Danske Bank A S Purchases 12,737 Shares of Universal Display Corporation $OLED

Key Points

• Danske Bank A/S grew its stake in Universal Display by 166.6%, buying 12,737 shares to hold 20,382 shares valued at about $2.38M, while institutional investors own roughly 78.19% of the company.
• Universal Display missed quarterly expectations, reporting $0.76 EPS versus $1.13 expected and revenue of $142.21M, down 14.5% year-over-year and below the $161.23M consensus.
• The firm declared a quarterly dividend of $0.50 per share (annualized $2.00, ~2.0% yield), and analysts have a consensus rating of Hold with a $130.60 target price.

Danske Bank A S grew its position in Universal Display Corporation (NASDAQ:OLED - Free Report) by 166.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,382 shares of the semiconductor company's stock after buying an additional 12,737 shares during the period. Danske Bank A S's holdings in Universal Display were worth $2,380,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Universal Display by 10.0% in the 3rd quarter. Vanguard Group Inc. now owns 5,069,107 shares of the semiconductor company's stock valued at $728,076,000 after buying an additional 460,792 shares in the last quarter. Primecap Management Co. CA increased its position in shares of Universal Display by 1.9% in the 3rd quarter. Primecap Management Co. CA now owns 2,258,378 shares of the semiconductor company's stock valued at $324,371,000 after buying an additional 43,070 shares in the last quarter. Greenhouse Funds LLLP increased its position in shares of Universal Display by 12.6% in the 3rd quarter. Greenhouse Funds LLLP now owns 725,278 shares of the semiconductor company's stock valued at $104,172,000 after buying an additional 81,132 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Universal Display by 2.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 685,707 shares of the semiconductor company's stock valued at $98,490,000 after buying an additional 19,017 shares in the last quarter. Finally, UBS Group AG increased its position in shares of Universal Display by 100.8% in the 4th quarter. UBS Group AG now owns 646,787 shares of the semiconductor company's stock valued at $75,532,000 after buying an additional 324,677 shares in the last quarter. Institutional investors own 78.19% of the company's stock.

Universal Display Price Performance

Shares of Universal Display stock opened at $98.45 on Wednesday. The stock's 50-day moving average is $96.71 and its 200-day moving average is $114.45. Universal Display Corporation has a one year low of $83.64 and a one year high of $163.21. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 21.98, a price-to-earnings-growth ratio of 8.26 and a beta of 1.54.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The semiconductor company reported $0.76 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.37). Universal Display had a return on equity of 12.34% and a net margin of 34.08%.The business had revenue of $142.21 million for the quarter, compared to the consensus estimate of $161.23 million. During the same period last year, the firm earned $1.35 earnings per share. The company's quarterly revenue was down 14.5% compared to the same quarter last year. On average, equities analysts expect that Universal Display Corporation will post 4.57 EPS for the current year.

Universal Display Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 annualized dividend and a yield of 2.0%. Universal Display's payout ratio is 44.64%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on OLED. Roth Mkm set a $168.00 price objective on shares of Universal Display in a research report on Friday. Citigroup lowered their price objective on shares of Universal Display from $105.00 to $100.00 and set a "neutral" rating for the company in a research report on Monday. Weiss Ratings restated a "hold (c-)" rating on shares of Universal Display in a research report on Monday, March 23rd. The Goldman Sachs Group set a $135.00 price objective on shares of Universal Display in a research report on Tuesday, April 21st. Finally, Zacks Research cut shares of Universal Display from a "hold" rating to a "strong sell" rating in a research report on Tuesday, April 21st. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $130.60.

About Universal Display

Universal Display Corporation NASDAQ: OLED is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display's core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.