AQR Capital Management LLC Lowers Position in Universal Display Corporation $OLED

Key Points

• AQR Capital Management LLC reduced its stake in Universal Display Corporation by 38.4%, selling 82,972 shares and retaining 133,251 shares valued at approximately $18.6 million.
• Universal Display reported $1.41 earnings per share, surpassing estimates by $0.23, and revenue of $171.79 million, up 8.4% year-over-year.
• The company declared a quarterly dividend of $0.45 per share, with an annualized yield of 1.3%, scheduled for payment on September 30th.

AQR Capital Management LLC cut its position in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) by 38.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 133,251 shares of the semiconductor company's stock after selling 82,972 shares during the quarter. AQR Capital Management LLC owned approximately 0.28% of Universal Display worth $18,586,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC grew its position in Universal Display by 73.8% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,407,846 shares of the semiconductor company's stock worth $614,806,000 after acquiring an additional 1,871,333 shares during the last quarter. Primecap Management Co. CA grew its position in Universal Display by 2.1% during the 1st quarter. Primecap Management Co. CA now owns 1,835,722 shares of the semiconductor company's stock worth $256,047,000 after acquiring an additional 38,590 shares during the last quarter. Janus Henderson Group PLC grew its position in Universal Display by 41.5% during the 4th quarter. Janus Henderson Group PLC now owns 551,673 shares of the semiconductor company's stock worth $80,674,000 after acquiring an additional 161,782 shares during the last quarter. Brown Advisory Inc. bought a new position in Universal Display during the 1st quarter worth approximately $72,327,000. Finally, Raymond James Financial Inc. grew its position in Universal Display by 64.4% during the 1st quarter. Raymond James Financial Inc. now owns 466,612 shares of the semiconductor company's stock worth $65,083,000 after acquiring an additional 182,730 shares during the last quarter. 78.19% of the stock is currently owned by institutional investors.

Universal Display Trading Down 1.2%

NASDAQ OLED traded down $1.69 on Friday, hitting $136.51. The company's stock had a trading volume of 433,193 shares, compared to its average volume of 534,738. Universal Display Corporation has a 52-week low of $103.70 and a 52-week high of $215.90. The company's 50-day simple moving average is $145.09 and its 200 day simple moving average is $143.65. The firm has a market cap of $6.49 billion, a P/E ratio of 26.66, a PEG ratio of 4.05 and a beta of 1.50.

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

Universal Display Dividend Announcement

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

Wall Street Analyst Weigh In

Separately, Zacks Research lowered Universal Display from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 19th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target 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.