Universal Display Corporation $OLED Shares Sold by Griffin Asset Management Inc.

Griffin Asset Management Inc. trimmed its holdings in Universal Display Corporation (NASDAQ:OLED) by 5.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 205,877 shares of the semiconductor company’s stock after selling 12,408 shares during the quarter. Universal Display accounts for approximately 2.1% of Griffin Asset Management Inc.’s investment portfolio, making the stock its 6th biggest holding. Griffin Asset Management Inc.’s holdings in Universal Display were worth $18,871,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OLED. State Street Corp lifted its holdings in shares of Universal Display by 4.3% in the 4th quarter. State Street Corp now owns 1,694,779 shares of the semiconductor company’s stock valued at $197,916,000 after buying an additional 69,163 shares during the period. Geode Capital Management LLC boosted its stake in shares of Universal Display by 25.0% in the fourth quarter. Geode Capital Management LLC now owns 1,109,077 shares of the semiconductor company’s stock worth $129,537,000 after buying an additional 222,108 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Universal Display by 86.4% during the fourth quarter. JPMorgan Chase & Co. now owns 880,678 shares of the semiconductor company’s stock worth $102,846,000 after acquiring an additional 408,315 shares during the period. First Trust Advisors LP grew its holdings in Universal Display by 17.4% during the fourth quarter. First Trust Advisors LP now owns 806,454 shares of the semiconductor company’s stock worth $94,178,000 after acquiring an additional 119,504 shares during the period. Finally, Norges Bank purchased a new position in Universal Display during the fourth quarter valued at approximately $92,756,000. 78.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on OLED. Weiss Ratings reissued a “hold (c-)” rating on shares of Universal Display in a report on Thursday, June 18th. Needham & Company LLC dropped their price objective on shares of Universal Display from $145.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Zacks Research lowered shares of Universal Display from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. Roth Capital set a $168.00 target price on shares of Universal Display in a research note on Friday, May 1st. Finally, Oppenheimer lowered their price target on shares of Universal Display from $160.00 to $130.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $130.60.

Universal Display Stock Performance

NASDAQ OLED opened at $80.15 on Friday. The business has a fifty day moving average price of $89.05 and a 200 day moving average price of $101.53. The company has a market cap of $3.75 billion, a P/E ratio of 17.89 and a beta of 1.54. Universal Display Corporation has a one year low of $77.15 and a one year high of $159.27.

Universal Display (NASDAQ:OLED) last announced its earnings results on Thursday, April 30th. The semiconductor company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.37). Universal Display had a return on equity of 12.34% and a net margin of 34.08%.The business had revenue of $142.21 million for the quarter, compared to analyst estimates of $161.23 million. During the same period last year, the firm earned $1.35 EPS. The company’s revenue for the quarter was down 14.5% compared to the same quarter last year. As a group, sell-side analysts predict that Universal Display Corporation will post 4.23 EPS for the current fiscal year.

Universal Display Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.5%. Universal Display’s payout ratio is presently 44.64%.

About Universal Display

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.