Vanguard Group Inc. Sells 171,708 Shares of Universal Display Corporation (NASDAQ:OLED)

Vanguard Group Inc. reduced its position in Universal Display Corporation (NASDAQ:OLED) by 3.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,612,391 shares of the semiconductor company’s stock after selling 171,708 shares during the period. Vanguard Group Inc. owned 9.70% of Universal Display worth $643,336,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of OLED. Orion Capital Management LLC bought a new stake in shares of Universal Display in the 4th quarter valued at about $29,000. Golden State Wealth Management LLC boosted its stake in Universal Display by 4,700.0% in the 1st quarter. Golden State Wealth Management LLC now owns 240 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 235 shares in the last quarter. Global X Japan Co. Ltd. acquired a new stake in Universal Display in the 1st quarter worth approximately $49,000. Transce3nd LLC acquired a new stake in Universal Display in the 4th quarter worth approximately $54,000. Finally, HM Payson & Co. boosted its stake in Universal Display by 235.4% in the 1st quarter. HM Payson & Co. now owns 436 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 306 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Wall Street Zen upgraded shares of 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 investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.43.

Universal Display Trading Up 3.3%

Shares of NASDAQ OLED opened at $145.14 on Thursday. Universal Display Corporation has a 12 month low of $103.70 and a 12 month high of $215.90. The company has a 50 day simple moving average of $151.50 and a two-hundred day simple moving average of $144.66. The stock has a market cap of $6.90 billion, a price-to-earnings ratio of 28.35, a PEG ratio of 1.50 and a beta of 1.47.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, July 31st. The semiconductor company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.18 by $0.23. The business had revenue of $171.79 million during the quarter, compared to analysts’ expectations of $161.58 million. Universal Display had a net margin of 36.95% and a return on equity of 15.82%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.10 EPS. Analysts forecast that Universal Display Corporation will post 4.71 EPS for the current year.

Universal Display Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, September 16th. 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.