Universal Display Corporation $OLED Shares Sold by Algert Global LLC

Key Points

• Algert Global LLC has reduced its stake in Universal Display Corporation (NASDAQ: OLED) by 28.1%, selling 9,020 shares and now holding 23,100 shares worth approximately $3.22 million.
• Universal Display reported earnings of $1.41 per share, exceeding analysts' expectations of $1.18, with revenue of $171.79 million for the quarter, an 8.4% increase year-over-year.
• The company has announced a quarterly dividend of $0.45 per share, with an annual yield of 1.3%, to be paid on September 30th to shareholders of record on September 16th.

Algert Global LLC reduced its position in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) by 28.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,100 shares of the semiconductor company's stock after selling 9,020 shares during the period. Algert Global LLC's holdings in Universal Display were worth $3,222,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of OLED. Brown Advisory Inc. purchased a new position in shares of Universal Display during the first quarter worth $72,327,000. FengHe Fund Management Pte. Ltd. purchased a new position in Universal Display in the first quarter valued at $41,147,000. Point72 Asset Management L.P. purchased a new position in Universal Display in the fourth quarter valued at $38,981,000. Raymond James Financial Inc. boosted its holdings in Universal Display by 64.4% in the first quarter. Raymond James Financial Inc. now owns 466,612 shares of the semiconductor company's stock valued at $65,083,000 after purchasing an additional 182,730 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in Universal Display by 41.5% in the fourth quarter. Janus Henderson Group PLC now owns 551,673 shares of the semiconductor company's stock valued at $80,674,000 after purchasing an additional 161,782 shares during the period. 78.19% of the stock is currently owned by hedge funds and other institutional investors.

Universal Display Stock Down 1.3%

Universal Display stock traded down $1.94 during midday trading on Monday, reaching $142.93. The company's stock had a trading volume of 322,503 shares, compared to its average volume of 554,726. Universal Display Corporation has a fifty-two week low of $103.70 and a fifty-two week high of $215.90. The company has a market cap of $6.79 billion, a P/E ratio of 27.92, a P/E/G ratio of 4.29 and a beta of 1.47. The business has a 50-day simple moving average of $149.28 and a 200-day simple moving average of $144.39.

Universal Display (NASDAQ:OLED - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The semiconductor company reported $1.41 earnings per share for the quarter, beating analysts' consensus estimates of $1.18 by $0.23. Universal Display had a return on equity of 15.82% and a net margin of 36.95%.The company had revenue of $171.79 million for the quarter, compared to analysts' expectations of $161.58 million. During the same period last year, the firm earned $1.10 earnings per share. Universal Display's quarterly revenue was up 8.4% on a year-over-year basis. Universal Display has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Universal Display Corporation will post 4.71 earnings per share for the current year.

Universal Display Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a $0.45 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a yield of 1.3%. Universal Display's dividend payout ratio (DPR) is currently 35.16%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on OLED. Wall Street Zen upgraded Universal Display from a "sell" rating to a "hold" rating in a report on Friday, May 2nd. Zacks Research lowered Universal Display from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $170.00 target price on shares of Universal Display in a report on Friday, May 2nd. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $190.43.

About Universal Display

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.