Universal Display Corporation $OLED Shares Bought by First Trust Advisors LP

First Trust Advisors LP grew its stake in shares of Universal Display Corporation (NASDAQ:OLED) by 21.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 976,423 shares of the semiconductor company’s stock after purchasing an additional 169,969 shares during the quarter. First Trust Advisors LP’s holdings in Universal Display were worth $89,499,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. 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 worth $197,916,000 after purchasing an additional 69,163 shares during the last quarter. Geode Capital Management LLC grew its stake in Universal Display by 25.0% during the 4th 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 stake in Universal Display by 86.4% during the 4th quarter. JPMorgan Chase & Co. now owns 880,678 shares of the semiconductor company’s stock worth $102,846,000 after buying an additional 408,315 shares during the last quarter. Norges Bank acquired a new stake in Universal Display in the fourth quarter worth $92,756,000. Finally, Dimensional Fund Advisors LP increased its position in Universal Display by 4.2% in the first quarter. Dimensional Fund Advisors LP now owns 757,166 shares of the semiconductor company’s stock worth $69,398,000 after buying an additional 30,661 shares during the period. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OLED has been the subject of several recent research reports. Weiss Ratings restated a “hold (c-)” rating on shares of Universal Display in a research report on Thursday, June 18th. Zacks Research downgraded shares of Universal Display from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 21st. Oppenheimer reduced their target price on shares of Universal Display from $160.00 to $130.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. The Goldman Sachs Group set a $135.00 target price on shares of Universal Display in a research report on Tuesday, April 21st. Finally, Needham & Company LLC dropped their price target 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. Three 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $130.60.

Universal Display Stock Performance

Shares of OLED stock opened at $79.27 on Friday. Universal Display Corporation has a 1 year low of $77.15 and a 1 year high of $153.38. The firm has a market capitalization of $3.71 billion, a PE ratio of 17.69 and a beta of 1.54. The stock has a fifty day moving average of $86.42 and a two-hundred day moving average of $98.67.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings results on Thursday, April 30th. The semiconductor company reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.37). Universal Display had a net margin of 34.08% and a return on equity of 12.34%. 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 business posted $1.35 earnings per share. Universal Display’s revenue for the quarter was down 14.5% on a year-over-year basis. Equities research analysts predict that Universal Display Corporation will post 4.23 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 2.5%. Universal Display’s dividend payout ratio (DPR) 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.