Universal Display Corporation $OLED Shares Bought by DAVENPORT & Co LLC

DAVENPORT & Co LLC lifted its holdings in Universal Display Corporation (NASDAQ:OLED) by 58.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,169 shares of the semiconductor company’s stock after purchasing an additional 7,849 shares during the quarter. DAVENPORT & Co LLC’s holdings in Universal Display were worth $2,472,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Norges Bank acquired a new stake in Universal Display in the second quarter worth about $124,480,000. Vanguard Group Inc. increased its stake in Universal Display by 10.0% during the 3rd quarter. Vanguard Group Inc. now owns 5,069,107 shares of the semiconductor company’s stock valued at $728,076,000 after buying an additional 460,792 shares during the period. Deprince Race & Zollo Inc. acquired a new position in Universal Display during the 3rd quarter valued at about $32,962,000. Rafferty Asset Management LLC raised its position in shares of Universal Display by 63.2% during the 2nd quarter. Rafferty Asset Management LLC now owns 574,161 shares of the semiconductor company’s stock worth $88,685,000 after buying an additional 222,327 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Universal Display by 58.8% during the 2nd quarter. Bank of America Corp DE now owns 447,993 shares of the semiconductor company’s stock worth $69,197,000 after buying an additional 165,939 shares in the last quarter. 78.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on OLED. Weiss Ratings reiterated a “hold (c-)” rating on shares of Universal Display in a report on Monday, March 23rd. Wall Street Zen raised Universal Display from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Needham & Company LLC cut their target price on Universal Display from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Friday, February 20th. Roth Mkm reaffirmed a “buy” rating and set a $180.00 price target on shares of Universal Display in a research note on Friday, February 20th. Finally, Citigroup lowered their price target on Universal Display from $150.00 to $130.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 27th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $151.67.

Universal Display Trading Down 1.8%

NASDAQ:OLED opened at $91.87 on Friday. Universal Display Corporation has a twelve month low of $91.32 and a twelve month high of $163.21. The company has a 50-day moving average of $109.09 and a 200-day moving average of $122.96. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of 18.12, a price-to-earnings-growth ratio of 7.21 and a beta of 1.65.

Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, February 19th. The semiconductor company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.11. Universal Display had a net margin of 37.21% and a return on equity of 14.07%. The business had revenue of $172.93 million for the quarter, compared to the consensus estimate of $173.35 million. During the same period in the previous year, the firm earned $1.22 EPS. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, research analysts forecast that Universal Display Corporation will post 4.71 earnings per share for the current year.

Universal Display Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be issued a $0.50 dividend. This is an increase from Universal Display’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, March 17th. Universal Display’s dividend payout ratio is currently 39.45%.

Universal Display Profile

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.