First Citizens Bank & Trust Co. Increases Position in Universal Display Corporation $OLED

Key Points

• First Citizens Bank & Trust Co. increased its holdings in Universal Display Corporation by 219.0% during the second quarter, bringing their total shares owned to 5,656 with a value of approximately $874,000.
• Universal Display received a strong-buy rating upgrade from Zacks Research, with an average analyst price target set at $190.43.
• The company announced a quarterly dividend of $0.45 per share, representing an annualized dividend of $1.80 and a yield of 1.2%.

First Citizens Bank & Trust Co. lifted its holdings in Universal Display Corporation (NASDAQ:OLED - Free Report) by 219.0% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,656 shares of the semiconductor company's stock after buying an additional 3,883 shares during the period. First Citizens Bank & Trust Co.'s holdings in Universal Display were worth $874,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rise Advisors LLC boosted its stake in shares of Universal Display by 87.9% in the 1st quarter. Rise Advisors LLC now owns 186 shares of the semiconductor company's stock worth $26,000 after buying an additional 87 shares during the last quarter. Whittier Trust Co. purchased a new position in shares of Universal Display in the 2nd quarter worth approximately $30,000. Golden State Wealth Management LLC boosted its stake in shares of Universal Display by 4,700.0% in the 1st quarter. Golden State Wealth Management LLC now owns 240 shares of the semiconductor company's stock worth $33,000 after buying an additional 235 shares during the last quarter. Brooklyn Investment Group boosted its stake in shares of Universal Display by 98.5% in the 1st quarter. Brooklyn Investment Group now owns 270 shares of the semiconductor company's stock worth $38,000 after buying an additional 134 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of Universal Display by 79.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 276 shares of the semiconductor company's stock worth $43,000 after buying an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 78.19% of the company's stock.

Analysts Set New Price Targets

OLED has been the topic of a number of research analyst reports. Zacks Research upgraded Universal Display from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Weiss Ratings reissued a "hold (c)" rating on shares of Universal Display in a report on Friday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Universal Display presently has an average rating of "Moderate Buy" and an average price target of $190.43.

Universal Display Trading Down 1.5%

Shares of NASDAQ OLED opened at $147.01 on Friday. The stock has a fifty day simple moving average of $142.95 and a two-hundred day simple moving average of $143.54. Universal Display Corporation has a 1-year low of $103.70 and a 1-year high of $214.57. The firm has a market cap of $6.99 billion, a price-to-earnings ratio of 28.71, a price-to-earnings-growth ratio of 4.38 and a beta of 1.55.

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

Universal Display Announces Dividend

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

Universal Display Company Profile

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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