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2,700 Shares in Universal Display Corporation (NASDAQ:OLED) Acquired by DAVENPORT & Co LLC

Universal Display logo with Computer and Technology background

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

(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.

Further Reading

Institutional Ownership by Quarter for Universal Display (NASDAQ:OLED)

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