Copeland Capital Management LLC Acquires 58,253 Shares of Universal Display Corporation $OLED

Key Points

• Copeland Capital Management increased its Universal Display stake by 10.5%, acquiring 58,253 shares to hold 612,153 shares worth approximately $47.2 million. Institutional investors collectively own 78.19% of the company.
• Analyst sentiment is mixed, with three Buy, three Hold, and two Sell ratings; the stock has an average rating of Hold and an average price target of $114.
• Universal Display reported quarterly EPS of $1.06, topping estimates, but revenue fell 11.4% year over year to $152.16 million. Shares opened at $75.66, while the company continues to pay a quarterly dividend of $0.50, yielding about 2.6% annually.

Copeland Capital Management LLC raised its holdings in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) by 10.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 612,153 shares of the semiconductor company's stock after acquiring an additional 58,253 shares during the period. Copeland Capital Management LLC owned approximately 1.33% of Universal Display worth $47,160,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. XXEC Inc. acquired a new position in Universal Display in the second quarter valued at about $2,508,286,000. BlackRock Inc. bought a new position in Universal Display during the second quarter worth about $373,931,000. Primecap Management Co. CA acquired a new position in shares of Universal Display during the 2nd quarter worth about $190,136,000. First Trust Advisors LP grew its position in shares of Universal Display by 21.1% during the 1st quarter. First Trust Advisors LP now owns 976,423 shares of the semiconductor company's stock worth $89,499,000 after buying an additional 169,969 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Universal Display by 4.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 757,166 shares of the semiconductor company's stock worth $69,398,000 after buying an additional 30,661 shares during the period. Institutional investors and hedge funds own 78.19% of the company's stock.

Wall Street Analyst Weigh In

OLED has been the topic of a number of analyst reports. Citigroup downgraded shares of Universal Display from a "neutral" rating to a "sell" rating and cut their price target for the company from $85.00 to $71.00 in a research report on Thursday, October 8th. Oppenheimer reissued an "outperform" rating and set a $120.00 price target (down from $130.00) on shares of Universal Display in a research report on Friday, July 31st. Susquehanna decreased their price target on shares of Universal Display from $110.00 to $90.00 and set a "neutral" rating for the company in a report on Friday, July 31st. Needham & Company LLC decreased their price target on shares of Universal Display from $120.00 to $100.00 and set a "buy" rating for the company in a report on Friday, July 31st. Finally, BTIG Research cut shares of Universal Display to a "neutral" rating in a research report on Friday, July 31st. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Universal Display has an average rating of "Hold" and an average price target of $114.00.

Universal Display Stock Performance

Shares of OLED opened at $75.66 on Wednesday. Universal Display Corporation has a twelve month low of $70.77 and a twelve month high of $153.38. The firm's 50 day moving average price is $81.90 and its two-hundred day moving average price is $86.45. The firm has a market cap of $3.48 billion, a P/E ratio of 18.32 and a beta of 1.53.

Universal Display (NASDAQ:OLED - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.03. Universal Display had a net margin of 32.24% and a return on equity of 11.35%. The company had revenue of $152.16 million during the quarter, compared to analysts' expectations of $157.54 million. During the same quarter in the prior year, the company earned $1.41 earnings per share. The business's quarterly revenue was down 11.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Universal Display Corporation will post 4.17 earnings per share for the current fiscal year.

Universal Display Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. Universal Display's dividend payout ratio is presently 48.43%.

Universal Display Company Profile

Universal Display Corporation develops and commercializes technologies and materials used in organic light-emitting diode (OLED) displays and lighting. The company's portfolio includes phosphorescent OLED (PHOLED) technologies, which are designed to improve display efficiency, as well as OLED material systems and related technologies.

Universal Display generates revenue primarily through licensing its OLED intellectual property and selling OLED materials, including phosphorescent emitter materials and related products.

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