Hsbc Holdings PLC Has $4.49 Million Stock Holdings in Universal Display Corporation $OLED

Key Points

• Hsbc Holdings PLC sharply increased its stake in Universal Display, boosting holdings by 890.9% in the fourth quarter to 38,091 shares valued at about $4.49 million.
• Universal Display’s latest quarterly results came in below expectations, with EPS of $0.76 versus $1.13 expected and revenue of $142.21 million versus $161.23 million expected.
• Analyst sentiment is mixed: the stock currently has a consensus rating of Hold with an average price target of $130.60, while the shares recently traded around $80.15.

Hsbc Holdings PLC lifted its position in Universal Display Corporation (NASDAQ:OLED - Free Report) by 890.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 38,091 shares of the semiconductor company's stock after purchasing an additional 34,247 shares during the quarter. Hsbc Holdings PLC owned 0.08% of Universal Display worth $4,489,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in shares of Universal Display by 3.1% in the third quarter. JPMorgan Chase & Co. now owns 472,363 shares of the semiconductor company's stock valued at $67,846,000 after acquiring an additional 14,356 shares during the last quarter. Aquatic Capital Management LLC grew its position in Universal Display by 891.6% during the 3rd quarter. Aquatic Capital Management LLC now owns 28,588 shares of the semiconductor company's stock worth $4,106,000 after acquiring an additional 25,705 shares during the last quarter. Systematic Financial Management LP increased its holdings in Universal Display by 40.2% during the 4th quarter. Systematic Financial Management LP now owns 196,515 shares of the semiconductor company's stock valued at $22,949,000 after purchasing an additional 56,320 shares in the last quarter. Cinctive Capital Management LP acquired a new stake in Universal Display during the 3rd quarter valued at $3,419,000. Finally, Polar Asset Management Partners Inc. raised its position in Universal Display by 21.4% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 186,792 shares of the semiconductor company's stock valued at $26,829,000 after purchasing an additional 32,955 shares during the last quarter. Institutional investors and hedge funds own 78.19% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on OLED shares. Needham & Company LLC reduced their price objective on Universal Display from $145.00 to $120.00 and set a "buy" rating on the stock in a research note on Friday, May 1st. Roth Capital set a $168.00 price target on Universal Display in a report on Friday, May 1st. Weiss Ratings reiterated a "hold (c-)" rating on shares of Universal Display in a research report on Thursday, June 18th. Oppenheimer decreased their price objective on shares of Universal Display from $160.00 to $130.00 and set an "outperform" rating on the stock in a report on Friday, May 1st. Finally, The Goldman Sachs Group set a $135.00 price objective on shares of Universal Display in a research report on Tuesday, April 21st. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $130.60.

Universal Display Stock Up 0.6%

Shares of OLED opened at $80.15 on Friday. The stock's fifty day simple moving average is $89.05 and its 200-day simple moving average is $101.53. The firm has a market capitalization of $3.75 billion, a PE ratio of 17.89 and a beta of 1.54. Universal Display Corporation has a 12-month low of $77.15 and a 12-month high of $159.27.

Universal Display (NASDAQ:OLED - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The semiconductor company reported $0.76 EPS for the quarter, missing analysts' consensus estimates of $1.13 by ($0.37). The firm had revenue of $142.21 million during the quarter, compared to analyst estimates of $161.23 million. Universal Display had a return on equity of 12.34% and a net margin of 34.08%.Universal Display's revenue for the quarter was down 14.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.35 earnings per share. Analysts anticipate that Universal Display Corporation will post 4.23 EPS for the current year.

Universal Display Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 2.5%. Universal Display's payout ratio is currently 44.64%.

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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