1,486 Shares in Universal Display Co. (NASDAQ:OLED) Purchased by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC acquired a new position in Universal Display Co. (NASDAQ:OLED) in the 2nd quarter, HoldingsChannel reports. The fund acquired 1,486 shares of the semiconductor company’s stock, valued at approximately $312,000.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Universal Display by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 4,567,374 shares of the semiconductor company’s stock valued at $769,374,000 after buying an additional 50,233 shares in the last quarter. Norges Bank purchased a new position in Universal Display during the 4th quarter valued at about $101,088,000. First Trust Advisors LP grew its holdings in Universal Display by 20.7% during the 4th quarter. First Trust Advisors LP now owns 449,628 shares of the semiconductor company’s stock valued at $85,996,000 after buying an additional 76,967 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Universal Display by 66.6% during the 1st quarter. Janus Henderson Group PLC now owns 434,029 shares of the semiconductor company’s stock valued at $73,099,000 after buying an additional 173,496 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in Universal Display by 33.5% during the 1st quarter. Van ECK Associates Corp now owns 360,714 shares of the semiconductor company’s stock valued at $60,762,000 after buying an additional 90,530 shares in the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.

Universal Display Trading Up 2.0 %

OLED stock traded up $3.79 during midday trading on Wednesday, hitting $193.00. The company had a trading volume of 183,501 shares, compared to its average volume of 332,467. Universal Display Co. has a 52 week low of $133.67 and a 52 week high of $237.00. The stock’s 50 day moving average price is $206.23 and its 200 day moving average price is $182.87. The stock has a market cap of $9.16 billion, a price-to-earnings ratio of 41.96, a PEG ratio of 2.03 and a beta of 1.42.

Universal Display (NASDAQ:OLED) last announced its earnings results on Thursday, August 1st. The semiconductor company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.04). The business had revenue of $158.50 million for the quarter, compared to the consensus estimate of $159.46 million. Universal Display had a net margin of 35.74% and a return on equity of 15.25%. Universal Display’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.04 EPS. Analysts predict that Universal Display Co. will post 4.79 earnings per share for the current year.

Universal Display Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.83%. Universal Display’s dividend payout ratio is presently 34.78%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on OLED. The Goldman Sachs Group lifted their target price on Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a report on Thursday, July 18th. TD Cowen boosted their price objective on Universal Display from $210.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Oppenheimer boosted their price objective on Universal Display from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, July 3rd. Needham & Company LLC boosted their price objective on Universal Display from $198.00 to $242.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Finally, Susquehanna boosted their price objective on Universal Display from $170.00 to $175.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Universal Display presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.88.

Universal Display Company Profile

Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.