1,744 Shares in Universal Display Corporation (NASDAQ:OLED) Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC purchased a new stake in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,744 shares of the semiconductor company's stock, valued at approximately $242,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CIBC Private Wealth Group LLC boosted its holdings in shares of Universal Display by 5.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,615 shares of the semiconductor company's stock worth $245,000 after buying an additional 85 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in Universal Display by 0.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 10,091 shares of the semiconductor company's stock valued at $1,475,000 after purchasing an additional 90 shares during the last quarter. Bessemer Group Inc. lifted its holdings in Universal Display by 3.8% during the first quarter. Bessemer Group Inc. now owns 2,603 shares of the semiconductor company's stock valued at $363,000 after purchasing an additional 95 shares during the last quarter. Utah Retirement Systems lifted its holdings in Universal Display by 1.3% during the fourth quarter. Utah Retirement Systems now owns 7,820 shares of the semiconductor company's stock valued at $1,143,000 after purchasing an additional 100 shares during the last quarter. Finally, Perigon Wealth Management LLC lifted its holdings in Universal Display by 4.9% during the first quarter. Perigon Wealth Management LLC now owns 2,709 shares of the semiconductor company's stock valued at $378,000 after purchasing an additional 127 shares during the last quarter. Institutional investors own 78.19% of the company's stock.

Wall Street Analysts Forecast Growth

OLED has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Universal Display from a "sell" rating to a "hold" rating in a report on Friday, May 2nd. Needham & Company LLC restated a "buy" rating and issued a $170.00 price objective on shares of Universal Display in a research 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. According to data from MarketBeat, Universal Display currently has an average rating of "Moderate Buy" and a consensus target price of $190.43.

Universal Display Stock Down 1.4%

Shares of Universal Display stock traded down $2.19 on Friday, hitting $155.49. The stock had a trading volume of 392,981 shares, compared to its average volume of 613,045. Universal Display Corporation has a one year low of $103.70 and a one year high of $237.00. The stock has a market cap of $7.39 billion, a price-to-earnings ratio of 32.33, a PEG ratio of 1.70 and a beta of 1.51. The stock's 50-day simple moving average is $152.01 and its two-hundred day simple moving average is $145.13.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its earnings results on Thursday, May 1st. The semiconductor company reported $1.35 earnings per share (EPS) 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 for the quarter, compared to analysts' expectations of $154.76 million. During the same quarter last year, the business earned $1.19 earnings per share. The business's revenue was up .6% on a year-over-year basis. As a group, equities analysts predict that Universal Display Corporation will post 4.71 EPS for the current fiscal year.

Universal Display Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date was Monday, June 16th. Universal Display's payout ratio is 37.42%.

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.