Legal & General Group Plc Takes $5.15 Million Position in Universal Display Corporation $OLED

Legal & General Group Plc acquired a new position in Universal Display Corporation (NASDAQ:OLED) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 59,445 shares of the semiconductor company’s stock, valued at approximately $5,147,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC bought a new stake in Universal Display during the third quarter worth approximately $33,000. Canada Pension Plan Investment Board bought a new position in shares of Universal Display in the second quarter valued at $62,000. RHL Group LLC acquired a new stake in shares of Universal Display during the 4th quarter valued at $60,000. UMB Bank n.a. lifted its position in shares of Universal Display by 28.3% during the 4th quarter. UMB Bank n.a. now owns 549 shares of the semiconductor company’s stock valued at $64,000 after acquiring an additional 121 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new stake in shares of Universal Display during the 4th quarter worth $75,000. 78.19% of the stock is owned by institutional investors and hedge funds.

Universal Display Stock Performance

Shares of OLED opened at $82.64 on Friday. The company’s 50 day moving average price is $83.67 and its 200 day moving average price is $91.27. Universal Display Corporation has a 52 week low of $76.42 and a 52 week high of $153.38. The company has a market capitalization of $3.80 billion, a PE ratio of 20.01 and a beta of 1.56.

Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.03. The company had revenue of $152.16 million during the quarter, compared to the consensus estimate of $157.54 million. Universal Display had a net margin of 32.24% and a return on equity of 11.35%. The company’s revenue was down 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.41 EPS. On average, equities analysts forecast that Universal Display Corporation will post 4.17 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Wednesday, September 16th. Universal Display’s dividend payout ratio (DPR) is currently 48.43%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. BTIG Research downgraded Universal Display to a “neutral” rating in a report on Friday, July 31st. Citigroup decreased their target price on shares of Universal Display from $100.00 to $85.00 and set a “neutral” rating for the company in a report on Monday, August 3rd. Oppenheimer restated an “outperform” rating and set a $120.00 price target (down from $130.00) on shares of Universal Display in a report on Friday, July 31st. Weiss Ratings lowered shares of Universal Display from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Finally, Zacks Research upgraded shares of Universal Display from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 13th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $116.33.

Universal Display Company 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.