compared to analysts’ expectations of $161.23 million. Universal Display had a net margin of 34.08% and a return on equity of 12.34%. The company’s revenue was down 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.35 earnings per share. Analysts anticipate that Universal Display Corporation will post 4.23 EPS for the current year.

Universal Display Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 2.3%. Universal Display’s dividend payout ratio is currently 44.64%.

Wall Street Analysts Forecast Growth

OLED has been the topic of several recent research reports. Roth Mkm set a $168.00 price objective on Universal Display in a research report on Friday, May 1st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Universal Display in a research report on Monday, March 23rd. Citigroup reduced their price objective on Universal Display from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Wall Street Zen upgraded Universal Display from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. Finally, Oppenheimer reduced their price objective on Universal Display from $160.00 to $130.00 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Universal Display has a consensus rating of “Hold” and a consensus target price of $130.60.

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.