Allspring Global Investments Holdings LLC Buys Shares of 1,744 Universal Display Corporation (NASDAQ:OLED)

Allspring Global Investments Holdings LLC acquired a new stake in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,744 shares of the semiconductor company's stock, valued at approximately $242,000.

A number of other hedge funds also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC raised its position in shares of Universal Display by 5.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 139,646 shares of the semiconductor company's stock valued at $19,478,000 after buying an additional 6,604 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Universal Display by 134.1% during the first quarter. GAMMA Investing LLC now owns 962 shares of the semiconductor company's stock valued at $134,000 after buying an additional 551 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Universal Display by 65.6% during the first quarter. SG Americas Securities LLC now owns 6,492 shares of the semiconductor company's stock valued at $906,000 after buying an additional 2,572 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Universal Display by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 341,019 shares of the semiconductor company's stock worth $49,857,000 after acquiring an additional 7,147 shares in the last quarter. Finally, Sterling Capital Management LLC raised its holdings in shares of Universal Display by 35.0% during the 4th quarter. Sterling Capital Management LLC now owns 1,767 shares of the semiconductor company's stock worth $258,000 after acquiring an additional 458 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors.

Universal Display Stock Performance

NASDAQ OLED traded down $0.70 on Tuesday, hitting $152.35. 124,097 shares of the stock were exchanged, compared to its average volume of 612,011. The stock has a fifty day moving average price of $152.01 and a two-hundred day moving average price of $145.04. The firm has a market capitalization of $7.24 billion, a P/E ratio of 31.76, a P/E/G ratio of 1.68 and a beta of 1.51. Universal Display Corporation has a 52-week low of $103.70 and a 52-week high of $237.00.

Universal Display (NASDAQ:OLED - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The semiconductor company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.07 by $0.28. The company had revenue of $166.28 million during the quarter, compared to analyst estimates of $154.76 million. Universal Display had a net margin of 35.40% and a return on equity of 15.35%. Universal Display's quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.19 earnings per share. Sell-side analysts expect that Universal Display Corporation will post 4.71 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a $0.45 dividend. The ex-dividend date was Monday, June 16th. This represents a $1.80 dividend on an annualized basis and a yield of 1.18%. Universal Display's payout ratio is 37.42%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on OLED shares. Needham & Company LLC reaffirmed a "buy" rating and set a $170.00 price objective 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 issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $190.43.

Universal Display Profile

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.