Universal Display Corporation (NASDAQ:OLED) Shares Purchased by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its holdings in Universal Display Corporation by 41.5%, now owning approximately $1.35 million worth of shares after purchasing an additional 2,839 shares.
• The company recently reported earnings per share (EPS) of $1.41, exceeding analyst expectations, and saw a revenue increase of 8.4% compared to the previous year.
• Universal Display announced a quarterly dividend of $0.45 per share, with an annual yield of 1.3%, slated for payment on September 30th.

Cetera Investment Advisers lifted its stake in Universal Display Corporation (NASDAQ:OLED - Free Report) by 41.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,673 shares of the semiconductor company's stock after buying an additional 2,839 shares during the quarter. Cetera Investment Advisers' holdings in Universal Display were worth $1,349,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Orion Capital Management LLC purchased a new stake in shares of Universal Display in the fourth quarter worth about $29,000. Golden State Wealth Management LLC boosted its stake in shares of Universal Display by 4,700.0% in the first quarter. Golden State Wealth Management LLC now owns 240 shares of the semiconductor company's stock worth $33,000 after buying an additional 235 shares during the last quarter. Global X Japan Co. Ltd. purchased a new stake in shares of Universal Display in the first quarter worth about $49,000. Transce3nd LLC purchased a new stake in shares of Universal Display in the fourth quarter worth about $54,000. Finally, HM Payson & Co. boosted its stake in shares of Universal Display by 235.4% in the first quarter. HM Payson & Co. now owns 436 shares of the semiconductor company's stock worth $61,000 after buying an additional 306 shares during the last quarter. Hedge funds and other institutional investors own 78.19% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on OLED shares. Wall Street Zen upgraded Universal Display from a "sell" rating to a "hold" rating in a research note on Friday, May 2nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $170.00 price target on shares of Universal Display in a report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Universal Display currently has an average rating of "Moderate Buy" and an average target price of $190.43.

Universal Display Stock Down 1.2%

Shares of Universal Display stock traded down $1.78 during mid-day trading on Thursday, reaching $143.37. 151,183 shares of the stock traded hands, compared to its average volume of 661,561. The business has a 50-day moving average of $151.50 and a 200 day moving average of $144.66. Universal Display Corporation has a fifty-two week low of $103.70 and a fifty-two week high of $215.90. The stock has a market capitalization of $6.81 billion, a PE ratio of 28.04, a PEG ratio of 1.50 and a beta of 1.47.

Universal Display (NASDAQ:OLED - Get Free Report) last announced its earnings results on Thursday, July 31st. The semiconductor company reported $1.41 EPS for the quarter, beating analysts' consensus estimates 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 in the prior year, the firm earned $1.10 earnings per share. The business's revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts expect that Universal Display Corporation will post 4.71 EPS for the current fiscal year.

Universal Display Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Tuesday, September 16th. Universal Display's payout ratio is currently 35.16%.

About Universal Display

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.