UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Position in Universal Display Corporation $OLED

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in Universal Display Corporation (NASDAQ:OLED) by 6.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 94,707 shares of the semiconductor company’s stock after selling 6,913 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Universal Display were worth $8,201,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. XXEC Inc. acquired a new position in shares of Universal Display during the second quarter worth $2,508,286,000. BlackRock Inc. acquired a new stake in Universal Display in the second quarter valued at $373,931,000. Primecap Management Co. CA purchased a new stake in Universal Display during the 2nd quarter worth about $190,136,000. State Street Corp lifted its holdings in Universal Display by 4.3% during the 4th quarter. State Street Corp now owns 1,694,779 shares of the semiconductor company’s stock worth $197,916,000 after buying an additional 69,163 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Universal Display by 25.0% during the 4th quarter. Geode Capital Management LLC now owns 1,109,077 shares of the semiconductor company’s stock worth $129,537,000 after acquiring an additional 222,108 shares in the last quarter. 78.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Universal Display Price Performance

NASDAQ OLED opened at $82.33 on Tuesday. Universal Display Corporation has a 1 year low of $76.42 and a 1 year high of $153.38. The company has a market capitalization of $3.78 billion, a PE ratio of 19.93 and a beta of 1.56. The company has a fifty day moving average of $83.50 and a two-hundred day moving average of $90.72.

Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, July 30th. The semiconductor company reported $1.06 EPS for the quarter, topping 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 business had revenue of $152.16 million for the quarter, compared to analysts’ expectations of $157.54 million. During the same quarter in the previous year, the firm earned $1.41 earnings per share. The business’s revenue was down 11.4% compared to the same quarter last year. On average, research analysts expect that Universal Display Corporation will post 4.17 earnings per share for the current year.

Universal Display Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.00 annualized dividend and a yield of 2.4%. Universal Display’s payout ratio is 48.43%.

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.