DAVENPORT & Co LLC acquired a new stake in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,700 shares of the semiconductor company's stock, valued at approximately $377,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Orion Capital Management LLC bought a new position in shares of Universal Display in the fourth quarter valued at about $29,000. Brown Brothers Harriman & Co. raised its holdings in shares of Universal Display by 280.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 209 shares of the semiconductor company's stock valued at $31,000 after buying an additional 154 shares during the last quarter. Golden State Wealth Management LLC raised its holdings 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 valued at $33,000 after buying an additional 235 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in Universal Display during the 4th quarter worth about $40,000. Finally, Farther Finance Advisors LLC raised 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 purchasing an additional 274 shares during the last quarter. 78.19% of the stock is owned by institutional investors.
Universal Display Price Performance
Shares of Universal Display stock traded down $2.19 during trading on Friday, hitting $155.49. 392,981 shares of the company were exchanged, compared to its average volume of 611,558. The firm has a market capitalization of $7.39 billion, a P/E ratio of 32.33, a price-to-earnings-growth ratio of 1.70 and a beta of 1.51. Universal Display Corporation has a 1-year low of $103.70 and a 1-year high of $237.00. The firm's fifty day moving average price is $151.78 and its 200 day moving average price is $145.12.
Universal Display (NASDAQ:OLED - Get Free Report) last posted its earnings results on Thursday, May 1st. The semiconductor company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.28. The company had revenue of $166.28 million during the quarter, compared to analyst estimates of $154.76 million. Universal Display had a return on equity of 15.35% and a net margin of 35.40%. The company's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.19 EPS. As a group, equities research analysts anticipate that Universal Display Corporation will post 4.71 earnings per share for the current year.
Universal Display Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were paid a dividend of $0.45 per share. The ex-dividend date was Monday, June 16th. This represents a $1.80 dividend on an annualized basis and a yield of 1.16%. Universal Display's payout ratio is 37.42%.
Wall Street Analyst Weigh In
Several analysts have weighed in on the company. Needham & Company LLC reissued a "buy" rating and set a $170.00 price objective on shares of Universal Display in a report on Friday, May 2nd. Wall Street Zen upgraded shares of Universal Display from a "sell" rating to a "hold" rating 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 stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $190.43.
Check Out Our Latest Stock Report on OLED
Universal Display Company Profile
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Free Report)
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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