IFP Advisors Inc boosted its holdings in shares of Universal Display Co. (NASDAQ:OLED) by 13.7% during the first quarter, Holdings Channel.com reports. The institutional investor owned 697 shares of the semiconductor company’s stock after buying an additional 84 shares during the period. IFP Advisors Inc’s holdings in Universal Display were worth $165,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in Universal Display during the 4th quarter worth $190,214,000. First Trust Advisors LP grew its position in Universal Display by 201.7% during the 4th quarter. First Trust Advisors LP now owns 364,167 shares of the semiconductor company’s stock worth $83,686,000 after purchasing an additional 243,448 shares during the last quarter. FMR LLC grew its position in Universal Display by 156,745.0% during the 1st quarter. FMR LLC now owns 202,330 shares of the semiconductor company’s stock worth $30,926,000 after purchasing an additional 202,201 shares during the last quarter. Handelsbanken Fonder AB grew its position in Universal Display by 96.1% during the 4th quarter. Handelsbanken Fonder AB now owns 187,152 shares of the semiconductor company’s stock worth $43,008,000 after purchasing an additional 91,707 shares during the last quarter. Finally, Morgan Stanley grew its position in Universal Display by 63.3% during the 4th quarter. Morgan Stanley now owns 194,660 shares of the semiconductor company’s stock worth $44,733,000 after purchasing an additional 75,445 shares during the last quarter. Institutional investors own 70.78% of the company’s stock.
Several analysts have recently weighed in on OLED shares. Susquehanna Bancshares reaffirmed a “sell” rating on shares of Universal Display in a report on Sunday, April 4th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Universal Display from $220.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, February 16th. Needham & Company LLC raised their price objective on shares of Universal Display from $240.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, February 25th. Citigroup lifted their target price on shares of Universal Display from $204.00 to $260.00 in a research report on Monday, January 25th. Finally, Susquehanna restated a “sell” rating on shares of Universal Display in a research report on Sunday, April 4th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. Universal Display presently has a consensus rating of “Hold” and an average price target of $251.13.
Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Thursday, May 6th. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.41. The company had revenue of $134.00 million during the quarter, compared to the consensus estimate of $119.63 million. Universal Display had a net margin of 27.22% and a return on equity of 13.21%. Universal Display’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.80 earnings per share. As a group, analysts anticipate that Universal Display Co. will post 2.3 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Tuesday, June 15th will be issued a $0.20 dividend. The ex-dividend date is Monday, June 14th. This represents a $0.80 annualized dividend and a yield of 0.42%. Universal Display’s dividend payout ratio is presently 24.24%.
Universal Display 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. As of February 18, 2021, it owned, exclusively licenses, or had sole rights to sublicense approximately 5,000 issued and pending patents worldwide.
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