PNC Financial Services Group Inc. Sells 857 Shares of Universal Display Corporation (NASDAQ:OLED)

PNC Financial Services Group Inc. reduced its position in Universal Display Corporation (NASDAQ:OLED) by 10.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,100 shares of the semiconductor company’s stock after selling 857 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Universal Display were worth $990,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Universal Display by 2.8% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,536,513 shares of the semiconductor company’s stock valued at $370,838,000 after acquiring an additional 69,043 shares in the last quarter. Greenhouse Funds LLLP raised its holdings in shares of Universal Display by 11.2% in the fourth quarter. Greenhouse Funds LLLP now owns 583,603 shares of the semiconductor company’s stock valued at $85,323,000 after acquiring an additional 58,775 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Universal Display by 41.5% in the fourth quarter. Janus Henderson Group PLC now owns 551,673 shares of the semiconductor company’s stock valued at $80,674,000 after acquiring an additional 161,782 shares in the last quarter. Brown Advisory Inc. bought a new stake in shares of Universal Display in the first quarter valued at about $72,327,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Universal Display by 11.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 499,089 shares of the semiconductor company’s stock valued at $72,971,000 after acquiring an additional 53,146 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Wall Street Zen upgraded Universal Display from a “sell” rating to a “hold” rating in a research note on Friday, May 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $170.00 target price on shares of Universal Display in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $190.43.

Universal Display Price Performance

OLED opened at $135.82 on Tuesday. Universal Display Corporation has a 1 year low of $103.70 and a 1 year high of $215.90. The firm has a market capitalization of $6.46 billion, a PE ratio of 26.53, a price-to-earnings-growth ratio of 1.47 and a beta of 1.47. The business’s 50-day moving average is $151.80 and its two-hundred day moving average is $144.68.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings results on Thursday, July 31st. The semiconductor company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.23. Universal Display had a return on equity of 15.82% and a net margin of 36.95%. The business had revenue of $171.79 million for the quarter, compared to analyst estimates of $161.58 million. During the same quarter in the previous year, the firm earned $1.10 earnings per share. The company’s revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts expect that Universal Display Corporation will post 4.71 EPS for the current year.

Universal Display Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.45 per share. The ex-dividend date is Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.3%. Universal Display’s payout ratio is presently 35.16%.

About Universal Display

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.