Comerica Bank Boosts Stock Holdings in Universal Display Corporation $OLED

Key Points

• Comerica Bank increased its stake in Universal Display Corporation by 19.9% to a total value of $3.05 million, owning 21,879 shares after acquiring an additional 3,624 shares.
• The company reported an earnings per share (EPS) of $1.41 for the last quarter, surpassing the consensus estimate by $0.23 with revenue of $171.79 million.
• Universal Display announced a quarterly dividend of $0.45 per share, resulting in an annualized yield of 1.3%.

Comerica Bank lifted its position in Universal Display Corporation (NASDAQ:OLED - Free Report) by 19.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,879 shares of the semiconductor company's stock after purchasing an additional 3,624 shares during the period. Comerica Bank's holdings in Universal Display were worth $3,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Orion Capital Management LLC bought a new position in shares of Universal Display during the fourth quarter worth $29,000. Golden State Wealth Management LLC boosted its position in shares of Universal Display by 4,700.0% during the first 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 during the last quarter. Brooklyn Investment Group lifted its position in Universal Display by 98.5% during the first quarter. Brooklyn Investment Group now owns 270 shares of the semiconductor company's stock valued at $38,000 after purchasing an additional 134 shares during the last quarter. Global X Japan Co. Ltd. bought a new position in Universal Display during the first quarter valued at $49,000. Finally, SVB Wealth LLC bought a new position in Universal Display during the first quarter valued at $50,000. 78.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Zacks Research lowered shares of Universal Display from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 19th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $190.43.

Universal Display Price Performance

Shares of Universal Display stock traded up $3.75 during trading on Thursday, hitting $142.84. The stock had a trading volume of 222,877 shares, compared to its average volume of 645,983. The firm's fifty day simple moving average is $147.41 and its 200-day simple moving average is $144.24. The stock has a market cap of $6.79 billion, a PE ratio of 27.90, a PEG ratio of 4.07 and a beta of 1.50. Universal Display Corporation has a 12 month low of $103.70 and a 12 month high of $215.90.

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

Universal Display Dividend Announcement

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

Universal Display Company 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.