Universal Display Corporation $OLED Stock: ProShare Advisors LLC Boosts Position

ProShare Advisors LLC raised its holdings in Universal Display Corporation (NASDAQ:OLED) by 16.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 90,421 shares of the semiconductor company’s stock after acquiring an additional 13,015 shares during the period. ProShare Advisors LLC’s holdings in Universal Display were worth $6,966,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. XXEC Inc. purchased a new stake in shares of Universal Display during the 2nd quarter valued at approximately $2,508,286,000. BlackRock Inc. purchased a new position in Universal Display in the 2nd quarter valued at approximately $373,931,000. Primecap Management Co. CA purchased a new position in Universal Display in the 2nd quarter valued at approximately $190,136,000. First Trust Advisors LP raised its holdings in Universal Display by 21.1% during the 1st quarter. First Trust Advisors LP now owns 976,423 shares of the semiconductor company’s stock valued at $89,499,000 after acquiring an additional 169,969 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Universal Display by 4.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 757,166 shares of the semiconductor company’s stock valued at $69,398,000 after acquiring an additional 30,661 shares during the period. Institutional investors own 78.19% of the company’s stock.

Wall Street Analysts Forecast Growth

OLED has been the topic of several recent research reports. Weiss Ratings restated a “sell (d+)” rating on shares of Universal Display in a research report on Monday, October 26th. Citigroup lowered Universal Display from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $85.00 to $71.00 in a research note on Thursday, October 8th. BTIG Research cut Universal Display to a “neutral” rating in a report on Friday, July 31st. Zacks Research upgraded Universal Display from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 13th. Finally, Oppenheimer reduced their target price on Universal Display from $120.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, October 29th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $114.00.

Universal Display Price Performance

OLED opened at $89.57 on Thursday. The company has a fifty day moving average price of $80.93 and a 200-day moving average price of $91.73. The firm has a market capitalization of $4.03 billion, a P/E ratio of 18.17 and a beta of 1.51. Universal Display Corporation has a one year low of $70.77 and a one year high of $147.68.

Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Wednesday, October 28th. The semiconductor company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.10. Universal Display had a net margin of 36.74% and a return on equity of 12.20%. The firm had revenue of $160.43 million for the quarter, compared to analysts’ expectations of $162.72 million. During the same quarter in the prior year, the firm posted $0.92 earnings per share. The business’s quarterly revenue was up 14.9% on a year-over-year basis. On average, analysts expect that Universal Display Corporation will post 4.43 earnings per share for the current year.

Universal Display Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Thursday, December 17th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.2%. The ex-dividend date is Thursday, December 17th. Universal Display’s payout ratio is presently 40.57%.

About Universal Display

Universal Display Corporation (NASDAQ: OLED) develops and commercializes technologies and materials used in organic light-emitting diode (OLED) displays and lighting. The company’s portfolio includes phosphorescent OLED (PHOLED) materials, which are designed to improve display efficiency, along with OLED research, development and manufacturing technologies.

Universal Display supplies OLED emitter materials and related products to display manufacturers and licenses its intellectual property and technology.