Deutsche Bank AG Buys New Position in Universal Display Corporation $OLED

Key Points

• Deutsche Bank initiated a 13,298-share position in Universal Display worth approximately $1.15 million, while institutional investors collectively own 78.19% of the company.
• Universal Display beat quarterly EPS expectations with $1.06 versus $1.03 projected, but revenue fell 11.4% year over year to $152.16 million, below estimates.
• The company declared a quarterly dividend of $0.50 per share, equivalent to a $2.00 annualized payout and a 2.4% yield; analysts’ consensus rating remains Hold, with an average price target of $116.33.

Deutsche Bank AG bought a new stake in shares of Universal Display Corporation (NASDAQ:OLED - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 13,298 shares of the semiconductor company's stock, valued at approximately $1,151,000.

Several other institutional investors have also added to or reduced their stakes in OLED. State Street Corp boosted its stake in shares of Universal Display by 4.3% in the fourth quarter. State Street Corp now owns 1,694,779 shares of the semiconductor company's stock worth $197,916,000 after acquiring an additional 69,163 shares during the last quarter. Geode Capital Management LLC lifted its position in Universal Display by 25.0% during the 4th quarter. Geode Capital Management LLC now owns 1,109,077 shares of the semiconductor company's stock worth $129,537,000 after acquiring an additional 222,108 shares during the period. First Trust Advisors LP increased its holdings in shares of Universal Display by 21.1% in the first quarter. First Trust Advisors LP now owns 976,423 shares of the semiconductor company's stock valued at $89,499,000 after purchasing an additional 169,969 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Universal Display by 86.4% during the fourth quarter. JPMorgan Chase & Co. now owns 880,678 shares of the semiconductor company's stock worth $102,846,000 after purchasing an additional 408,315 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Universal Display during the fourth quarter worth $92,756,000. 78.19% of the stock is currently owned by institutional investors.

Universal Display Price Performance

Universal Display stock opened at $82.98 on Monday. Universal Display Corporation has a 52-week low of $76.42 and a 52-week high of $153.38. The company has a market cap of $3.81 billion, a P/E ratio of 20.09 and a beta of 1.54. The business has a 50-day simple moving average of $84.07 and a two-hundred day simple moving average of $92.55.

Universal Display (NASDAQ:OLED - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $1.06 EPS for the quarter, topping the consensus estimate of $1.03 by $0.03. The firm had revenue of $152.16 million during the quarter, compared to analyst estimates of $157.54 million. Universal Display had a return on equity of 11.35% and a net margin of 32.24%.Universal Display's revenue was down 11.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.41 EPS. Research analysts anticipate that Universal Display Corporation will post 4.17 EPS for the current fiscal year.

Universal Display Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Wednesday, September 16th. Universal Display's dividend payout ratio (DPR) is presently 48.43%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on OLED shares. Zacks Research raised Universal Display from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 13th. Susquehanna reduced their target price on Universal Display from $110.00 to $90.00 and set a "neutral" rating on the stock in a report on Friday, July 31st. Weiss Ratings cut Universal Display from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, July 28th. Oppenheimer reissued an "outperform" rating and set a $120.00 price objective (down from $130.00) on shares of Universal Display in a research note on Friday, July 31st. Finally, Needham & Company LLC lowered their target price on shares of Universal Display from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, July 31st. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $116.33.

Universal Display Profile

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.

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