Wealthquest Corp acquired a new stake in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 13,296 shares of the semiconductor company's stock, valued at approximately $1,855,000. Universal Display makes up 0.2% of Wealthquest Corp's investment portfolio, making the stock its 27th biggest position.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. boosted its holdings in Universal Display by 4.6% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 7,187 shares of the semiconductor company's stock valued at $1,002,000 after purchasing an additional 314 shares in the last quarter. Global X Japan Co. Ltd. acquired a new position in shares of Universal Display in the 1st quarter worth approximately $49,000. State of Alaska Department of Revenue boosted its holdings in shares of Universal Display by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 5,172 shares of the semiconductor company's stock worth $721,000 after acquiring an additional 135 shares in the last quarter. Cardinal Capital Management boosted its holdings in shares of Universal Display by 5.8% in the 1st quarter. Cardinal Capital Management now owns 10,120 shares of the semiconductor company's stock worth $1,412,000 after acquiring an additional 558 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of Universal Display by 56.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 58,474 shares of the semiconductor company's stock worth $8,156,000 after acquiring an additional 21,008 shares in the last quarter. 78.19% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
OLED has been the topic of several recent analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $170.00 target price on shares of Universal Display in a report on Friday, May 2nd. Wall Street Zen raised Universal Display from a "sell" rating to a "hold" rating in a report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $190.43.
Get Our Latest Stock Report on Universal Display
Universal Display Stock Down 0.1%
OLED stock traded down $0.13 during trading on Friday, hitting $156.27. The company had a trading volume of 1,268,318 shares, compared to its average volume of 609,371. The firm has a 50-day moving average price of $145.74 and a 200-day moving average price of $144.99. Universal Display Corporation has a 12 month low of $103.70 and a 12 month high of $237.00. The stock has a market cap of $7.43 billion, a price-to-earnings ratio of 32.49, a PEG ratio of 1.69 and a beta of 1.50.
Universal Display (NASDAQ:OLED - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The semiconductor company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.28. Universal Display had a net margin of 35.40% and a return on equity of 15.35%. The firm had revenue of $166.28 million during the quarter, compared to analysts' expectations of $154.76 million. During the same quarter in the previous year, the company posted $1.19 EPS. Universal Display's revenue was up .6% on a year-over-year basis. Equities analysts expect that Universal Display Corporation will post 4.71 EPS for the current year.
Universal Display Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Monday, June 16th. Universal Display's payout ratio is 37.42%.
About Universal Display
(
Free Report)
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.
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