21,713 Shares in Universal Display Corporation $OLED Acquired by Rice Hall James & Associates LLC

by · The Markets Daily

Rice Hall James & Associates LLC acquired a new position in shares of Universal Display Corporation (NASDAQ:OLED – Free Report) during the 1st quarter, HoldingsChannel.com reports. The firm acquired 21,713 shares of the semiconductor company’s stock, valued at approximately $1,990,000.

A number of other hedge funds have also recently bought and sold shares of the company. Focus Partners Wealth boosted its holdings in Universal Display by 6.4% in the first quarter. Focus Partners Wealth now owns 3,680 shares of the semiconductor company’s stock valued at $513,000 after acquiring an additional 221 shares during the last quarter. American Century Companies Inc. lifted its position in Universal Display by 2.3% during the 2nd quarter. American Century Companies Inc. now owns 12,766 shares of the semiconductor company’s stock valued at $1,972,000 after purchasing an additional 285 shares during the period. Invesco Ltd. lifted its position in Universal Display by 1.8% during the 2nd quarter. Invesco Ltd. now owns 112,982 shares of the semiconductor company’s stock valued at $17,451,000 after purchasing an additional 2,040 shares during the period. Marshall Wace LLP bought a new position in shares of Universal Display in the 2nd quarter valued at about $2,220,000. Finally, Cresset Asset Management LLC boosted its stake in shares of Universal Display by 64.2% in the 2nd quarter. Cresset Asset Management LLC now owns 2,512 shares of the semiconductor company’s stock valued at $388,000 after purchasing an additional 982 shares during the last quarter. 78.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

OLED has been the subject of several analyst reports. Citigroup lowered their price target on shares of Universal Display from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, May 4th. Zacks Research cut shares of Universal Display from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 21st. Oppenheimer lowered their target price on shares of Universal Display from $160.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Needham & Company LLC dropped their target price on shares of Universal Display from $145.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Universal Display in a research note on Thursday, June 18th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Universal Display has a consensus rating of “Hold” and an average target price of $130.60.

Check Out Our Latest Stock Report on OLED

Universal Display Stock Performance

Universal Display stock opened at $79.27 on Monday. The firm has a market capitalization of $3.71 billion, a P/E ratio of 17.69 and a beta of 1.54. The business has a 50-day moving average of $86.42 and a 200-day moving average of $98.50. Universal Display Corporation has a 1 year low of $77.15 and a 1 year high of $153.38.

Universal Display (NASDAQ:OLED – Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The semiconductor company reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.37). The firm had revenue of $142.21 million during the quarter, compared to analyst estimates of $161.23 million. Universal Display had a net margin of 34.08% and a return on equity of 12.34%. The business’s revenue was down 14.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.35 earnings per share. Research analysts anticipate that Universal Display Corporation will post 4.23 EPS for the current fiscal year.

Universal Display Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Tuesday, June 16th. Universal Display’s dividend payout ratio is 44.64%.

Universal Display Profile

(Free Report)

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.

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