AMG National Trust Bank Takes Position in Universal Display Corporation $OLED

Key Points

• AMG National Trust Bank purchased 17,484 shares of Universal Display worth approximately $1.51 million, while institutional investors collectively own 78.19% of the company.
• Universal Display exceeded quarterly EPS expectations with $1.06 versus $1.03 forecast, but revenue fell 11.4% year over year to $152.16 million. The stock opened at $88.92, near the lower end of its 52-week range.
• The company declared a quarterly dividend of $0.50 per share, representing a $2.00 annualized payout and a 2.2% yield. Analysts’ average rating is “Hold”, with an average price target of $116.33.

AMG National Trust Bank purchased a new stake in Universal Display Corporation (NASDAQ:OLED - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 17,484 shares of the semiconductor company's stock, valued at approximately $1,514,000.

A number of other hedge funds also recently modified their holdings of the company. Measured Wealth Private Client Group LLC bought a new position in Universal Display during the third quarter worth about $33,000. RHL Group LLC acquired a new position in shares of Universal Display in the 4th quarter worth approximately $60,000. Canada Pension Plan Investment Board bought a new position in shares of Universal Display during the 2nd quarter worth approximately $62,000. UMB Bank n.a. lifted its position in shares of Universal Display by 28.3% during the 4th 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 period. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in Universal Display in the 4th quarter valued at $75,000. Institutional investors own 78.19% of the company's stock.

Universal Display Stock Performance

OLED opened at $88.92 on Monday. The company has a fifty day moving average price of $84.74 and a two-hundred day moving average price of $94.82. The firm has a market capitalization of $4.09 billion, a PE ratio of 21.53 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 released its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $1.03 by $0.03. Universal Display had a return on equity of 11.35% and a net margin of 32.24%.The business had revenue of $152.16 million during the quarter, compared to the consensus estimate of $157.54 million. During the same quarter in the prior year, the company posted $1.41 earnings per share. The firm's revenue was down 11.4% on a year-over-year basis. Equities analysts forecast that Universal Display Corporation will post 4.18 EPS for the current year.

Universal Display Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.00 annualized dividend and a yield of 2.2%. Universal Display's dividend payout ratio (DPR) is presently 48.43%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on OLED shares. The Goldman Sachs Group set a $135.00 price target on Universal Display in a research report on Tuesday, April 21st. Roth Capital set a $168.00 price objective on Universal Display in a research report on Friday, May 1st. Needham & Company LLC reduced their price objective on Universal Display from $120.00 to $100.00 and set a "buy" rating on the stock in a research note on Friday, July 31st. Susquehanna decreased their target price on Universal Display from $110.00 to $90.00 and set a "neutral" rating on the stock in a report on Friday, July 31st. Finally, Oppenheimer restated an "outperform" rating and issued a $120.00 target price (down from $130.00) on shares of Universal Display in a research note on Friday, July 31st. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $116.33.

About Universal Display

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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