Envestnet Portfolio Solutions Inc. Purchases 3,960 Shares of Universal Display Corporation $OLED

Key Points

• Envestnet Portfolio Solutions Inc. increased its stake in Universal Display Corporation by 55.1%, now holding 11,147 shares worth approximately $1.72 million.
• Universal Display reported an EPS of $1.41 for the most recent quarter, exceeding analysts' estimates by $0.23, with quarterly revenue up 8.4% compared to last year.
• The company announced a quarterly dividend of $0.45 per share, representing an annualized yield of 1.2% and a payout ratio of 35.16%.

Envestnet Portfolio Solutions Inc. grew its position in Universal Display Corporation (NASDAQ:OLED - Free Report) by 55.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,147 shares of the semiconductor company's stock after acquiring an additional 3,960 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Universal Display were worth $1,722,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Universal Display by 73.8% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,407,846 shares of the semiconductor company's stock valued at $614,806,000 after acquiring an additional 1,871,333 shares during the last quarter. Primecap Management Co. CA raised its stake in shares of Universal Display by 2.1% in the first quarter. Primecap Management Co. CA now owns 1,835,722 shares of the semiconductor company's stock valued at $256,047,000 after acquiring an additional 38,590 shares during the last quarter. Brown Advisory Inc. bought a new position in shares of Universal Display in the first quarter valued at approximately $72,327,000. Raymond James Financial Inc. raised its stake in shares of Universal Display by 64.4% in the first quarter. Raymond James Financial Inc. now owns 466,612 shares of the semiconductor company's stock valued at $65,083,000 after acquiring an additional 182,730 shares during the last quarter. Finally, Copeland Capital Management LLC increased its holdings in shares of Universal Display by 15.0% in the second quarter. Copeland Capital Management LLC now owns 457,396 shares of the semiconductor company's stock valued at $70,650,000 after purchasing an additional 59,640 shares in the last quarter. Institutional investors own 78.19% of the company's stock.

Universal Display Stock Performance

OLED opened at $149.00 on Friday. The company has a fifty day moving average price of $142.21 and a two-hundred day moving average price of $142.47. Universal Display Corporation has a 52 week low of $103.70 and a 52 week high of $214.57. The firm has a market capitalization of $7.08 billion, a PE ratio of 29.10, a P/E/G ratio of 4.40 and a beta of 1.55.

Universal Display (NASDAQ:OLED - Get Free Report) last released its earnings results on Thursday, July 31st. The semiconductor company reported $1.41 EPS for the quarter, topping analysts' consensus estimates of $1.18 by $0.23. Universal Display had a net margin of 36.95% and a return on equity of 15.82%. The firm had revenue of $171.79 million during the quarter, compared to analyst estimates of $161.58 million. During the same quarter in the previous year, the business earned $1.10 EPS. The business's quarterly revenue was up 8.4% compared to the same quarter last year. Universal Display has set its FY 2025 guidance at EPS. Equities analysts forecast that Universal Display Corporation will post 4.71 EPS for the current year.

Universal Display Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 16th. Universal Display's payout ratio is currently 35.16%.

Analysts Set New Price Targets

A number of analysts recently weighed in on OLED shares. Zacks Research lowered shares of Universal Display from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 19th. Weiss Ratings reissued a "hold (c)" rating on shares of Universal Display in a report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Universal Display currently has an average rating of "Moderate Buy" and an average target price of $190.43.

About Universal Display

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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