The Manufacturers Life Insurance Company Purchases New Position in Universal Display Corporation $OLED

The Manufacturers Life Insurance Company acquired a new position in Universal Display Corporation (NASDAQ:OLED) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 30,309 shares of the semiconductor company’s stock, valued at approximately $2,624,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Lido Advisors LLC lifted its holdings in shares of Universal Display by 1.7% in the 3rd 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 period. Certuity LLC increased its stake in shares of Universal Display by 4.3% during the third quarter. Certuity LLC now owns 2,556 shares of the semiconductor company’s stock valued at $367,000 after buying an additional 105 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Universal Display by 5.7% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,999 shares of the semiconductor company’s stock valued at $287,000 after acquiring an additional 108 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Universal Display by 0.8% in the third quarter. Public Employees Retirement System of Ohio now owns 13,979 shares of the semiconductor company’s stock valued at $2,008,000 after acquiring an additional 113 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in Universal Display by 28.3% in the fourth quarter. UMB Bank n.a. now owns 549 shares of the semiconductor company’s stock worth $64,000 after acquiring an additional 121 shares during the period. 78.19% of the stock is owned by institutional investors.

Universal Display Price Performance

Shares of NASDAQ OLED opened at $83.56 on Thursday. The stock has a market capitalization of $3.84 billion, a P/E ratio of 20.23 and a beta of 1.56. Universal Display Corporation has a 1-year low of $76.42 and a 1-year high of $153.38. The business has a fifty day moving average price of $83.77 and a 200 day moving average price of $91.57.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.03. Universal Display had a return on equity of 11.35% and a net margin of 32.24%.The company had revenue of $152.16 million for the quarter, compared to the consensus estimate of $157.54 million. During the same quarter last year, the company earned $1.41 earnings per share. The firm’s revenue for the quarter was down 11.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Universal Display Corporation will post 4.17 earnings per share for the current fiscal year.

Universal Display Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Wednesday, September 16th. Universal Display’s dividend payout ratio (DPR) is currently 48.43%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Needham & Company LLC dropped their target price on shares of Universal Display from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Weiss Ratings lowered shares of Universal Display from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 28th. BTIG Research cut shares of Universal Display to a “neutral” rating in a research report on Friday, July 31st. Zacks Research upgraded shares of Universal Display from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 13th. Finally, Susquehanna cut their price objective on shares of Universal Display from $110.00 to $90.00 and set a “neutral” rating on the stock in a report on Friday, July 31st. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $116.33.

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.