23,469 Shares in Universal Display Corporation $OLED Bought by NewEdge Wealth LLC

Key Points

• NewEdge Wealth LLC initiated a position in Universal Display, purchasing 23,469 shares valued at approximately $2.03 million. Institutional investors collectively own 78.19% of the company.
• Universal Display exceeded quarterly EPS expectations, reporting $1.06 versus the $1.03 consensus, but revenue fell 11.4% year over year to $152.16 million and missed estimates.
• The company declared a quarterly dividend of $0.50 per share, equivalent to $2.00 annually and a 2.3% yield. Analysts maintain a consensus “Hold” rating, with an average price target of $116.33.

NewEdge Wealth LLC bought a new stake in Universal Display Corporation (NASDAQ:OLED - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 23,469 shares of the semiconductor company's stock, valued at approximately $2,032,000. NewEdge Wealth LLC owned 0.05% of Universal Display as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC purchased a new position in Universal Display during the 3rd quarter worth $33,000. RHL Group LLC acquired a new stake in shares of Universal Display during the fourth quarter worth about $60,000. Canada Pension Plan Investment Board purchased a new position in shares of Universal Display during the second quarter worth about $62,000. UMB Bank n.a. grew its holdings in shares of Universal Display by 28.3% during the fourth quarter. UMB Bank n.a. now owns 549 shares of the semiconductor company's stock worth $64,000 after buying an additional 121 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new position in Universal Display in the 4th quarter valued at about $75,000. Hedge funds and other institutional investors own 78.19% of the company's stock.

Universal Display Trading Down 0.0%

Universal Display stock opened at $86.50 on Friday. The stock has a 50-day moving average price of $84.51 and a 200 day moving average price of $93.95. The stock has a market cap of $3.98 billion, a PE ratio of 20.94 and a beta of 1.54. Universal Display Corporation has a 52 week low of $76.42 and a 52 week high of $153.38.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.03 by $0.03. The firm had revenue of $152.16 million for the quarter, compared to analyst estimates of $157.54 million. Universal Display had a return on equity of 11.35% and a net margin of 32.24%.The firm's quarterly revenue was down 11.4% on a year-over-year basis. During the same period last year, the company earned $1.41 EPS. On average, equities analysts predict that Universal Display Corporation will post 4.18 EPS for the current year.

Universal Display Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 2.3%. Universal Display's dividend payout ratio is presently 48.43%.

Wall Street Analysts Forecast Growth

OLED has been the subject of a number of analyst reports. Needham & Company LLC cut their price objective on shares of Universal Display from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Friday, July 31st. Zacks Research upgraded shares of Universal Display from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 13th. Susquehanna cut their price target on shares of Universal Display from $110.00 to $90.00 and set a "neutral" rating for the company in a report on Friday, July 31st. Oppenheimer restated an "outperform" rating and issued a $120.00 price objective (down from $130.00) on shares of Universal Display in a research report on Friday, July 31st. Finally, Citigroup lowered their price objective on Universal Display from $100.00 to $85.00 and set a "neutral" rating on the stock in a report on Monday, August 3rd. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $116.33.

Universal Display Profile

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.

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