Universal Display Corporation (NASDAQ:OLED) Position Lowered by Sargent Investment Group LLC

Sargent Investment Group LLC lessened its stake in shares of Universal Display Corporation (NASDAQ:OLED) by 1.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,352 shares of the semiconductor company’s stock after selling 1,315 shares during the quarter. Universal Display comprises about 1.5% of Sargent Investment Group LLC’s investment portfolio, making the stock its 17th biggest holding. Sargent Investment Group LLC owned 0.14% of Universal Display worth $9,255,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in OLED. Calton & Associates Inc. increased its stake in Universal Display by 297.4% in the first quarter. Calton & Associates Inc. now owns 8,166 shares of the semiconductor company’s stock valued at $1,139,000 after acquiring an additional 6,111 shares during the period. Financial Harvest LLC acquired a new position in shares of Universal Display in the 1st quarter valued at approximately $102,000. AMG National Trust Bank grew its holdings in shares of Universal Display by 2.3% during the 1st quarter. AMG National Trust Bank now owns 14,243 shares of the semiconductor company’s stock valued at $1,987,000 after purchasing an additional 314 shares during the last quarter. Segall Bryant & Hamill LLC boosted its stake in shares of Universal Display by 134.1% in the 1st quarter. Segall Bryant & Hamill LLC now owns 213,004 shares of the semiconductor company’s stock valued at $29,710,000 after purchasing an additional 121,998 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS raised its holdings in Universal Display by 23.3% during the first quarter. Kornitzer Capital Management Inc. KS now owns 105,487 shares of the semiconductor company’s stock worth $14,713,000 after buying an additional 19,955 shares during the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Universal Display from a “sell” rating to a “hold” rating in a report on Friday, May 2nd. Needham & Company LLC restated a “buy” rating and set a $170.00 price target 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $190.43.

Universal Display Stock Performance

Shares of NASDAQ OLED opened at $151.22 on Friday. The stock has a market cap of $7.19 billion, a price-to-earnings ratio of 31.44, a PEG ratio of 1.64 and a beta of 1.51. Universal Display Corporation has a 52 week low of $103.70 and a 52 week high of $234.16. The business has a 50 day simple moving average of $152.93 and a 200 day simple moving average of $145.21.

Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Thursday, May 1st. The semiconductor company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.28. Universal Display had a return on equity of 15.35% and a net margin of 35.40%. The business had revenue of $166.28 million during the quarter, compared to the consensus estimate of $154.76 million. During the same period in the previous year, the company posted $1.19 EPS. The firm’s quarterly revenue was up .6% on a year-over-year basis. On average, analysts predict that Universal Display Corporation will post 4.71 EPS for the current year.

Universal Display Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Monday, June 16th. Universal Display’s dividend payout ratio (DPR) is presently 37.42%.

Universal Display Company Profile

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.