Bank of New York Mellon Corp Acquires 2,282 Shares of Universal Display Corporation (NASDAQ:OLED)

Bank of New York Mellon Corp boosted its holdings in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) by 0.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 439,874 shares of the semiconductor company's stock after acquiring an additional 2,282 shares during the period. Bank of New York Mellon Corp owned about 0.93% of Universal Display worth $61,354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Orion Capital Management LLC bought a new position in Universal Display during the 4th quarter worth about $29,000. Brown Brothers Harriman & Co. grew its holdings in Universal Display by 280.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 209 shares of the semiconductor company's stock worth $31,000 after acquiring an additional 154 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in Universal Display by 4,700.0% during the 1st quarter. Golden State Wealth Management LLC now owns 240 shares of the semiconductor company's stock worth $33,000 after acquiring an additional 235 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in Universal Display during the 4th quarter worth about $40,000. Finally, Farther Finance Advisors LLC grew its holdings in Universal Display by 761.1% during the 4th quarter. Farther Finance Advisors LLC now owns 310 shares of the semiconductor company's stock worth $45,000 after acquiring an additional 274 shares in the last quarter. 78.19% of the stock is currently owned by institutional investors.

Universal Display Stock Down 1.4%

OLED stock opened at $155.49 on Friday. The firm has a 50 day moving average of $152.01 and a 200 day moving average of $145.13. The stock has a market capitalization of $7.39 billion, a PE ratio of 32.33, a price-to-earnings-growth ratio of 1.70 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 released its earnings results on Thursday, May 1st. The semiconductor company reported $1.35 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.28. The company had revenue of $166.28 million during the quarter, compared to analysts' expectations of $154.76 million. Universal Display had a net margin of 35.40% and a return on equity of 15.35%. Universal Display's revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the business earned $1.19 EPS. On average, equities research analysts expect 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 was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Monday, June 16th. Universal Display's dividend payout ratio is presently 37.42%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on OLED. Wall Street Zen upgraded 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 target on shares of Universal Display in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus 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.

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